“I wonder where the other $8.7 billion is” – Phil Mickelson questions PGA Tour’s assets after latest filing

Phil Mickelson questioned the PGA Tour's assets on social media. Notably, this week the PGA Tour filed its annual tax return, and as per a report by Sports Business Journal, Monahan earned total compensation of $19 million last year. His total cash and compensation benefits were around $15.5 million, and $3.8 million for deferred dollars.

Moreover, the PGA Tour's total assets were around $3.8 billion, and they saw around $760 million in revenue and $1.2 billion in expenses. Nuclr Golf shared the stats on its X (formerly Twitter) account with a caption:

"#NEW — Tax documents for 2024 that were filed this week reveal that Jay Monahan took home in excess of $19M during the year, per @JoshACarpenter The Tour reportedly saw $760M in revenue, $1.2 Billion in expenses and had assets totalling $3.8 Billion"

The post was later reshared by Phil Mickelson on his X account with a caption in which he questioned the total valuation of the PGA Tour. He talked about the circuit's deal with Sports Strategic Group, which he said in his post was signed at a valuation of $12.5 billion.

"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. Just kidding. That was rhetorical, I already know," he wrote.

Notably, in 2024, the PGA Tour had a partnership with SSG and launched the PGA Tour Enterprises. They agreed on strategic investing of around $3 billion, with an initial investment of $1.5 billion.

Phil Mickelson talked about the deal in his post. He currently plays on the LIV Golf league and is banned from playing on the PGA Tour. The six-time major winner is enjoying an off-season, as there are still three months to go before the start of the new LIV Golf season.

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Phil Mickelson responds to fans’ questions on PGA Tour valuation

In the comments section of the Phil Mickelson post in which he questioned the PGA Tour assets, several fans shared their opinions and talked about the valuation. A fan wrote:

"Phil I love you. But the $12.5B is based off of discounted future cash flows."

Mickelson replied to him.

"Close, but that’s not it" he wrote.

Yet another fan explained the assets by giving the example of Microsoft. The fan wrote:

"OK, I’ll bite. Currently Microsoft has assets of $619B and a market cap of $3.8T."

Mickelson replied:

"The Tour isn’t really a growth stock"

Phil Mickelson responds to fans’ questions on PGA Tour valuation/X

Notably, Phil Mickelson has been more active on social media after the conclusion of the 2025 LIV Golf in August. He has around 961.9K followers on X and is widely known for actively sharing his opinions about environmental, sports, and political matters.

On the greens, this season had been decent for the HyFlyers captain. He skipped the season opening in Riyadh and then started the campaign in Adelaide with a T23 finish. He was settled in solo third in Hong Kong, solo sixth in Miami, and also recorded an impressive T4 in Virginia.

Edited by Ankita Yadav