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Mickelson considering baseball buyout

By Tom McGowan, CNN
updated 12:29 PM EDT, Tue May 29, 2012
Golf star Phil Mickelson had some batting practice ahead of the Boston Red Sox-New York Yankees game last September.
Golf star Phil Mickelson had some batting practice ahead of the Boston Red Sox-New York Yankees game last September.
STORY HIGHLIGHTS
  • Phil Mickelson is considering an investment in the San Diego Padres
  • The four-time major winner could bid for baseball team as part of a consortium
  • The San Diego native earned reported $48 million between May 2011 and May 2012
  • Forbes magazine estimates Mickelson has pocketed $378 million in last eight years

(CNN) -- Every sports fan has daydreamed about what it would be like to own their hometown team.

For the vast majority of enthusiasts it is a far-fetched, and unaffordable, fantasy. But if you are one of the world's wealthiest golf stars, it is an investment you can seriously consider.

And it would seem four-time major winner Phil Mickelson is pondering such a purchase, after the California native revealed he is part of a group considering a bid for the San Diego Padres Major League Baseball (MLB) franchise.

"I've had the opportunity to invest in other sports franchises, and I've turned it down in the past," the 41-year-old told the San Diego Union-Tribune website.

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"This was a unique opportunity with families that had done this before and know how to do it right and want to get involved in the community."

Mickelson, who was born in San Diego, is the second-highest earner on the PGA Tour, having amassed winnings of $66 million since turning pro in 1992.

According to the financial magazine Forbes, the three-time Masters champion pocketed $48 million in winnings, endorsement and other income between May 2011 and May 2012 -- making him the sixth highest earner in sport.

Over the eight years Forbes has been compiling the list, it is estimated Mickelson has earned $378 million.

Mickelson, who is part of a group of potential investors which includes four grandchildren of former Los Angeles Dodgers owner Walter O'Malley, revealed he would be putting "a lot" of his own money into the deal.

"Given the price tag," said Mickelson, "it's a significant amount."

The size of the offer is not known, but the Dodgers were sold for $2.1 billion last month to a group including former basketball superstar Magic Johnson.

"When we met with Phil we were inspired by his commitment to San Diego and his passion for the Padres," Kevin O'Malley, one of the other potential investors, said in a prepared statement released to the PGA Tour's website.

"He is a world-class person, athlete and businessman with a strong history of charitable leadership and he will be an ideal partner for many years in San Diego."

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