Nicklaus Companies LLC Closes Sale of Business to Jack Nicklaus-Backed 20 Majors, LLC

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WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Mar 27, 2026--

Nicklaus Companies LLC (the “ Company ”), home to some of the most prestigious global brands in golf, and a worldwide leader in golf-course design, today announced that it has successfully closed on the sale of substantially all of its assets, including its licensing and design businesses, to 20 Majors, LLC (the “ Buyer ” or “ 20 Majors ”), an investment group led by Jack Nicklaus.

The sale followed a robust chapter 11 sale process, which culminated in an auction at which 20 Majors was the successful bidder. On March 9, 2026, the sale was approved by the U.S. Bankruptcy Court for the District of Delaware.

The sale also encompasses a global resolution of ongoing litigation amongst Jack Nicklaus and the Company’s prepetition investor, PMP Nick LLC.

The sale represents a new chapter for the iconic Jack Nicklaus™, Golden Bear™ and Nicklaus™ brands as well as the world-class golf-course design business that bears Mr. Nicklaus’ name. 20 Majors is committed to continuing the Company’s proud legacy of commitment to the game of golf, growing the Company’s business and brands, and making golf more approachable and enjoyable for all. 20 Majors’ business lines will continue to include golf-course design, golf and real estate community development, and the marketing and licensing of lifestyle products worldwide under the iconic Jack Nicklaus and Golden Bear brands.

Alan Carr, independent manager of the Company, said: “We are thrilled to see Nicklaus Companies’ iconic merchandising and design businesses reunited with the Nicklaus family. The sale represents a major step forward in the Company’s mission to deliver world-class products and services and grow the game of golf.”

Spencer Wells, independent manager of the Company, said: “We are proud to have been able to guide this case to a place where years of complex litigation is being put to bed, and of course, we’re thankful to the Company’s management team, employees, and all advisors involved for their tireless efforts.”

“While this moment is about the future, my family and I will be eternally grateful to our attorneys at Stearns Weaver Miller, Gene Stearns, Matt Buttrick, Cecilia Duran Simmons, and Albert Lichy for their passionate advocacy on our behalf over the last four years,” Mr. Nicklaus said.

A spokesperson for PMP Nick LLC, said: “Our main concern has always been with Nicklaus Companies and its employees, many of whom have worked at the company for decades, dedicating their lives to promoting and enhancing Jack Nicklaus’ legacy and brand. Putting this matter behind us is in the best interest of everyone — especially those dedicated employees. We’re confident their dedication will continue to be rewarded under new ownership.”

He added: “We wish Gary Nicklaus and his team, as well as Jack and the entire Nicklaus family, all the best.”

Phil Cotton, Nicklaus Companies Chief Executive Officer, added: “I would like to thank all our employees for their hard work and professionalism and our clients for their unwavering support during this period. The iconic brands and associated businesses are best in class and are poised for continued growth for many years to come.”

Advisors

The Company’s sale and restructuring are being overseen by an independent Special Committee comprised of L. Spencer Wells and Alan J. Carr of Drivetrain, LLC and the Company was advised by Weil, Gotshal & Manges LLP and Richards, Layton & Finger P.A. as legal counsel, Cassel Salpeter & Co. as investment banker, and Alvarez & Marsal LLC as financial advisor. 20 Majors was advised by Morris, Nichols, Arsht & Tunnell LLP as legal counsel and Raymond James & Associates, Inc. as investment banker. Jack Nicklaus was advised by Stearns Weaver Miller and Cole Schotz. PMP Nick LLC (the Company’s prepetition lender) was advised by Kirkland & Ellis LLP and Young Conaway Stargatt & Taylor, LLP as legal counsel.

About Nicklaus Companies

Nicklaus Companies’ goal is to enhance the golf experience and to deliver quality branded products and services on a global basis that reflect the high standards of the company. The Nicklaus Companies businesses include golf-course design, advisory services, the development of golf and real estate communities and the marketing and licensing of lifestyle products and service offerings worldwide under the iconic Jack Nicklaus™, Golden Bear™ and Nicklaus™ brands. Golden Bear™ and Jack Nicklaus™ brand products span the world from the U.S. to Europe and throughout Asia. Nicklaus Companies’ branded products range from apparel, headwear, equipment and leather goods to restaurants, beverages and golf communities. On the golf course design side, Nicklaus Design and their team of talented designers are recognized as the world leader, with almost 450 courses open for play worldwide, across 50 countries and 40 U.S. states. Since 1968, many of Nicklaus Design’s award-winning courses have played host to the world’s top championships across all major tours, including hosting over 300 PGA TOUR sanctioned events. The company creates courses that are both enjoyable and challenging for all players, regardless of playing level.

View source version on businesswire.com:https://www.businesswire.com/news/home/20260327014418/en/

CONTACT: Peter Ottaviano

Senior Communications Manager

Weil, Gotshal & Manges LLP

(212) 310-6719

[email protected]

KEYWORD: FLORIDA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: GOLF GENERAL SPORTS LICENSING (SPORTS) SPORTS

SOURCE: Nicklaus Companies LLC

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PUB: 03/27/2026 09:23 PM/DISC: 03/27/2026 09:25 PM

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