Former golf champion Jack Nicklaus has teamed up with Howard Milstein, the New York property billionaire, to expand his golfing empire. The Times
Nicklaus is selling a stake in his Nicklaus Cos licensing, sports equipment and golf course design business for about $145m (£74m).
Milstein, a former owner of the New York Islanders ice hockey team, will develop golf courses with Nicklaus outside the saturated US market. They have planned projects in India, South Korea, China, Russia, Ukraine, the Czech Republic, Greece, Croatia and Turkey.