Latest news with #JP_McManus
BreakingNews.ie
26-06-2025
- Business
- BreakingNews.ie
Billionaire JP McManus fights back tears in meeting over International Rugby Experience snub
Billionaire horse racing mogul JP McManus fought back tears at a highly charged meeting with Limerick City and County Council, Thursday, after it snubbed his offer of the debt-free €30 million International Rugby Experience (IRE) and a €1.2 million donation. Mr McManus sought the private meeting with council executives and elected representatives to ask why the local authority turned down his offer. Advertisement Reliable sources said an apology was offered to Mr McManus and his family at the closed meeting, but that the gift was no longer on the table 'as things stand' however it could yet be salvaged, they said. Mr McManus has disputed the manner in which the gift was presented to councillors and told executives of his 'hurt' over the controversy. In 2001, the council presented Mr McManus with the prestigious title of Honorary Freeman of Limerick. In 2011, the council included Mr McManus's name in a medallion added to the mayoral chain, after he won the 2010 Aintree Grand National with his horse Don't Push It. Advertisement In 2016, councillors held a Civic Reception for him for his 'outstanding contribution' to local communities. However, sources said the once close relationship has now soured over the IRE controversy. 'JP made a presentation to the chamber today and he got emotional as he spoke of his love of Limerick and he spoke about the fact that he was made a Freeman of the City by the council, and that it had been the proudest moment of his life,' said a source. 'It was highly emotional, he stopped talking and got choked up. A few councillors at the meeting were also wiping away tears.' Advertisement Mr McManus told the closed meeting he was 'mystified' and 'disheartened' at the Council's declining of his debt-free gift. 'He was offering the people of Limerick city and county this gift - the IRE and €1.2 million funding - through the council, and he found it mystifying and disheartening and how it was turned down.' 'He said he was very disappointed that the heads of terms of agreement were not honoured. He saw it as a gentleman's agreement.' 'So the offer is no longer on the table as things stand, but I would hope there can be a positive outcome,' another source said. Advertisement Sources claimed that councillors expressed 'embarrassment' at the controversy however a number of councillors who attended the meeting declined to comment to waiting reporters who were not allowed inside. Limerick City and County Council also declined to comment citing the meeting was held behind closed doors. Afterwards, Mr McManus would not be drawn on the outcome of the meeting, he simply waved at journalists after he was asked 'did you get a deal?' The €30 million sports attraction closed last December after just 12 months in operation with the loss of 50 jobs. Advertisement Earlier this week councillors apologised to Mr McManus for the debacle. Outgoing District Cathaoirleach Fianna Fáil Cllr Kieran O'Hanlon said prior to the meeting: 'I'm extremely disappointed and annoyed at the way the whole thing was handled. "We have one of the biggest gifts coming to us from the greatest people Limerick ever had - JP McManus. Not only did we refuse it, but we insulted the McManus family in the process.' 'I would like to apologise to JP McManus on behalf of the councillors for the way it was handled,' Cllr O'Hanlon also told the Limerick Post newspaper. Speaking on his way into today's meeting former Limerick mayor, Cllr Michael Collins, said councillors were 'not happy with the way things have happened with the IRE, and today is about JP setting the record straight'. 'It has been very disappointing for the McManus family because they have been very good to Limerick down through the years,' Cllr Collins said. Ahead of Thursday's meeting, Limerick's first-ever directly elected mayor John Moran, who could not attend as he was abroad, said he had recently held meetings with Mr McManus and he said he hoped there would be 'further open and constructive find a sustainable solution to secure the future' of the IRE building. The IRE said it delivered an estimated €7.8 million boost to the local economy in its first year. World Champion Irish jockey (29) charged with drink driv... Read More Last year, the Council said it was 'disappointed' with the IRE's decision to close its doors, and that it had made 'every effort' to secure the deal. The Council said it would have had to find 'substantial operational and capital funding' to continue running the Experience. Prior to today's meeting, a counter offer from Mayor Moran to utilise €300,000 of his Mayoral Fund to help keep the facility open for the next three years was rejected by the IRE. IRE chief executive Barry Hannon previously claimed that costings presented to councillors were 'over-inflated and were not included in the heads of agreement' which he said both parties had agreed in principal in August 2023.
The Sun
24-06-2025
- Sport
- The Sun
Troubled Cheltenham Festival-winning trainer banned for three months with immediate effect for ‘non-sporting offences'
A TROUBLED Cheltenham Festival-winning trainer has been banned for three months with immediate effect for 'non-sporting offences'. David Cottin has been denied the right to appeal the verdict handed down by France Galop, according to Paris Turf. 1 Cottin, who was previously banned for 12 months (six suspended on condition of good behaviour) after horses in his yard failed drugs tests, cannot have another runner until late September. The French handler saddled the JP McManus-owned Easysland to Cross Country Chase success at the 2020 Festival. He was previously 'one of the most charismatic jockeys' before becoming a trainer and is son of famed French handler Philippe Cottin. The release confirming Cottin's ban did not state explicitly how he had breached the terms of his licence. French racing journalist Adrien Cugnasse told the Nick Luck Daily podcast earlier this year more on the 'sad story'. The reporter claimed Cottin was trying to buy Champagne at the bar at Auteuil but 'went crazy' when his card didn't work. He was then allegedly given a two-month ban from the racecourse after an argument with a bar worker. Cugnasse then went onto divulge unconfirmed reports of a 'street fight' involving Cottin. More to follow. Commercial content notice: Taking one of the offers featured in this article may result in a payment to The Sun. You should be aware brands pay fees to appear in the highest placements on the page. 18+. T&Cs apply. Remember to gamble responsibly A responsible gambler is someone who:
Irish Times
28-05-2025
- Business
- Irish Times
Dates for the 2027 Ryder Cup in Adare Manor confirmed
The 2027 Ryder Cup will take place from September 17th to 19th at Adare Manor , it has been announced. Build-up to the tournament will begin on Monday, September 13th, in an event that is hoped to make hundreds of millions for the Irish economy. With a mid-September date selected, the 2027 Ryder Cup is a week earlier in the calendar than the upcoming 2025 Ryder Cup and two weeks earlier than the last Ryder Cup in Italy, perhaps with the idea of having a greater chance of favourable weather in Limerick. The 2010 Ryder Cup in Celtic Manor began on October 1st and struggled with torrential rain and cool conditions. Details of how to apply for tickets to the 2027 Ryder Cup at Adare Manor will be announced in 2026, but you can register your interest already on the Ryder Cup website. It will be the 100th anniversary of the event, which first was played between the best golfers in the United States and Britain and Ireland, but since 1979 includes the best players in Europe. READ MORE 'Rory McIlroy's victory in the Masters last month to complete the career Grand Slam, combined with anticipation of July's Open Championship, has already heightened the buzz around golf on the island of Ireland,' Guy Kinnings, chief executive of the European Tour Group, said. 'Hosting a Ryder Cup is a huge collective effort and our thanks therefore go to the Government of Ireland, to JP McManus and the team at Adare Manor and to Limerick City and County Council for their continued support over the next two-and-a-half years.' The JP McManus-owned course was extensively renovated in 2017, designed by Tom Fazio, and has been a previous host of the Irish Open. Since 2005, it has been more notably the host of the JP McManus Pro-Am, which in 2022 saw the likes of Tiger Woods, Rory McIlroy and Scottie Scheffler compete for charitable causes. 'The passion of Irish people for golf makes Ireland really stand out internationally as a golfing venue,' Minister for Sport Patrick O'Donovan said. 'For Ryder Cup week, the eyes of the sporting world will be on the beautiful village of Adare, and I am confident that the local community of Adare and the people of Limerick and Ireland generally, will ensure that this event is a wonderful success and that all who attend will want to return to visit Ireland again.' The Ryder Cup was last held in Ireland in 2006 at the K Club in Straffan, and was estimated to be worth €143 million to the economy. Europe beat the US comfortably by a 18.5 to 9.5 margin.
The Guardian
12-05-2025
- Business
- The Guardian
The Glazers in numbers: key figures across two decades at Manchester United
Initial percentage of Manchester United bought by Malcolm Glazer in May 2003 – by the end of the year it stood at 15%. Percentage Glazer increased his holding to in June 2004 after claiming in March of that year that he had 'no current intention' of bidding. Sum Glazer agreed to pay JP McManus and John Magnier on 12 May 2005 for their 28.7% holding in United, buying their shares for £3 each. Four days later, Glazer had acquired a total share in the club of 75%, which allowed him to delist United from the London Stock Exchange. This occurred on 22 June and soon Glazer owned 98% of the club via his Red Football parent company. Debt loaded on to United as a direct result of Glazer's purchase of the club. Interest repayments on that debt stood at £62m per annum. Number of Glazer children – Joel and Avram – who took over the day-to-day running of United when Malcolm suffered a stroke in April 2006. The then world-record fee Cristiano Ronaldo was sold to Real Madrid for in June 2009. Amount raised in the two weeks after the commencement of a bond issue in January 2010 that allowed Glazer to payoff most of the £509m he owed to international banks. United's total debt nine days after the commencement of the bond issue. Number of Manchester United Supporters' Trust membership aimed for by the Red Knights – a consortium made up of City bankers and lawyers – in order to complete a purchase of United. This occurred in early March 2010, rising soon after to 125,000. There are currently more than 200,000 members. Amount financial analysts estimated would need to be raised by the Red Knights, or any other entity, in order to purchase United given Glazer's own valuation of the club – £1.6bn ($2.14bn). United's valuation according to the New York Stock Exchange after club shares start trading on the NYSE in August 2012. The Glazer family make £75m from the process. Malcolm Glazer's age when he died in May 2014, leaving his six children as co-owners of the club. It emerged a year later that they would be paid more than £15m a year by the club. Number of teams in April 2021's proposed European Super League of which Joel Glazer was a prime force. The idea was swiftly killed after an intense supporter backlash. Estimated value of United when the Glazer siblings announced a potential sale of the club in November 2022. Sir Jim Ratcliffe's minority holding as of last December after the Glazers sold part of their holding to the British billionaire. United's current debt, incorporating Glazer's initial £790m leveraged buyout, plus an additional £300m in outstanding transfer fees, with a £300m loss recorded in the past three years. Approximate amount, in Euros, United have spent on signings since Glazer's purchase, according to Approximate amount, in Euros, United have received in sales since Glazer's purchase, according to Premier League titles won by Sir Alex Ferguson, the last of which was secured in May 2013, just before his retirement from management. Premier League titles won by United's various managers in the proceeding 12 years. United's current position in the Premier League. They were third when Glazer took over 20 years ago.
