Gary Player and controversial businessman Dave King have agreed to settle out of court after King earlier this year sued the South African golfing legend for R33.4 million.
Player’s lawyer, Rael Gootkin, confirmed that his client and King had come “to an agreement”, Afrikaans daily Beeld reported today.
Player said in June that he would prove in court that he did not owe his former friend a cent of the money being demanded from him.
King claimed Player never repayed a loan of R6.1 million after he borrowed the money 14 years ago, and he launched a bid to claim back the amount plus interest.
King asked the Grahamstown High Court to seize shares in a horse stud farm outside Colesberg.
He said in court documents that one of his trusts, Talacar Holdings, had a 49% share in the farm and Player had the other 51%.
At the time, the court granted an interim interdict to King.
Gootkin said he was not in a position to discuss the terms of the out of court settlement.
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