Jack Nicklaus is Being Sued By the Nicklaus Companies
Nicklaus, 82, is being sued for breach of contract with the Nicklaus Companies, as well as tortious interference and breach of fiduciary duty.
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. Jack Nicklaus II is vice Chairman of the Nicklaus Companies, according to their web site.
According to the complaint, Nicklaus was paid $145 million in 2007 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.
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.”
Read full story here.
