Phil Mickelson drops dig on social media as the PGA Tour 2024 financial report emerges

The PGA Tour’s tax filings for the 2024 season were released on Friday by the Sports Business Journal, showing $760 million in revenue against $1.2 billion in expenses, with total assets listed at $3.8 billion.

Mickelson responded to the news in typical fashion, using a touch of sarcasm to make his point about how he feels the Tour is run.

He posted on his official X account: “Assets totalling $3.8 billion but sold to SSG based on a $12.5 billion valuation?

“I wonder where the other $8.7 billion is that was factored in. Just kidding. That was rhetorical, I already know.“

Exactly what Mickelson meant by that is not entirely clear, though it fits into his long-standing narrative that the Tour holds back more money from players than it should.

The total revenue figures do not fully reflect the reality, a factor also due to the structural change brought by SSG’s inclusion nearly two years ago.

SSG’s role in shaping the future of the PGA Tour

In January 2024, Strategic Sports Group (SSG) committed an initial $1.5 billion to PGA TOUR Enterprises, a sum expected to increase to around $3 billion over time.

SSG is a group comprised of sports club owners with deep pockets, and their involvement was intended to give players a greater stake in the Tour.

So, is SSG’s backing ultimately good for the PGA Tour?

Their financial support should provide long-term stability, with nearly 200 players now holding equity stakes in PGA TOUR Enterprises.

This setup ties player’s interests directly to the Tour’s success. Plus, having experienced sports owners involved could help guide strategic decisions and keep LIV Golf at bay.

Still, whether this partnership turns out well for both sides remains to be seen. But as it stands now, Mickelson has no regrets about his decision to leave the PGA Tour for LIV Golf.