Golf News | Phil Mickelson gambling loss, LIV golf inviting $ 277 million

By Brett Graham and Emily Patterson

Phil Mickelson.

Phil Mickelson described his previous gambling habits as “reckless” and “embarrassing”, revealing his troubled past after arriving in London ahead of the LIV Golf Invitational event.

Federal auditors investigating Mickelson’s role in the insider trading scheme reported a total of more than $ 56 million in gambling losses from 2010 to 2014, according to a quote from the biography of six-time lead author Alan Shiponak.

In an interview with SI.com, Mickelson said that “hundreds of hours of therapy” had helped him overcome his gambling addiction.

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“My gambling has reached the point of being reckless and embarrassing. I had to fix it,” he said.

“I have been addressing this for several years. And for hundreds of hours of therapy. I feel better where I am. My family and I have been financially secure for some time.

“Ever since I can remember gambling has been a part of my life. But almost a decade ago when I would say it has become reckless. It’s embarrassing. I don’t like it that people know.”

He added: “It’s not a threat to me or my financial security. It was just a few weak decisions … It’s a concern, other issues that come with off-course gambling and off-course addiction. It really needs to be addressed.”

Mickelson was a relief defendant in 2016 in an insider trading case that sent famous gambler Billy Walters to prison.

Walters has since been released and says he is writing a book.

Mickelson’s annual earnings in 2012 – at the time of the Dean Foods stock deal that netted Mickelson about $ 1 million a week – were about $ 67 million.

Shipnack added that the long-running Caddy Jim ‘bonus’ in 2017 had money behind his breakup with Mac. He writes that Mack left Mickelson after the Memorial that year for a series of “excellent accusations,” including a few thousand dollars back pay.

Mickelson spoke during preparations for the T-off at Centurion Club on Thursday after signing up for a Saudi-backed LIV golf invitation.

According to The Telegraph in London, Mickelson has received 27 277 million for appearing on the circuit for at least three years.

“I think the biggest reason when I think about LIV golf is that I find myself excited and motivated to play and work hard and compete again,” Mickelson said.

“I think after 30 years of doing this, I’m excited for something new and this different format.”

Mickelson’s arrangement comfortably surpassed the $ 174 million mentioned earlier, which prompted former World No. 1 Dustin Johnson to leave the PGA Tour.

In the 48-man field, 12 more PGA Tour members are competing on 54 holes for a $ 28 million purse.

The winner will receive 5.75 million – the richest prize in golf to date.

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