Billy Horschel has weighed in on Phil Mickelson's uncertain future in professional golf, offering a candid take on what could happen if LIV Golf folds after this season. With Saudi Arabia's Public Investment Fund (PIF) set to cut its financial backing, the breakaway league's survival hangs in the balance—and so does the career path of one of its biggest stars.

Mickelson, 55, has only teed it up in one LIV event this year due to a family health matter, but he remains a central figure in the circuit's identity. If the league fails to secure new funding, speculation is swirling: would he retire, or try to return to the PGA Tour? Some fans think he might hang up his clubs for good, but Horschel isn't so sure about a smooth comeback.

Speaking on the Sky Sports Golf Podcast, Horschel drew a sharp analogy to real estate negotiations. "I think the three guys that had the opportunity to take the deal that Brooks [Koepka] did," Horschel said, "they are going to find that the deal they are going to get possibly from the PGA Tour is not going to be the same deal. It's going to be probably a little bit worse—maybe a little more money, but with more stipulations in terms of playing opportunities and rights. It's no different than when you are selling a house or buying a house. If you have a price and a person doesn't agree, when they come back, that offer is not on the table—that offer is going to change a bit."

For golfers like Mickelson, who were early and vocal leaders of the LIV movement, the road back to the PGA Tour is rumored to be littered with obstacles. Horschel's comments suggest that any return would come with tougher terms than the ones initially offered to players who stayed loyal. As the 2027 season looms and LIV's funding cliff approaches, Mickelson's next move—whether retirement, a return, or a pivot—remains one of golf's biggest unanswered questions. For fans and apparel enthusiasts alike, it's a storyline that could reshape the sport's landscape for years to come.