Nicklaus, who counts a record 18 major titles among his 73 PGA Tour wins, said in an article on the Fire Pit Collectivewebsite that organizers of the series asked him to spearhead the big-money circuit.
"I was offered something in excess of $150 million by the Saudis, to do the job probably similar to the one that Greg (Norman) is doing," Nicklaus said in the report.
"I turned it down. Once verbally, once in writing. I said, 'Guys, I have to stay with the PGA Tour. I helped start the PGA Tour."