Last year, Mickelson flirted with becoming a part-owner of the San Diego Padres franchise, which sold for $800 million in August. He was asked Sunday whether there was a correlation between the tax increases and what happened to the Padres' deal.
In November of 2012 Prop 30 was passed in the State of California. It was one of the first tax rate hikes in years and it passed by over 10%. The people were lead to believe that it would all go towards education and mainly the upper class would be the one taking a hit. Well rumor has it the schools are going to get shortchanged and fellow San Diegan Phil Mickelson is in that upper class and has been hit hard by it. So hard in fact, that it caused him to pass on the Padres ownership spot and a move out of California could be in the cards.
After being silent and given no explanation, it's interesting to hear the real reason why Mickelson bailed on the ownership spot. It also makes one wonder if the group was relying on Phil's money when they bought the team. He stated that he was going to be a significant contributor and would play a part in the day to day operations. Is that a reason for the non-existent Padres off-season? Le sigh....the life of a Padres fan.
Ron Fowler specifically said the ownership group was "over-subscribed" even without Phil. That would indicate that finances had no effect on the off-season. I think the real reason for the inaction was the questions about the health of the pitching for this year, the reason they only sought veteran pitchers on one year contracts. By the 2014 season, the health questions would have been answered and there would be a new crop of promising pitching ready to make the jump to the show, so why bring in an expensive outsider on a multi-year contract?
As for Phil, it wasn't just the state income tax going up to the highest in the nation, it was the fiscal cliff talks in December raising the highest rate from 35% to 39.6% and the capital gains on investments going up. That's when he finally bailed and said he couldn't make the long term commitment to the Padres OR THE CITY, meaning he'll join other golfers living in Florida, Texas or Tennessee.