The PGA Tour’s newly released 2024 tax filings show $760 million in revenue, $1.2 billion in expenses, and assets valued at $3.8 billion. The numbers seemingly appear typical for a major sports organization managing tournaments, players, and operations on a global scale. However, recently Phil Mickelson pointed out something regarding the matter that he sees as a discrepancy. And now, a golf analyst has debunked Mickelson’s claims surrounding the discrepancy of $12 billion valuation.

Mickelson recently noted that while the Tour reported $3.8 billion in assets, its valuation during the Strategic Sports Group investment was around $12.5 billion. That higher valuation was expected only if the PGA Tour and LIV Golf eventually came together under PGA Tour Enterprises. It was further highlighted by the golfer that the compensation of PGA Tour commissioner Jay Monahan, who earned $19.2 million last year. 

Although that total is slightly less than what Monahan made in 2023, his cash and benefits actually increased by $1.3 million. However, recently in the No Laying Up podcast, golf analyst Soly and TC reflected on the matter. Soly stated, “I think it’s $28 million from the tour. I know he won the PIP. But you know, that’s one of those that sticks out, and there’s got to be these things that are not done uh willy-nilly. They’re not just handing tiger uh money under the table. But it’s just all interesting to read all that spelled out as well.”

He further added, “There was a lot going around on the Everything app from some of the smartest people you’ll ever read, about the tour losing $500 million because there was a change in the structure of course in the tour in 2024. This makes the revenue amount on their tax filings presented differently than it was in 2023. The revenue in 2024 showed $760 million, which is a drop from $1.82 billion in 2023.”

Referring to the claims of Phil Mickelson added, “Well, again, I got this from one of the leading financial minds on the Everything app. Phil Mickelson did weigh in as well to say assets totaling 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. I already know which as we all know, just your straight asset value, that is your that is the value of your company, right there’s no you know projected growth of any company ever.”

Soly further said that the numbers looked confusing because of how the PGA Tour is structured. The Tour has different parts, and this tax form only shows the finances of one specific part, the 501(c)(6) nonprofit arm. Because of that, the revenue and expenses shown here don’t reflect the whole PGA Tour, just this one section. He further reflected that the revenue is being counted differently between the different parts of the organization. Adding to that, expenses on this form dropped a lot (from $1.89 billion to $1.21 billion), and they don’t know exactly why.

Explaining his take on Mickelson’s claims, he also added, “All companies do is sell for uh the exact valuation of all the assets that that you hold. So anyways, that’s that’s from from the uh from the investor that brought you Sable Offshore. Hey, wait, shouldn’t he be saying that it should be worth he said it’s worth assets are 3.8 billion, but there is the other 20 billion in NFTs that they never cashed in on. So if anything, they sold it at a discount because they should have 23.8 billion in assets there.”

However, from Mickelson’s opinion, one thing was clear: he is seemingly disappointed with the stance of the PGA.

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Phil Mickelson is not happy with the PGA Tour’s lack of transparency 

Mickelson seems to be pretty much irritated with how the PGA Tour has allegedly been keeping financial details from the public. At a time when the golfer was trying to decide between the Tour and the Saudi league, Mickelson accused the Tour of controlling and manipulating the media rights. Which, in turn, led them to earn unethical profits. And that was not all. 

Raising his voice against the malpractices of the Tour, Mickelson revealed how the PGA Tour does not let its athletes own the rights to digital content. The organization further refuses to opt for a fair share of revenue coming from the media rights. 

Lashing out at the Tour, Mickelson stated, “It’s not public knowledge, all that goes on. But the players don’t have access to their own media,” said Lefty. “If the tour wanted to end any threat [from Saudi or anywhere else], they could just hand back the media rights to the players,” Mickelson further added. Surely, with constant verbal attacks, Mickelson ensured that he would not let Jay Manohan or the PGA Tour rest anytime soon.