Phil Mickelson revelation comes to light just days after shock LIV Golf bankruptcy news

A fresh revelation surrounding Phil Mickelson has emerged just days after LIV Golf stunned the sport by filing for Chapter 11 bankruptcy protection.

According to Sportico, Mickelson reportedly owned a 0.23% stake in LIV Golf when the Saudi-backed circuit entered bankruptcy proceedings, according to a person familiar with the matter.

The revelation follows the publication of LIV’s 128-page filing in the District of New Jersey, which provided a rare insight into the ownership structure behind the controversial breakaway tour.

The filing shows that Saudi Arabia’s Public Investment Fund (PIF) held the overwhelming majority of LIV’s common ownership at 98.48%. 

Performance54 Group Limited, an entity controlled by PIF, held a further 1.05%, while former LIV CEO Greg Norman was listed with a 0.23% stake.

Norman revealed his big LIV regret this week. 

Another 0.23% was attributed simply to a “current player”.

Per Sportico, that golfer was Mickelson

"Phil Mickelson owned a 0/23% stake in LIV Golf at the time of its bankruptcy filings, according to a person familiar with the matter," writes Sportico.

The publication claims LIV Golf declined to comment on such a revelation, while a representative for Mickelson did not respond to a request for comment.

The news adds another layer to Mickelson’s complicated relationship with LIV.

The six-time major champion was arguably the most high-profile signing when the circuit launched in 2022. 

Mickelson reportedly received a guarantee worth around $200 million to join and also secured a 25% stake in HyFlyers GC, the team he captains.

Lefty was not merely a player, either.

The American became one of LIV’s most vocal supporters and was involved in efforts to persuade other established stars to leave the PGA Tour. 

His role in recruiting players was later referenced by Mickelson in a lawsuit, in which he alleged that his efforts contributed to his suspension from the PGA Tour.

But more than four years on, Mickelson’s involvement with LIV has changed dramatically this season.

After initially signing a deal that ran through 2025, he returned to the circuit in 2026. 

Yet he has appeared just once, finishing T48 at LIV Golf South Africa, and has not played since.

Mickelson missed all four majors this season for the first time in his pro career.

A reported family health matter has contributed to his absence.

And then other reports began to surface. 

Earlier this summer, Mickelson strongly denied allegations of misconduct contained in an investigation published by golf outlet Skratch, with his representatives describing the report as "an anonymously sourced drive-by shooting."

Now, his reported LIV ownership stake has become another major question.

LIV is currently attempting to reshape its future through a proposed restructuring involving London-based private equity firm BC Partners. 

Under the terms outlined in the proposed agreement, PIF’s existing equity and debt would be cancelled and extinguished in exchange for releases, with no economic distribution attached to those interests.

That could have significant implications for existing ownership interests.

Player agreements dating back to before the bankruptcy filing will be dealt with through the Chapter 11 proceedings, while new offers made to players for the reimagined version of LIV Golf will sit outside the bankruptcy process.

The proposed new structure could also give LIV players a much greater say, with participating golfers set to receive 52.5% of the overall ownership.

The bankruptcy proceedings have already received initial court approval following an expedited hearing.

For Mickelson, though, there are now two obvious questions.

What happens to his reported 0.23% stake?

And, perhaps more importantly, when will the 56-year-old return to competitive golf?

After spending much of 2026 away from the course, Mickelson’s future remains one of the more intriguing storylines surrounding LIV’s next chapter.