FEDERAL auditors investigating Phil Mickelson’s role in an insider trading scheme found his gambling losses amounted to more than $40 million from 2010 to 2014, according to an excerpt from Phil’s forthcoming biography. Alan Shipnuck.
Shipnuck posted the snippet on his “Firepit Collective” site on Thursday (Friday in Manila). His unauthorized biography on Mickelson is due for release May 17 during the PGA Championship. Mickelson is the defending champion. He did not say if he would play.
Mickelson has not been seen by the public since the last round of the Saudi International on February 6. Shortly after, Shipnuck posted explosive comments from Mickelson about his involvement in the Greg Norman-backed golf business.
Mickelson dismissed Saudi Arabia’s human rights record, including the murder of Washington Post journalist Jamal Khashoggi, saying it was worth engaging with the Saudis if it meant getting a leverage to get what he wanted from the PGA Tour.
Mickelson was a relief defendant in 2016 in the insider trading case that sent famed gambler Billy Walters to jail.
Walters has since been released and said he was writing a book.
In the most recent excerpt on the $40 million in gambling losses, Shipnuck wrote that government auditors investigated Mickelson’s finances over four years, from 2010 to 2014. The author cited a source with direct access to documents.
Mickelson’s annual income in 2012 — the time of the Dean Foods stock deal that brought Mickelson nearly $1 million in one week — was estimated to be around $48 million.
Shipnuck also said money was a big part of his split from longtime caddy Jim “Bones” Mackay in 2017. He wrote that Mackay left Mickelson after the Memorial that year because of a series of “simmering grievances”, including hundreds of thousands of dollars in back pay. Shipnuck wrote more about this in the book.