Golf legend Jack Nicklaus has been awarded $US50 million ($A75m) after a successful defamation lawsuit against a company he founded.

The 85-year-old took Nicklaus Companies to court in Florida allegedly the company had spread false speculation that he would team up with LIV Golf in a $US750m deal.

Fiercely protective of his relationship with the PGA Tour, Nicklaus also accused the company of claiming he was mentally unfit to run his businesses.

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A six-person panel ruled in favour of 18-time major champion Nicklaus against Nicklaus Companies.

“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’s attorney Eugene Stearns told ESPN.

“But I think what was important was the dispute that arose three and a half 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.”

In court he described the claim that Nicklaus ‘needed saving’ because of his health as ‘a lie’, according to The Palm Beach Post.

Nicklaus and Nicklaus Companies had initially been in court in New York over the right to use his name, image, likeness and other trademarks.

Nicklaus left the company in 2017 but remained on the board until 2022.

He was cleared to begin designing golf courses again in 2024 when an arbitrator ruled on a non-compete cause.

“We’re happy that this is all soon going to be behind Jack,” Stearns said.

“Hopefully the Nicklaus Companies will do fine, as well. But it was an unfortunate incident, and hopefully now it’s over.”

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