The American legend, whose record 18 major wins include a record six Masters titles, joined Tom Watson (73) and Gary Player (87) for ceremonial tee shots at Augusta National to begin the year's first major golf tournament.
Nicklaus backs the PGA Tour in its ongoing fight with Saudi-backed LIV Golf, having said last year he rejected $100 million overtures for a LIV leadership role because his allegiance was to the PGA Tour he helped create 55 years ago.
"The tour has taken our collective rights and done a very good job with it to where the players today, you can see how much money the guys make when they play tournament golf now," Nicklaus said.
"I think the tour has done a really, really good job with that."
But several top PGA stars disagreed and departed last year for record $25 million purses in 54-hole events at LIV Golf despite Saudi human rights concerns, the PGA banning them from its events. A court fight is set for early 2024 on the matter.
Nicklaus was among those in 1968 who led a revolt for higher pro purses from growing television revenues while PGA leaders wanted funds for grass-roots growth of the sport.
Players formed a breakaway group but a compromise was reached and they played under the PGA umbrella, creating what became the PGA Tour.
"When you signed your entry form, you signed away all your rights for everything. And the players didn't feel that was fair," Nicklaus said. "They didn't have the ability to legally do anything on their own.
"It's hard to remember a whole lot about it, but it was more about freedom to use your own rights."
Phil Mickelson (52), who championed LIV's cause, had talked up such issues before LIV's start last June, but Nicklaus dismissed the idea of similar roots.
"The complaint they've had today, they said it's a very similar situation. Well, I don't think it was a similar situation," Nicklaus said.
"The tour has allowed you to do the things you need to do individually... it's similar in some ways but not really, realistically, what was going on."
Champs back ball limits
All three legends supported a new R&A and US Golf Association proposal for a local rule starting in 2026 to create limited-distance balls used only by professionals. They have called for such a ball for years.
"They've got to cut the ball back," said South African Player, a nine-time major winner. "Otherwise, the technology and the whole objective of golf is going to be imbalanced."
Player, a three-time Masters winner, wants more reduction than proposed, saying great technology advancements are coming.
"I get pretty concerned about how much they are going to cut the ball back... 20 yards is not enough," he said. "For the players, you have to cut it back 40 yards."
"We're going to run out of land," Nicklaus said. "What the USGA and the R&A have done is a good start."
Watson, an American whose eight major triumphs include two Masters and five British Opens, has changed his mind to favour the pro-only ball.
"If you just went with one ball, what would happen in 2026 to the hundreds of millions of golf balls produced?" Watson wondered. "That's a billion dollars of losses."