A Florida jury delivered a $50 million verdict to Jack Nicklaus in his defamation suit against Nicklaus Companies, the enterprise now controlled by billionaire banker Howard Milstein.

The award comes months after a Manhattan trial judge dismissed the company’s legal effort to restrict Nicklaus from using his own name to promote his golf course design ventures and other business endeavors. The 85-year-old icon filed his countersuit in response to damaging statements made during earlier litigation. In his claim, Nicklaus alleged that defendants falsely insinuated he had entertained a $750 million offer to become the public face of the controversial Saudi Arabian-backed LIV Golf League, then deliberately disseminated these fabrications to media organizations.

Attorneys representing Nicklaus (the golfer) presented evidence that a Nicklaus Companies official had actually arranged his 2021 meeting with Golf Saudi representatives to discuss designing a Saudi Arabian golf course. During that meeting, Nicklaus discovered that Golf Saudi sought to recruit him for a leadership position with LIV Golf. “According to Nicklaus, he had no interest in the offer and declined because he considered the PGA Tour an integral part of his legacy; if the PGA opposed a rival league, he refused to participate,” court documents stated.

Court filings reveal that Nicklaus also accused defendants of suggesting he lacked the mental capacity to manage his business affairs and was experiencing dementia.

The jury determined that the company damaged the 18-time major champion’s reputation and subjected him to “ridicule, hatred, mistrust, distrust or contempt.”

While the jury found against the company, it cleared Milstein and Nicklaus Companies executive Andrew O’Brien of personal liability.

The corporate dispute traces back to May 2007, when Nicklaus Companies paid the legendary golfer $145 million for exclusive rights to his golf course design services along with all marketing, promotional and branding rights. Nicklaus resigned from the company in 2017, activating a five-year noncompete provision that barred him from independently designing golf courses. He subsequently stepped down from the company’s board in May 2022.

Shortly thereafter, Nicklaus Companies initiated litigation against Nicklaus and his company GBI Investors, alleging tortious interference, breach of contract and breach of fiduciary duty. The complaint contended that Nicklaus had systematically diverted business opportunities away from Nicklaus Companies for his personal enrichment.

In July 2024, a Florida arbitrator ruled that Nicklaus was no longer bound by the noncompete clause and possessed full freedom to design golf courses independently.