Jack Nicklaus wins $50 million lawsuit against own company after LIV, dementia accusations leaked

Golf legend Jack Nicklaus was awarded $50 million on Monday in his defamation lawsuit against his former company, Nicklaus Companies, after he accused the company and two executives of spreading false rumors about him considering a $750 million deal to join LIV Golf.

A Palm Beach County, Fla., jury reached the verdict after finding that Nicklaus’ reputation was damaged and the 85-year-old was exposed to “ridicule, hatred, mistrust, distrust or contempt” over the allegations, which included claims that the 18-time major champion had dementia and wasn’t mentally fit to manage his affairs, according to the Palm Beach Post.

Billionaire banker Howard Milstein, the executive chairman of Nicklaus Companies, and executive Andrew O’Brien were named individually in the lawsuit, but the jury ruled in their favor, meaning they won’t have to pay additional damages.

Nicklaus hugged family and friends after the verdict was reached, the Palm Beach Post reported, though he directed questions to his attorney.

“It’s always hard in a defamation case to prove damages to reputation, because in particular for a guy like Jack, it’s always such a good one,” Nicklaus’ attorney, Eugene Stearns, told ESPN. “But I think what was important was the dispute that arose 3½ years ago when the company told the world that Jack was selling out the PGA Tour for the Saudi golf, when it was not true. So, we’re happy that Jack’s been vindicated.”

The allegations were first made in a lawsuit the company filed against Nicklaus in New York, which spread in the media.

“These are the people who planted a story,” Stearns told jurors during the closing arguments, per the Palm Beach Post. “The story is a lie. … What that they wanted to create in the minds of the public is Jack Nicklaus is an old guy who sold out to the Saudis.”

The defendants’ attorneys said the execs never wanted to smear Nicklaus.

Nicklaus’ company, Golden Bear International, was folded into the new Nicklaus Companies in a $145 million transaction in 2007.

When Nicklaus retired from his executive role in 2017, it triggered a five-year noncompete clause that stipulated he couldn’t endorse products outside of his former company or design golf courses, per the Palm Beach Post.

Nicklaus sought arbitration in 2022 to confirm he could use his name, image and likeness again, and he was then sued by Nicklaus Companies for allegedly breaching agreements. The company’s suit included the LIV Golf accusations.