Greg Norman, the PGA Hall of Famer, has inked a strategic partnership with Authentic Brands Group (ABG), a New York City-based brand development and licensing company that oversees the brands in fashion, sports, celebrity, and entertainment. Norman has marketed his future licensing rights and endorsement income to the global marketing company with an intention to push expanded revenue to the brand.

The partnership with ABG focused on managing the consumer products division of The Greg Norman Company. The role of partnership in managing the Norman's business such as Greg Norman Golf Course Design, Greg Norman Real Estate, Greg Norman Investments, Greg Norman's Australian Grille or Shark Wake Park will not be included.

The partners will oversee products, including apparel and accessories, steaks and wine.

Norman's detailed payment from ABG is undisclosed.

Norman becomes fourth athlete to join ABG team

The Greg Norman Company, a multi-national private corporation based in West Palm Beach, Florida, is listed the twenty-eight company to be managed by ABG. Additionally, Norman becomes one of the fourth former athletes to be associated with ABG. The company has purchased real-estate rights to iconic athletes, including Shaquille O'Neal, Muhammad Ali and Julius "Dr. J" Erving.

"Greg is a little different from some of the sports properties we've partnered with in the past," ABG's chairman and CEO Jamie Salter said.

"He crosses all three pillars that we look for: fashion, sport and entertainment."

ABG attempts to push Norman into a health and wellness endorsement with an effort to draw older consumers. Nick Woodhouse, the marketing officer at ABG, admitted that the 62-year-old golf legend can be seen in an aspirational lifestyle advertisement that represents health and wellness for "Baby Boomer" consumers effectively.

Re-brand identity change

Abandoning Norman's business is not the first time he has done in the past. Two years ago, The Greg Norman Production Company was one of the events businesses to be in a position for a sale to Wasserman, a culture-centric agency, which serves the best brands and properties in the world.

A year ago, the change of the brand identity was created as Norman launched the rebrand with colorful new developed shark logo.

He changed the name of the company to The Greg Norman Company from The Great White Shark Enterprises. Thanks to focus group feedback, the color of the brand was mofidied to monochromatic blue from rainbow color.

"Over the years, I have learned that no business can stand still," Norman said, according to Forbes. "We need to build a company not just today, but for the future. I am thrilled to say this announcement is just the beginning of many exciting new developments to come."

Norman collaborates with Cobra Golf as a brand ambassador

Norman had a prosperous collaboration with Cobra Golf, a Carlsbad, California-based manufacturer of golf equipment, as a global brand ambassador. In 1991, as Norman became entrepreneur, he acquired 12 percent of Cobra Golf worth $1.9 million. When the company was sold to Fortune Brands in 1997, Norman generated $40 million. The leading sports brand Puma based in Germany owns Cobra Golf.