Nicklaus, 82, is being sued for breach of contract with the Nicklaus Companies, as well as tortious interference and breach of fiduciary duty.
The Golden Bear, Jack Nicklaus, is being sued by Nicklaus Companies.
On May 13, a complaint filed in the Supreme Court of the State of New York against the 82-year-old golf legend alleged a breach of contract with the Nicklaus Companies as well as tortious interference and breach of fiduciary duty.
The complaint was filed by Nicklaus Companies. Its executive chairman is Howard Milstein, a New York businessman, chairman, president and CEO of New York Private Bank & Trust. The lawsuit is Nicklaus Companies, LLC v. GBI Investors Inc. and Jack W. Nicklaus. Nicklaus is the principal of GBI Investors Inc., an architectural services firm.
According to the complaint, Nicklaus was paid $145 million in 2017 to provide exclusive services and property to the Nicklaus Companies, which over time he has failed to live up to or has worked against the company directly.
The complaint alleges three specific instances of Nicklaus’ breach including receiving a substantial cash payment for promoting the 2022 Soudal Open, a recently played DP World Tour event in Belgium, wrongful conduct involving a video game being developed with the Masters and PGA Tour, and wrongful conduct regarding negotiations with the PIF Saudi Investment Fund where Nicklaus was reportedly offered $100 million to join the startup LIV Golf Invitational Series.
“Fortunately for Nicklaus Companies — and Mr. Nicklaus — the Company was eventually able to convince Mr. Nicklaus to stop exploring a deal for the endorsement of the Saudi-backed league,” reads a portion of the suit. “The Company essentially saved Mr. Nicklaus from himself by extricating him from a controversial project that could have not only tarnished his legacy and reputation, but severely damaged the Nicklaus Companies’ name, brands and business.
“Thanks to the intervention of Nicklaus Companies, the Company was able to minimize fallout from the situation and protect the goodwill and good name of both the Company and Mr. Nicklaus. The potential irreparable harm that Nicklaus Companies faced had Mr. Nicklaus’s unauthorized activities not been abandoned has been highlighted by the continued statements made by the PGA Tour and various leading Tour players and the substantial negative news coverage criticizing Phil Mickelson’s involvement as a paid endorser of the Saudi-backed golf league. If not for the efforts of Nicklaus Companies, Mr. Nicklaus could have been pilloried in the news media for accepting payment for what could be characterized as betraying the PGA Tour.”
Nicklaus released a statement through his organization.
“The claims made by Howard Milstein are untrue,” Nicklaus said in the statement. “Our relationship has been a difficult one, at best. I have little doubt about the outcome, but I don’t intend to make this a public spectacle, if it can be avoided.”
Article originally appeared on: Si.com
Mr Nick has some explaining too do .
Nah. A rich Jew in Milstein who happened to be able to purchase the Nicklaus label and Golf.com magazine for dirt cheap as those companies were going bust, revived them a bit, but realised that Jack is so much more than just that Golden Bear logo, and can’t stand losing a fight so he decided to take Jack to court for a deal he couldn’t touch because it’s the Jews against the Arabs and so he wanted to take a stand in court. Pathetic
JJ, you are nothing but an ignorant, uneducated anti semite. Keep your stupid opinions to yourself.
Sorry dude. The revival of the Jewish question is steaming up. They always go too far. Nicklaus got fucked by typical predatory Jewish behavior.
I smell kikery projectionism here.