The PGA Tour player guidelines have a section on “Conduct of players related to gambling.”
It states that PGA Tour players shall not:
“Associate with or have dealings with persons whose activities, including gambling, might reflect adversely upon the integrity of the game of golf.”
The PGA Tour has something ugly staring right at it, something it would rather not face, not admit and certainly not handle.
Phil Mickelson, one of the huge stars of the PGA Tour has a gambling problem.
A big gambling problem.
And it doesn’t take a private investigator or an FBI agent to figure it out.
It became painfully obvious when the SEC, that’s the Securities and Exchange Commission, not the Southeastern Conference, made Mickelson a “relief defendant” in a lawsuit stemming from an insider trading investigation in which it was discovered that Mickelson made $931,738.12 in gains from a short-term trade in Dean Foods.
What was learned from this latest foray by Mickelson into some questionable judgement and decision-making is that he is chummy with one William T. “Billy” Walters — known gambler and overall seedy character. Mickelson made the $2.4 million purchase of Dean Foods stock at the suggestion of Walters, who Mickelson apparently owed money. Yes, a gambling debt.
Mickelson ended up paying back the $931k plus about $105,291 in interest since 2012 for a total of more than $1 million.
This isn’t the first time Lefty got his putter in a wringer.
Last year about this time, it was discovered that Mickelson sent nearly $3 million through “an intermediary” as part of an illegal gambling operation, which accepted and placed bets on sporting events. Lefty’s “intermediary” was another seedy fellow named Gregory Silveira of La Quinta.
That business haunted Mickelson as he prepared for last year’s U.S. Open. It was the 6,000-pound elephant in Lefty’s mansion.
Mickelson dodged that bullet. He was portrayed as a victim.
Notice a pattern?
One time, okay, no harm. Two times? Now we have a trend.
Phil Mickelson has a gambling problem and no one wants to admit it. Not Mickelson, not the PGA Tour, not any of his sponsors who pony up about $40-$50 million annually to keep Lefty’s betting funds well-stocked.
If Mickelson were in the NFL, NBA or Major League Baseball, he would most likely have faced a long suspension.
But golf?
The Associated Press put the question to the PGA Tour and got this from Commissioner Tim Finchem’s henchman, Ty Votaw:
“That’s something we’re in the process of looking at.”
The difficult part of this is that Mickelson is a sweetheart of the fans. He is amiable, engaging and will sign autographs, sign more then sign more. He looks fans in the eye and smiles. He has been the anti-Tiger Woods when it comes to that.
It also has to have the suits at KPMG squirming. KPMG is a tax, audit and overall advisory firm that brings in business based on strong, clean ethics. So Mickelson’s dealings with dubious characters have to have the big boys at KPMG wondering if they need to renew their sponsorship with Phil when it expires after 2016.
Callaway can’t be happy either, nor can any of the companies that combine to underwrite his personal wealth to the tune of $40-$50 million a year.
Which brings us back to the dealings with Billy Walters.
Why didn’t Mickelson just pay off the gambling debt and be done with it?
Mickelson needs to look at himself in the mirror and ask himself how a smart guy like him could make such bad decisions?
The PGA Tour has to do something as well.
Perhaps it’s a strong slap on the wrist with the proviso that Mickelson undergo counseling for his gambling habit.
Better still, Mickelson needs to give up the gambling gig altogether.
It’s not healthy for him or his family and it sheds dark light on the tour.
It is that simple yet that complex.
Gambling, like any other addiction is dangerous and destructive.
And Phil Mickelson needs to come to that realization.
10 Comments
DCRocks
To make a claim such as yours is to disavow the pervasive history of gambling that exists in golf. The Tuesday and Wednesday practice rounds where players play for their own money is the stuff of legends. It also includes greats of the game partaking including Nicklaus, Watson, Palmer and Player. Lanny Wadkins clutch play is often attributed to his Tuesday money matches. Heck, one of the great all time stories is a book called The Match in which Ken Venturi, Ben Hogan and Bryon Nelson partake in a match with huge money resting on the outcome from outsiders.
I think you need to revisit your stance.
Editor In Chief
There is a difference between gambling games between players on the golf course and getting involved with characters with the reputation of Billy Walters. I know Jack Nicklaus personally and can tell you he never placed a bet with a bookie, unlike Phil, who obviously owed Walters a substantial amount of money. Same with his attempt to underwrite a gambling operation. If these people are convicted, then Mickelson has basically been consorting and doing business with felons. I think that is the main point here, it is those he has become associated with through his gambling, which is now graduated past $1,000 nassaus on Tuesdays before a tournament.
majordomo
Well you have written a half story or a quarter story maybe.
You know he has a couple of hundred million in the bank and you know he makes about $1 million a week. So the story is why he does not simply pay off the bookie? Worst case scenario is ya gotta eat spam for a month..
Phil pays him off and nobody ever knows. This way he faces Martha Stewart jail time. It makes no sense. Unless he is being blackmailed. Now there is a story and a major red face for golf and the tour. Haven’t you ever wondered why he misses the really easy short putts? Is that blackmail too? Where does this end? Where does this begin? Keep digging.
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Editor In Chief
Phil missing short putts is a fact of life for a 45-year-old golfer. And yes, you would think Phil would do the smart thing and simply wire Billy the money he owed. But a gambling habit makes you do dumb things and although Phil has not broken any laws per say, he has done some very dumb things for a guy who is supposed to be smarter than most. I’ve heard that Phil often enjoys being looked upon as the smartest guy in the room but after these messes, you wonder.
majordomo
Insider trading is not breaking any laws? It’s too bad that the Judge who sentenced Martha thought otherwise.
Editor In Chief
Actually, they have changed the Insider trading laws. Big changes, were explained the other night on 60 minutes. Phil would have had to known that Billy Walters was paying the former chairman of Dean Foods for the information.
gur
Phil is my favorite playing golfer ( Jack is my all time ) and I am a llittle disappointed to read this news especially since Phil is so nice to so many people signing, tipping , taking new players under his wing, making people feel comfortable, etc. I hope he decides to give up hanging with those kinds of folks and keep the gambling to Tuesday rounds with his PGA guys.
Editor In Chief
I think you’re thinking what PGA Tour Commissioner Tim Finchem is thinking.
beege
The fact that Phil has not already been suspended and fined shows exactly the lack of integrity the PGA Tour really has. If this was, o.k. no names needed but a lesser star like player they would have made an example of him on day one. He is in clear violation of the creed of the handbook that he pays dues to belong on the Tour.
The lack of transparency, the favoritism and the “we can do whatever we want to” approach to the players and the public is truly alarming. Whew got that off my chest. Oh and the so called golf media that sucks up to the Tour should be ashamed of themselves. Where is chamblee when we really need him.
Tom Edrington
Sad but true, I hope Phil has learned his lesson from this. He embarrassed KPMG with all of this and his contract is up after this year, I believe…..wonder if they’ll re-sign that deal??