Golf Club Atlas
GolfClubAtlas.com => Golf Course Architecture => Topic started by: Steve_ Shaffer on May 24, 2022, 12:32:58 AM
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Jack Nicklaus Sued By The Company That Acquired The Rights To His Promotional Activities, Branding And Golf Course Design Business
Fifteen years ago, Nicklaus and the company he used to manage his commercial activities (GBI Investors, Inc. i.e. “Golden Bear”) effectively brought others into the business in exchange for a $145 million payment. The transaction was accomplished by the creation of a new entity called Nicklaus Companies, LLC, in which Nicklaus retained a substantial ownership interest and rights of participation and control. The new entity included other participants — presumably those who forked over the $145 million.
According to the complaint, the essence of the arrangement was that “Mr. Nicklaus can engage in the businesses he previously conducted through GBI—including golf course design services, licensing the Nicklaus IP and commercial endorsements—only through Nicklaus Companies and its operating subsidiaries.” This presumably would enable the investors to financially benefit.
The complaint proceeds to set forth various instances in which Nicklaus sidestepped Nicklaus Companies (and the investors) by pursuing opportunities on his individual behalf.
http://www.golfdisputeresolution.com/?p=7712 (http://www.golfdisputeresolution.com/?p=7712)
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Opinion: Jack Nicklaus lawsuit reveals a Golden Bear in danger of becoming tarnished
https://www.yahoo.com/sports/opinion-jack-nicklaus-lawsuit-reveals-173214262.html
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Opinion: Jack Nicklaus lawsuit reveals a Golden Bear in danger of becoming tarnished
https://www.yahoo.com/sports/opinion-jack-nicklaus-lawsuit-reveals-173214262.html (https://www.yahoo.com/sports/opinion-jack-nicklaus-lawsuit-reveals-173214262.html)[/size]