Bankrupt Nicklaus Cos. golf business seeks to auction company assets

By Brian Bandell – Real Estate Editor, South Florida Business Journal
Dec 26, 2025

Palm Beach Gardens-based golf business Nicklaus Cos. could auction off its assets through U.S. Bankruptcy Court.

The company utilizes intellectual property purchased from legendary golfer Jack Nicklaus for its business, including Nicklaus Design, Golden Bear, and Golden Bear Publishing. While Nicklaus is not an investor in the company, he holds a significant judgment against the company.

Nicklaus Cos., GBI Services LLC and related affiliates filed Chapter 11 reorganization in Delaware on Nov. 21. They listed assets between $10 million and $50 million, and liabilities between $500 million and $1 billion. The debtor has yet to file a detailed summary of schedules with a breakdown of its assets.

The biggest claim was a $50 million jury award Jack Nicklaus won in October from a defamation lawsuit against Nicklaus Cos. The company said it plans to appeal the verdict.

On Dec. 18, Nicklaus Cos. and affiliates filed a motion to hold an auction for all of their assets and designate a stalking horse bidder for that auction. No stalking horse bidder – who would set the opening bid – has been identified yet. The company has been working with investment banker Cassel Salpeter & Co. since Nov. 15 to prepare a sale and marketing process for the business and it started outreach to potential buyers on Dec. 8, according to the motion.

In the proposed order, the bid deadline would be Feb. 2, 2026 and the auction would take place two days later.

A hearing on the motion for an auction is set for Jan. 8, 2026.

Wilmington, Delaware-based attorney Zachary I. Shapiro, who represents the debtor in the case, couldn’t be reached for comment.

Nicklaus filed a motion to dismiss the Chapter 11 case on Dec. 24, but that motion is under seal and the documents haven’t been published.

Click here to read the PDF.

Click here to read the full article.