Tiger Woods is set to be joined by old rival Phil Mickelson in golf’s $1 billion club, after Mickelson sold six Arizona golf courses to Arcis golf.
The left-hander - alongside business partner Steve Loy - has sold three private courses and three daily fee courses to Arcis which has rumoured to have brought his net worth close to the $1 billion mark.
Arcis Golf was launched in 2015 by Arcis Equity Partners, and operates its golf courses under the Castlegate and Ironbridge brands. Furthermore, in 2020 the company received a ‘significant’ investment from independent private company Atairos.
The sizeable sale moves the six-time major champion towards a one billion net worth, following a successful financial career both on, and off the golf course.
As a result, according to Forbes Mickelson has $800 million in career earnings off the course, whilst also earning $94 million from his on course performances across his PGA Tour career.
The 2021 PGA Championship winner also made $41 million in total earnings in the year ending June 4, leaving him 29th among all sporting athletes for that period.
This therefore means the 51-year-old - who became the oldest golfer to win a major in May - will join his eight-time Ryder Cup teammate in joining golf’s $1 billion club after Forbes reported Woods had accumulated $1.5 billion from endorsements, appearances and course design fees during his professional career.
Following the sale of his six properties, the 45-time PGA Tour winner spoke of his excitement to work alongside Arcis Golf.
Mickelson said: “We’re thrilled to work with Arcis Golf, and we’re entrusting them to build upon the success we’ve created so far with these properties. We were very impressed with the Arcis leadership team and their commitment to their members and guests, and we look forward to continuing our business relationship.”
The three daily fee-paying Arizona courses that have been sold by the left-hander are McDowell Mountain Golf Club in Scottsdale, Ocotillo Golf Club in Chandler and Palm Valley Golf Club in Goodyear.
The sale of Mickelson’s private courses includesThe Stone Canyon Club in Oro Valley, The Golf Club at Chaparral Pines in Payson and The Rim Golf Club, also in Payson.
