J. P. McManus

J. P. McManus

John Patrick McManus (born 1 March 1951) is an Irish businessman and racehorse owner.

Born in Limerick, he began his business career at his family’s construction plant hire firm, and then became an on-course bookmaker at Limerick’s greyhound track, before moving into horse ownership and racing. He has a stud farm in County Kildare. In 1982, he and his wife bought Martinstown Stud on over 400 acres in County Limerick from the McCalmonts. McManus is National Hunt racing's largest owner. Famed for his huge, and usually successful bets, he is loved by racing fans. He rarely admits to placing bets and then usually describes them as "little." His distinctive green- and gold-hooped racing colours come from those of the South Liberties GAA Club. Among the most famous of his horses is Istabraq, a three-time winner of the Champion Hurdle.

A significant part of his wealth has also derived as a private trader in foreign exchange which he conducts from his office in Geneva, Switzerland where he lives as a tax exile. Currencies are his specialty and his bets are bank sized. Most importantly, his thoughts on risk are worth a read. He's featured in "High Rollers of the Turf", by Raymond Smith. Together with business associate John Magnier he built up a 28.89 per cent shareholding in Manchester United F.C., which has since been sold to businessman Malcolm Glazer.

He is also a keen golfer and a close friend of Tiger Woods who got married at his Sandy Lane (resort) Hotel in Barbados. He is a two time winner of the Alfred Dunhill Links Championship pairs competition. J. P. McManus's personal fortune is estimated at EUR 1 billion (GBP 700 million). In 1996 he established the J. P. McManus Scholarship Award in which he provides €4,500 each study year to selected students at his former secondary school C.B.S. Sexton Street in Limerick. Every five years, he organises the J. P. McManus Invitation Pro-Am golf tournament in Limerick to raise funds for Limerick charities. He has been awarded an honorary doctorate from the University of Limerick and has funded the new Kemmy Business School at the University. On February 22nd 2007, he was presented with the Honorary Patronage of the University Philosophical Society of University College, Cork, for his charity work.

From 1999 McManus enjoyed a very public battle with infamous Scottish bookmaker 'Fearless' Freddie Williams. On Thursday March 16, 2006, McManus won in excess of £1,000,000 GBP from Williams at the Cheltenham Festival, the pairs' favourite battleground.

External links

* [http://web.archive.org/web/20030914150056/http://www.limerick-leader.ie/issues/20000708/woulfe.html Interview by Jimmy Woulfe, Limerick Leader, 24 June 2000]
* [http://www.sandylane.com Sandy Lane Resort, Barbados]

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