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Wednesday
Dec192012

Phil Will Not Be Joining Padres Ownership Group

Tod Leonard reports. Phil's reasoning is surprising:

"I think to be involved with the Padres you have to be fully committed to the long term," Mickelson said. "I've been born and raised here, but at this moment I'm not able to make that kind of long-term commitment to the city and to the team."

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Reader Comments (25)

That's weird.

I betcha the people in control told him to take a hike.

His investment would have been passive in nature....heck, he could have lived in Timbuktu and retained his ownership no problem. I think he was too outspoken before the deal got done and the control partner thought "this guy has a powerful megaphone and is already speaking out of school, do we really want this dynamic for the long run"? Clearly, no.

Having said all that, they did him a favor....dozens of higher and better uses for that cash.
12.19.2012 | Unregistered CommenterDTF
A few months back there was a note that his house was for sale - maybe a buyer came from out of the woodwork and Phil has plans to move elsewhere ? Arizona comes to mind with his ties there as well.
12.19.2012 | Unregistered CommenterBrianS
All high income people that can leave California are going or thinking about it. Under those circumstances your tax advisor will not encourage you to make further investments in that state. BrainS, I don't think Arizona is any bargain (but better than California). If he bails, it would likely be to Nevada, Texas or Florida.
12.19.2012 | Unregistered CommenterJJ
The state of California is forcing me and anyone else who makes money out of the state. Somehow we are the problem. We don't pay enough. This prop 30 is going to push CA all the way to bankruptcy. I pay the state millions every year for the privelege of living in this beautiful state and its not enough. They want more. Not only will they not get the 6 billion extra they're trying to get, they will lose money on the deal. Billions. And it will be all but impossible to get those wealthy taxpayers back once they've left and set up roots elsewhere. What incompetent government. It's why CA has been voted the worst run state the last 2 years.
12.19.2012 | Unregistered CommenterPhil M
Padre fans seem to think the rest of the ownership isn't that committed to winning, and Phil doesn't want to be involved with that model.
12.19.2012 | Unregistered CommenterTighthead
Phil's had that house on and off the market since 2008 (he moved to a different house back then). Correct me if I'm wrong but didn't Phil move his family TO California FROM Arizona sometime in the last 10 years? Clearly the financial situation in CA is completely off the rails but this was perfectly evident to everyone long ago....well before the Padres deal broke and the O'Malley's stepped up.

Clearly there's tremendous demand for major league baseball teams in California despite the fiscal horror show that's unfolding there on a daily basis -- the Dodgers sold for $2 billion, and the Padres sold for $800 million which was close to a 70% premium over the agreed price in the deal that broke just a few months prior. So I doubt Phil's investment adviser just wised up all of a sudden and talked him out of it. Heck, he might have advised Phil not to do it in the first place, which would have be the right advice as far as I'm concerned.

Stanley's comment must have quadrupled 18 to miss the cut but I would point out that MLB knew full well of Phil's involvement way in advance of approving the sale -- and if press reports are accurate Phil was still on board when the sale was approved -- so I think we can say with a reasonably high degree of certainty that wagering wasn't the problem.

Matter of fact, I saw more than one press report from the summer that referred to the buyers as the *Mickelson group* or the *O'Malley-Mickelson group*...

...and therein lay the problem, at least that's my opinion.

PS...Arte Moreno is a brilliant guy, I wouldn't be the least surprised to see him sell the Angels in the not too distant future.
12.19.2012 | Unregistered CommenterDTF
Tighthead, I find your comment very interesting. What does that "model" look like in your opinion? My guess would be that you are referring to owners that consistently try to maximize profitability for partners/owners vs. leaving some profits on the table and using those funds to get a little crazy paying players and coaches!

A prime example of the former is the owner of the Carolina Panthers

If you need a good laugh check out this full page ad a group of them recently took out absolutely tattooing the owner for not being "committed to winning" -->

findnsave (dot) charlotteobserver (dot) com/Local-Ads/a-422551/Perturbed-Panther-PSL-Owners-Federation/20599202
12.19.2012 | Unregistered CommenterDTF
Would have been cool to see him go with it but I agree his money can go to better things shoot move to texas alot of golf here hehe would be cool to see him play as well I play myself and love watching how he can swing left handed its an art and that is a Master.
12.19.2012 | Unregistered CommenterBeamer
Beamer.... With a few periods, that group of words may have became English. Not trying to be the punctuation police, but come on, dude....

I think everyone has added some interesting comments that all have a ring of truth... and additionally his health / location may have an interaction....as well as an oft repeated mention of politics.

Good luck to PM on whatever way the wind blows.
12.19.2012 | Unregistered Commenterdigsouth
Ooh digger that's funny. Odd part about it is after reading that post kinda figured it might really be how Rich Beem writes -- makes sense huh?!
12.19.2012 | Unregistered CommenterDTF
c'mon you guys haven't you ever read Faulkner he was famous for stream of consciousness one of our great American writers and you shouldn't make fun unless you've read The Sound and The Fury I wouldn't be so quick to criticize thank you and good night
12.20.2012 | Unregistered CommenterBobby D
Bobby D

Well done I have to give you a +1 and an invite to chime in more often I am a First Edition collector and have not delved in to much Willie F but will consider it if ever a ship were to sail my way again and a Merry Christmas to you and yours as well as a safe holidays thank you and good morning!

Del, the Beamer do rattle on a bit now do he!
12.20.2012 | Unregistered Commenterdigsouth
well mr dig I would highly recommend "The Bear" from Faulkner's book of stories entitled "Go Down Moses" it is a fine example of his work and an ejoyable read you know Faulkner was a Southern boy not like myself a Yankee through and through but I accept all types in my life I have been subject to much abuse about my writing style and even have been banned but it doesn't stop me I am stubborn and determined you have a great holiday season and a prosperous new year thank you and adieu
12.20.2012 | Unregistered CommenterBobby D
If you're involved with MLB, you're not allowed to bet (horse racing excepted). Phil likes to bet. End of story.
12.20.2012 | Unregistered CommenterGolden Bell
GB, bullshit. Phil was part of the purchasing group that MLB approved. I am certain he was fully vetted before the approval was given. Clearly something changed between Phil and the controlling partner.

digger and Bobby, please go on! Funny stuff...
12.20.2012 | Unregistered CommenterDTF
I imagine Phil was looking to leverage maximum public goodwill for minimal investment. If the ownership group comes to be perceived as cheap by the fans, and the Padres are looking more like the Royals than the Yankees, Phil becomes a target of that scorn.
12.20.2012 | Unregistered CommenterTighthead
yeah faulkner has his (very) good points but the stream of consciousness that begins the sound and the fury was narrated by how should we put it in the current era a developmentally disabled benjy compson who in his own time would have been and was an emblem of the familys shame at having brought forth into the world such an embarrassment anyway of all his books the sound and the fury clearly shows that mr bill must have already been nipping at the bottle in the nineteen twenties after he was fired as postmaster because he didnt think he should be at the beck and call of every sonofabitch who could afford a two cent stamp but the stories in go down moses truly are magnificent and not as creepy as a rose for emily as i lay dying is one of the best things ever written in the english language along with light in august however as it were and mr bill should have left the stream of consciousness thing to whatshisname the famous irish dude whose first or second most famous book stares at me still from the shelf with a sneer on its face daring me to try it one more time as an old man sitting right next to the collected works of samuel beckett which also laugh at me
12.20.2012 | Unregistered CommenterKLG
For you, Digs, a signed first edition of The Sound and the Fury:
http://www.abebooks.com/servlet/SearchResults?an=William+Faulkner&bi=0&bx=off&dj=on&ds=30&fe=on&recentlyadded=all&sgnd=on&sortby=17&sts=t&tn=The+Sound+and+the+Fury&x=65&y=7
You would think the shipper would eat the $10 postage. Maybe Geoff can go pick it up for you. LOL!
12.20.2012 | Unregistered CommenterKLG
wow that's a lot of moolah for a first edition Faulkner but this is a golf blog you guys are wandering and straying I hope the moderator controls himself he doesn't like it when you don't folllow his train of thought but forgive me I am an English major don't get me started about one of my colllege profs who was a Melville scholar and actually visited Herm's home and got permission to rifle through his belongings I got more Moby Dick and Billy Budd than one college kid could handle but it was all part of my learning experience including my failure to make the freshman golf team because I was too busy being a drunken sot at the bars downtown
12.20.2012 | Unregistered CommenterBobby D
Golden Bell might have hit the nail square on the head. Ask Pete Rose how MLB looks at gambling. I don't think his betting background would pass the litmus test w / MLB. Callaway paid a ton to take care of PM's vegas betting debts. One reason he can't or won't leave Big Bertha for NIKE with the rest of the new signees.
GUYS, Major League Baseball APPROVED the purchase of the Padres by the O'Malley-Mickelson Group. At least that's what the press reports indicate.

I guess it's possible that MLB was completely asleep at the switch and gave their approval, and then later backtracked on Phil specifically....but that seems real far-fetched.
12.20.2012 | Unregistered CommenterDTF
what DTF said
12.20.2012 | Unregistered CommenterBobby D
Here's an interesting quote. Seems odd to me that Phil wouldn't have stroked the check prior to the close. That article appeared on August 30th. Some fairly vague wording there....

espn (dot) go (dot) com/mlb/story/_/id/8316473/new-owners-omalleys-take-charge-san-diego-padres

"Phil Mickelson has said he'll be involved in the group. Peter Seidler said that due to conflicting schedules and the closing of the deal, he hasn't had a chance to sit down with the golfer to finalize his involvement, but hopes to do so in the next few weeks. Seidler said there's one spot left in the ownership group and it's being held for Mickelson.

Mickelson is "very interested in this and hopes to get the deal done," the golfer's spokesman, T.R. Reinman, said Wednesday."
12.20.2012 | Unregistered CommenterDTF
Upon further reflection, I very well could be wrong.

Been thinking about that passage above...all the press reports I remember seeing suggested that the *O'Malley-Mickelson group" had been approved to buy the Padres.

However, that article linked above says something entirely different.

The O'Malley group was approved, AND closed the deal, and all the while the only "ownership group" spot that wasn't solidified, was Phil's spot. The O'Malley's entered exclusive negotiations in June, were approved as the buyer by MLB on Aug 6th, and closed on Aug 28th. I cannot envision any scenario where any potential partner had not confirmed their specific participation, level of dollar commitment, and confirmed the funds to the controlling partner, before exclusive negotiations commenced, much less approval and/or the close. Phil played 1 event in June and 2 in July, that would have been the key timeframe for buttoning up all the partners -- sure appears that there was plenty of opportunity Seidler and Phil to "sit down".

Looks like MLB signed off on everything that O'Malley's put forth, except for having Phil as a partner -- in restaurant parlance that particular wrinkle was given a "Grade Pending".

Guess the deep dive wasn't favorable....
12.21.2012 | Unregistered CommenterDTF
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12.25.2012 | Unregistered Commentersven erlandson

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