Rob Schumacher/The Republic / USA TODAY NETWORK
Legendary golfer Jack Nicklaus pocketed an immense $50 million payout on Monday after winning a defamation lawsuit against Nicklaus Companies, owned by billionaire banker Howard Milstein.
The suit involved comments made by Millstein and other Nicklaus Companies officials during a previous lawsuit in a New York court.
Jack Nicklaus Wins Big In Defamation Suit
According to the defamation case, Nicklaus claimed the defendants suggested that he had considered a massive $750M deal to become the face of the Saudi-backed LIV Golf league and then leaked said info to the press.
Nicklaus, however, claims he never considered the offer and suggested that some in Nicklaus Companies tried to force him out because he did not want to work with LIV.
“According to Nicklaus, he had no interest in the offer and declined because he felt the PGA Tour was an important part of his legacy, and if the PGA was not in favor of a new league, he did not want to be involved,” court documents read, according to ESPN.
After Nicklaus turned down the offer from LIV, some in the company suggested that the 85-year-old, 18-time major winner was not fit to hold a leadership role.
“What they said was, ‘You need to have the keys taken away,'” Nicklaus’ attorney, Eugene Stearns said. “But the combination of all of that was unfortunate, and we’re happy that this is all soon going to be behind Jack, and hopefully the Nicklaus Companies will do fine, as well. But it was an unfortunate incident, and hopefully now it’s over.”
Nicklaus began working with the company in May 2007 as part of a $145M deal.
Nicklaus later resigned from the company in 2017, triggering a five-year noncompete clause. He also stepped down from the company’s board in May 2022.