As golf courses face a reckoning across the country, Jack Nicklaus-designed courses are largely thriving. WSJ’s Shelby Holliday talks to the golf legend about adapting during his 50 years in the business.

It's no secret that sports are growing as a major asset class, attracting those who have a passion for the industry and who also want to garner a meaningful profit but how did this transition happen? We speak with IMG alum George Pyne...

1. ls St. Andrews course

2. ls spectators running for best positions at
green
3. ms Tony Lema putting and
sinks ball
4. Lem
a collects ball
5. ls Jack Nicklaus
putts and sinks ball
6. ms Lema &am
p;...

Pirates win 1960 World Series

Dodgers win 1963 World S
eries
Chicago Blackhawks win S
tanley Cup

Ice-hockey game
Wilt Chamberlain is new bas
ketball star in 1962
Arnold Palmer wins 1964 M
asters over Jack...

1. ws Lema drives off 18th tee

2. ws cro
wds
3. ms Lema putts twice before si
nking shot<
br/>4. ms crowd
5. ls Miguel
drives off 16th tee
6. ms O'C
onnor drives
off 15th tee
7. ms crowdsr/>8. vs...

1. ms Wentworth Golf Club sign

2. gv club house with cars parked ou
tside
3. ms board reading "Piccadilly World Match Play Tournament 9-10-11 Octob
er 1964"
4. mls American golfer Ken Venturi drives, aud
ience...

1. ms leaderboard with flags; zoom in to sign reading COPA Canada 1965

2. ms a competition official and specta
tors
3. ms Tony Lema and Jack Nicklaus of the USA stand with George Knudson and Wilf Homenuik of Canada...

1. cu Wentworth Club sign

2. ms banner Piccadilly tournament, tilt down to entr
ance
3. ms crowds, clubhouse in
background
4. ms Nick
laus drives off
5. ms Devlin drive
s off, pan to course
6. ms...

Huge crowd at the Augusta National Golf Club where the 1967 Masters Tournament is underway / CU Jack Nicklaus / cut at 36th hole and walks off with caddy / CU Julius Boros makes the hole / Bobby Nicholes gets a birdie / Nichols raises...

U.S. Golf Open

Sun City Golf tournament arrivals including Gary Player, Jack Nicklaus / Lee Trevino and Nicklaus practice golf swings. Sun City Golf tournament on December 29, 1981 in Sun City, South Africa (Footage by Getty Images)

CU Jack Nicklaus playing golf at British Open / crowd watching through fence around green / CU Roberto De Vicenzo playing golf / large crowd in the gallery watching the action / Nicklaus and Vicenzo playing same hole / Vicenzo drops ball...

Crowd running across National Golf Club fairways to watch Jack Nicklaus play in the Masters Gold Tournament / Nicklaus attempts a hole in one but falls short and ties the first game / Nicklaus with other winners Tommy Jacobs and Gay...

The induction of Woods, Tim Finchem, Susie Maxwell Berning and Marion Hollins brought the Hall of Fame to 164 members.

Apr.12 -- Former professional golfer Annika Sorenstam discusses the inaugural Augusta National Women's Amateur tournament, off-range participation growth in the sport, and her course designs. She speaks with Bloomberg's Scarlet Fu on...

Sep.04 -- Golf legend Jack Nicklaus reflects on the 1986 Masters Tournament, when he sealed his 18th major win and became the oldest winner of a Masters at 46 years and 82 days. "I remembered how to play and I remembered how to finish,"...

Sep.04 -- Golf legend Jack Nicklaus explains why Pebble Beach is his favorite course and reminisces about his last tournament at the British Open in St. Andrews, Scotland, in 2005. His comments come on the latest episode of "The David...

Sports Review Of 1962

Highlights of the action in a variety of events include track and field, horse-racing, baseball and basketball...In golf, a new star makes his professional debut - Jack Nicklaus wins the U.S. Open...President...

Mar.13 -- Golf legend Jack Nicklaus joins Bloomberg's Vonnie Quinn to explain what advice he'd offer his younger self and whether or not the new rules in golf make the game better.

Elder broke down racial barriers and paved the way for Tiger Woods and many others to follow in his footsteps.

Sep.04 -- Golf legend Jack Nicklaus talks about why he'd love to have partnered Bobby Jones, Ben Hogan and Tiger Woods. He also discusses playing with U.S. presidents Donald Trump, Gerald Ford and Bill Clinton. The comments come on the...

Sports Review Of 1962

Highlights of the action in a variety of events include track and field, horse-racing, baseball and basketball...In golf, a new star makes his professional debut - Jack Nicklaus wins the U.S. Open...President...

Lindsey Vonn and Tiger Woods pretty much leave the race for records out of their relationship.

Even as the power couple chase after historic marks in their respective sports, the topic is rarely...