Phil Mickelson may be approaching $1 billion in net worth after the sale of six Arizona golf courses to Arcis Golf.
Lefty sold three private courses and three daily fee courses in the deal. Terms were not disclosed.
Arcis Golf, launched in 2015 by Arcis Equity Partners, operates courses under the Castlegate and Ironbridge brands. Last October, it received a “significant” investment from Atairos.
The company has invested more than $75 million in improvements and operations of its private and daily-fee courses over the last few years.
For Mickelson, the sale — made with his business partner, Steve Loy — could bring him in the vicinity of the Triple Comma Club.
- The 51-year-old golf legend had $800 million in career off-course earnings prior to this sale, according to Forbes.
- The three-time Masters champion has $94.8 million in career PGA Tour earnings.
- He made $41 million in total earnings in the year ending June 4, placing him 29th among all athletes for the period.
Interest in golf grew during the pandemic, with the PGA Superstore seeing a 55% sales boost in the first half of 2021 compared to 2019.
However, the industry still saw net closures of 1,645 golf courses from 2005 to earlier this year, with some courses being repurposed for warehouse space and other uses.