Phil Mickelson isn't just the legend who put his stamp on LIV Golf – he was also secretly a co-owner of the league. The now-public Chapter 11 insolvency documents of the LIV Tour, a 128-page filing, reveal the big secret: Mickelson held 0.23% of the shares at the time of the filing.
For a long time, there was speculation about who the “unnamed current player” in the documents was. Now it’s clear that Lefty himself held this role. The ownership structure previously showed Saudi Arabia’s Public Investment Fund (PIF) with an overwhelming 98.48%, Performance54 Group Limited with 1.05%, and former CEO Greg Norman also with 0.23%. Mickelson is thus in good company.
The Major Overhaul
The Chapter 11 filing by no means signifies the end for LIV Golf, but rather a strategic restructuring. It’s not about liquidation, but about reorganization to prepare the league for the future. BC Partners plans to inject $300 million in equity into the reorganized league – a significant financial boost. Approval for a $14 million interim financing package was also recently granted to keep operations running.
Mickelson's Deeper Involvement
This revelation shows: Phil Mickelson was more than just a figurehead with a mega-contract from the start. His 0.23% stake makes him a true insider, a player in the truest sense of the word. In 2022, he was one of the founding stars and not only secured a hefty guaranteed payout but also laid the groundwork for his equity in the league. This is a move that raises questions about how the cards are truly dealt in the golf world and how players might be involved in the future.
