J. P. McManus

Last updated

J. P. McManus
Born (1951-03-10) 10 March 1951 (age 73)
Limerick, Ireland
OccupationBusinessman
SpouseNoreen McManus
Children3 [1]

John Patrick McManus (born 10 March 1951) is an Irish businessman and racehorse owner. His career spanned from the 1980s to the 2010s. He was a major shareholder of Manchester United, until his stake was bought out by Malcolm Glazer in 2005. [2]

Contents

Early life

McManus was born in Limerick, Ireland, on 10 March 1951. He began his career at a plant hire firm. [3]

Racehorse ownership

J.P. McManus in 2010 (second from right) with Tony McCoy, Nicky Henderson and the racehorse, Aigle D'or at Newbury Racecourse Tony McCoy, JP McManus & Nicky Henderson.jpg
J.P. McManus in 2010 (second from right) with Tony McCoy, Nicky Henderson and the racehorse, Aigle D'or at Newbury Racecourse

His first horse was Cill Dara, named after the county in Ireland. [3] McManus's first Cheltenham Festival winner was a horse called Mister Donovan in 1982. [4] Former champion jockey Jonjo O'Neill trains some of his horses at the Jackdaws Castle facility, which McManus owns. McManus's horse Don't Push It, ridden by McCoy and trained by O'Neill, won the 2010 Grand National Steeplechase. [5] In 2021 McManus won the Grand National for a second time with his horse Minella Times, ridden by Rachael Blackmore and trained by Henry De Bromhead. In 2024 McManus won the Grand National for a third time with his horse i am maximus, ridden by Paul Townend and trained by Willie Mullins.

2010s awards

In 2012, McManus's horse Synchronised won the Cheltenham Gold Cup. Synchronised went on to run in the 2012 John Smiths Grand National with champion jockey Tony McCoy on 14 April 2012. Synchronised threw McCoy on the way to the starting area; after being caught and veterinary checks were performed, Synchronised was re-entered. However, he fell at Becher's Brook, broke two legs, and was put down. [6] McManus had his 50th Cheltenham festival winner when Buveur d'Air won the 2017 Champion Hurdle. [7]

Personal life

McManus is married to Noreen McManus, [8] and has three children and four grandchildren. [9]

In 2006, he built a €20 million residence next to Martinstown Stud. [10] In 2013, he completed a €150 million home in Barbados. [11]

Philanthropy and tax exile status

McManus has been known for donating multiple times. In July 2012, McManus donated over €1 million to the Daughters of Charity foundation. [12] In 2020, he donated equipment to the University Hospital, Dooradoyle, during the 2019–22 Coronavirus pandemic. [13]

In 2012, McManus won $17.4 million gambling in the United States, of which $5.2 million was retained as income tax by the Internal Revenue Service (IRS). [14] In 2016, The Irish Times reported that he was seeking a refund of the tax on the basis of the United States' double taxation treaty with Ireland; the IRS stated that McManus was a self-confessed tax exile out of Ireland and therefore – despite McManus's sworn affidavits to the contrary – not a legal resident of Ireland in 2012. [14]

McManus has been a tax exile in Switzerland since the 1990s and has often faced criticism of this status. [15] In 2011 he spoke out against such criticism, claiming that he was merely an emigrant who set up a business abroad. [16]

In July 2022, the sixth JP McManus Pro-Am golf tournament was held at Adare Manor, the first since 2010. [17] [18]

In December 2023, McManus announced that he would donate €1 million to Gaelic games in every county in Ireland with the donation expected to arrive in January 2024. [19] This followed a previous donation of €100,000 to each county following Limerick's All-Ireland success in 2018, which led journalist Mick Clifford to compare him, unfavourably, to an absentee landlord. [20] The 2023 donation was criticised by former Gaelic football player and commentator, Joe Brolly, who characterised it as an "act of self defense" to deflect from criticism of McManus' tax exile status. [21] The donation was also criticised by Newstalk journalist, Shane Coleman, and political party, People Before Profit. [22] [23]

In 2023, McManus won the rights to host the 2027 Ryder Cup at Adare Manor. He subsequently wrote to Limerick City and County Council objecting to proposals to impose property tax on a plot with residential zoning in the estate arguing that the land in question is earmarked for a Ryder Cup bus terminal and should therefore not be taxed. [24]

Health

McManus was diagnosed with cancer in late 2008 and after receiving treatment in the United States, he was said to have recovered well. [25]

Glackin Report

In 1991, an Irish company law inspector, solicitor John Glackin, was appointed by the Irish Government to investigate complicated dealings involving Dermot Desmond and the purchase and sale of the former Johnston Mooney and O'Brien site in Ballsbridge, Dublin, to Telecom Éireann. While Desmond represented himself as an intermediary in the sale, Glackin's report said Desmond, businessman JP McManus and John Magnier were beneficiaries of the sale. Desmond strenuously disputed Glackin's findings. [26]

According to the Glackin Report, [27] Hoddle Investments (the vehicle through which the deal was handled) executed two contracts with Telecom Éireann for the sale of the Johnston Mooney & O'Brien site for an aggregate price of £9.4 million, on 7 May 1990. Glackin concluded that McManus had lent £1.5 million to Chestvale to purchase the site from the liquidator in August 1989. McManus made the investment through an AIB account in Jersey in the name of J&N McMahon. Whether this account was to the benefit of John and Noreen McManus was not confirmed as AIB refused to break client confidentiality. [28]

The report concluded that McManus was a beneficiary of the sale of the site to Telecom Éireann, and received £500,000 in cash from the transaction, which Dermot Desmond had stored in a tennis holdall in his safe. At paragraph 5.4.4 of the report, Glackin concludes that:

"I am satisfied, on a basis that I believe is reasonable, that Mr. McManus was promised by Mr. Desmond as his consideration for the advance a share of the profits and that this was either agreed in advance or during the period between 29th June 1990 when the money was received from Telecom, and 19th July 1990 when the request was made to Ansbacher for the first cash withdrawal of £100,000. I can find no evidence that any other person received any of the cash of £500,000 and find accordingly that it was received by Mr. McManus."

No criminal charges were made against McManus or the other principals involved resulting from the findings of the Glackin Report.

Related Research Articles

Dermot Desmond is an Irish businessman and financier. He is estimated to be worth €2.04 billion and is ranked by the Sunday Independent as the ninth-richest person in Ireland.

<span class="mw-page-title-main">Adare</span> Village in County Limerick, Ireland

Adare is a village in County Limerick, Ireland, located southwest of the city of Limerick. Adare is designated as a heritage town by the Irish government. The village is in a townland and civil parish of the same name.

<span class="mw-page-title-main">Tony McCoy</span> Northern Irish jockey

Sir Anthony Peter McCoy, commonly known as AP McCoy or Tony McCoy, is a Northern Irish former National Hunt horse racing jockey. Based in Ireland and Britain, McCoy rode a record 4,358 winners, and was Champion Jockey a record 20 consecutive times, every year that he was a professional.

Michael Barry Tabor is a racehorse owner. As a partner in Coolmore Stud, he is one of only four racehorse owners to have won both the Epsom Derby and the Kentucky Derby.

CBS Sexton Street is a Christian Brothers secondary school located in Limerick, Ireland. The school has approximately 500 students. The current principal is Denis O'Connor, and the current vice principal is Rob Williams.

Istabraq was an Irish Thoroughbred racehorse who was most famous for his hurdling. He won the Champion Hurdle on three consecutive occasions. He was trained by Aidan O'Brien and owned by John Patrick McManus. Jockey Charlie Swan rode him in all of his 29 races over jumps. Istabraq is regarded as one the greatest ever over hurdles.

John Joseph "Jonjo" O'Neill is an Irish National Hunt racehorse trainer and former jockey. He is a native of Castletownroche, County Cork in Ireland. Based at the Jackdaws Castle training establishment in England. O'Neill twice won the British Champion Jockey title and won the Cheltenham Gold Cup on the mare, Dawn Run who became the only horse to complete the double of winning the Champion Hurdle and the Gold Cup at the Cheltenham Festival. He won 900 races as a jockey.

<span class="mw-page-title-main">Adare Manor</span> Manor house and hotel in County Limerick, Ireland

Adare Manor is a manor house located on the banks of the River Maigue in the village of Adare, County Limerick, Ireland, the former seat of the Earl of Dunraven and Mount-Earl. The present house was built in the early 19th century, though retaining some of the walls of the 17th-century structure. It is now the Adare Manor Hotel & Golf Resort, a luxury hotel, and contains the Michelin-starred Oak Room restaurant.

Adare GAA club is a GAA club based in Adare, County Limerick, Republic of Ireland.

Wichita Lineman was a National Hunt racehorse, foaled on 18 April 2001.

<span class="mw-page-title-main">Davy Russell</span> Irish National Hunt jockey

Davy Russell is an Irish retired National Hunt jockey. He was Irish jump racing Champion Jockey three times, and won the Grand National (twice), the Cheltenham Gold Cup and the Grand Steeple-Chase de Paris.

<span class="mw-page-title-main">Binocular (horse)</span> French-bred Thoroughbred racehorse

Binocular, foaled on 17 March 2004 in France, is a French thoroughbred retired racehorse. He was sired by Enrique out of the mare Bleu Ciel Et Blanc. He is owned by J. P. McManus and trained by Nicky Henderson. His primary jockey is Tony McCoy.

<span class="mw-page-title-main">Long Run (horse)</span> French-bred Thoroughbred racehorse

Long Run is a retired National Hunt racehorse owned by Robert Waley-Cohen and trained during his racing career by Nicky Henderson in Great Britain and later by his owner.

<span class="mw-page-title-main">Synchronised (horse)</span> Irish-bred Thoroughbred racehorse

Synchronised was an Irish-bred, British-trained Thoroughbred racehorse. A specialist long-distance steeplechaser, he was best known for his performances in the 2011–2012 National Hunt season, when he won the Grade I Lexus Chase in Ireland before winning Britain's most prestigious steeplechase, the Cheltenham Gold Cup, on 17 March. He was euthanized after incurring a leg fracture in the Grand National on 14 April 2012.

The 2012 Cheltenham Gold Cup was the 84th annual running of the Cheltenham Gold Cup horse race held at Cheltenham Racecourse on 16 March 2012.

Edward O'Grady is an champion Irish National Hunt racehorse trainer. Throughout the 1980s and 1990s, O'Grady was the leading Irish trainer at Cheltenham by number of winners. He was played by Pierce Brosnan in the 1980 film Murphy's Stroke.

<span class="mw-page-title-main">More of That</span> Irish-bred Thoroughbred racehorse

More Of That is an Irish-bred, British-trained Thoroughbred racehorse who competes in National Hunt racing. After winning his only race as a novice he won two handicaps and the Grade II Relkeel Hurdle before taking the Grade I World Hurdle at the 2014 Cheltenham Festival.

James John Codd is an Irish jockey. Having won 972 races before retiring from point to points, he has the second highest number of wins in point to point races of any jockey.

<span class="mw-page-title-main">Garde Champetre</span> French-bred Thoroughbred racehorse

Garde Champetre was a French-bred, Irish-trained thoroughbred racehorse.

The J. P. McManus Pro-Am is a Pro-Am golf tournament created and hosted by J. P. McManus. It is currently played at Adare Manor in County Limerick, also host to the 2027 Ryder Cup. It has been staged six times spanning between 1990 and 2022. The tournament is designed to raise money for local charities.

References

  1. ↑ "Irish Examiner - 2001/05/05: Limerick confers top honour on a favourite son, JP McManus". Archived from the original on 8 January 2008. Retrieved 27 April 2009.
  2. ↑ Cowell, Alan (28 February 2004). "INTERNATIONAL BUSINESS; A Horse, a Soccer Club and the Tampa Bay Bucs". The New York Times. ISSN   0362-4331 . Retrieved 3 May 2020.
  3. 1 2 "The Life of Owner JP McManus". thewinnersenclosure.com. Retrieved 3 May 2020.
  4. ↑ Scott, Brough (8 March 2014). "The stuff of Legend". Independent.ie. Retrieved 19 March 2018.
  5. ↑ Armytage, Marcus (10 April 2010). "Grand National 2010: Don't Push It is lucky 15 for Tony McCoy at Aintree". The Telegraph. Telegraph Media Group. Retrieved 19 April 2016.
  6. ↑ Wood, Greg (14 April 2012). "Death of Cheltenham Gold Cup winner Synchronised at The Grand National 2012". The Guardian. London: Guardian News and Media. Retrieved 15 April 2012.
  7. ↑ O'Grady, Sean (15 March 2017). "JP all smiles as he notches 50th festival winner - Independent.ie". Independent.ie. Retrieved 19 March 2018.
  8. ↑ "McManus compound to expand as size continues to matter on Ailesbury Road". Irish Times. 8 September 2016. Retrieved 4 May 2020.
  9. ↑ "Who is JP McManus?". bunkered.co.uk. 26 July 2019. Retrieved 3 May 2020.
  10. ↑ "Construction starts on JP McManus mansion, mother of all stately homes".
  11. ↑ Phelan, Eugene (10 October 2013). "JP McManus' €150m Barbados mansion almost complete". Limerick Leader. Johnston Publishing. Retrieved 3 January 2014.
  12. ↑ "Profile: JP donates over €1m to Daughters of Charity in Limerick". Limerick Leader. Retrieved 26 February 2013.
  13. ↑ "JP McManus donates equipment to stop spread of virus in hospital". limerickleader.ie. Retrieved 3 May 2020.
  14. 1 2 Keena, Colm (22 February 2016). "US insists JP McManus not Irish resident when over $17m won". The Irish Times . Retrieved 23 February 2016.
  15. ↑ https://www.businesspost.ie/analysis-opinion/the-last-post-jp-mcmanuss-relationship-with-limerick-is-not-a-taxing-affair/
  16. ↑ https://www.joe.ie/uncategorized/jp-blasts-tax-exile-critics-29562
  17. ↑ "Lowry's late charge at JP McManus Pro-Am title falls short as Harrington ties course record". The 42. 5 July 2022. Retrieved 6 July 2022.
  18. ↑ "JPMcManus 2022 Players". jpmcmanusproam.com. 5 July 2022. Retrieved 6 July 2022.
  19. ↑ "JP McManus to donate €1m to Gaelic games in each county". RTE Sport. 14 December 2023. Retrieved 15 December 2023.
  20. ↑ https://www.irishexaminer.com/opinion/arid-20473304.html
  21. ↑ https://www.belfastlive.co.uk/sport/gaa/joe-brolly-hits-out-tax-28460716
  22. ↑ https://www.newstalk.com/news/shane-coleman-on-jp-mcmanus-id-prefer-if-people-were-tax-resident-here-1624404
  23. ↑ https://www.pbp.ie/jp-mcmanus-just-pay-your-tax/
  24. ↑ https://www.irishtimes.com/ireland/housing-planning/2023/03/07/adare-manor-owner-jp-mcmanus-in-the-rough-over-tax-on-ryder-cup-lands/
  25. ↑ Michael Lavery (24 April 2009). "JP McManus fights cancer in US clinic". Herald.ie. Retrieved 11 April 2017.
  26. ↑ Keena, Colm (23 March 2011). "Financier is no stranger to business and political rows". The Irish Times.
  27. ↑ Gavin Sheridan (17 January 2012). "The Glackin Report – complete". Thestory.ie. Retrieved 11 April 2017.
  28. ↑ "J. P. McManus Irish racehorse owner". The Irish Times.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.