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Nicklaus Paints Bleak Picture On Golf Course Design

Monday, 27 Jul 2009 | 4:24 PM ET

Jack Nicklaus was on CNBC today to talk about his new branding alliance with designer David Chu and Howard Milstein. During the interview, Nicklaus was asked about his golf course design company, which manages 341 courses.

Golden Bear's Retail Attack
Golfing legend Jack Nicklaus is teaming up iwth Nautica to develop a lifestyle brand, with Jack Nicklaus, Nicklaus Companies chairman; David Chu, Nautica founder; Howard Milstein, New York Private Bank & Trust Corp. CEO; and CNBC's Erin Burnett.

Nicklaus: Right at the present time, we have 40 golf courses under construction, which is down. We normally have about 60. We have been 120 or 130 golf courses under contract, as you’re going through zoning or financing or whatever they might be. So our business is still there. Yes, it is a slowdown. A big slowdown. And I think that golf course design at this present time is a luxury –- certainly not something that somebody does every day. We still have a business...In China, golf is just exploding. China is probably our key market today.”

Questions? Comments? SportsBiz@cnbc.com

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