Jack Nicklaus Company sues Jack Nicklaus
In mid-May, a lawsuit was filed in New York State Supreme Court against the 18-time Major winner, accusing him of breach of contract with Nicklaus Companies as well as tortious interference and breach of fiduciary duty.
Who filed the complaint, you may ask? Well, it was filed by Howard Milstein, a New York businessman, Chairman, President and CEO of New York Private Bank & Trust and Executive Chairman of the Nicklaus Companies. The reason for the complaint is said to be that Nicklaus was paid $145 million in 2007 to provide proprietary services and goods to Nicklaus companies which over time either failed to measure up or worked directly against the company. .
Apparently, there were three specific instances where the 82-year-old breached the contract; these allegedly included receiving a substantial cash payment for the promotion of the 2022 Soudal Open, a recent DP World Tour event, as well as alleged misconduct involving a video game being developed with the Masters and the PGA Tour.
The latest alleged violation allegedly involved misconduct regarding negotiations with the PIF Saudi Investment Fund, where Nicklaus allegedly received a $100 million offer, which he declined, to lead the new Saudi-backed LIV Golf Invitational series. saudi.
In a statement released by the organization, Nicklaus said: “The claims made by Howard Milstein are false. Our relationship has been rocky, at best. I have little doubt of the outcome, but I have no intention of making a public spectacle of it, if it can be avoided.