Nicklaus ‘You can use your own name brand’

Jack Nicklaus (pictured) will be able to use his name again when planning or designing future golf courses.

The New York State Supreme Court ruled on the 14th (local time) that the accused Nicklaus may use his name in design work. Nicklaus was sued by Howard Milstein, chairman of 8AM, a financial investor who bought his company’s brand in 2007.

Nicklaus was sued by the Jack Nicklaus Company in May last year and was unable to use his name in business for about 7 months.

Nicklaus transferred a 49 percent stake in Jack Nicklaus Company to New York Private Bank & Trust, run by Chairman Milstein, for $145 million (189.6 billion won). At the time, Nicklaus signed a contract to continue working to expand the brand. However, it was sued by 8AM in a New York State court in May.

The reason for the lawsuit was that “Nicklaus engaged in malicious conduct contrary to the best interests of the Company, including willfully and maliciously damaging the Company.”

Nicklaus attended the Otter Open of the DP World Tour held in Belgium, promoted the event without consultation with the company (Jack Nicklaus Company), participated in the development of Masters and PGA Tour video games without consultation with the company, expressed opinions, Discussed a $100 million offer from LIV Golf, which is run by the Saudi sovereign wealth fund. 메이저놀이터

Since then, Nicklaus has been unable to wear his name or represent any of his course designs at official events. With more than half of his stake gone, Nicklaus could do nothing.

But late last month, after a three-day hearing, the New York Supreme Court ruled that Nicklaus could use his name for golf course design and other businesses, except for commercial endorsements.

Although Nicklaus’s own Jack Nicklaus Company, which transferred his stake, has become unusable, it is expected to continue designing the course through a new company called 1-JN in the future.

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