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JP McManus' enormous net worth, life with wife Noreen and Man Utd sale
@Source: irishmirror.ie
JP McManus will almost certainly add to his burgeoning list of Cheltenham Festival winners this week.
The legendary racehorse owner has 78 Cheltenham winners to his name heading into British racing's National Hunt showpiece. The Limerick-born billionaire, who turns 74 the day before the Festival, has over 60 entries, including the market leader in almost half the 28 races at the time of writing.
His shortest-priced contender looks set to come in the second race of the Festival when Majborough lines up in the Arkle Novices' Chase on Tuesday. McManus, known for his shrewdness, paid £570,000 to buy Jonbon in 2020, a move that has paid off handsomely as the gelding is now the favourite to win the Queen Mother Champion Chase.
Ahead of the Festival, we delve into McManus' net worth, his falling out with Sir Alex Ferguson and his other sporting loves...
What is JP McManus' net worth?
McManus is one of Ireland's wealthiest individuals, with an estimated net worth of more than €2billion. He started his career as a bookmaker in greyhound racing and is believed to have amassed much of his wealth as a private foreign exchange trader.
Alongside business partners John Magnier and Dermot Desmond, he has owned and invested in various sectors, including healthcare, the pub industry and hotel resorts. He has also invested in bookmakers Ladbrokes.
JP McManus' life away from racing
McManus, who now resides in Switzerland, is married to Noreen. The couple have three children together and four grandchildren. McManus, an intensively private man, was diagnosed with prostate cancer in the late 2000s before recovering.
Speaking about the health scare in 2014, he said via the Irish Independent: "A lot of good came out of the cancer. You see things in a different light. I got more out of it than I lost and there was never a day I thought I wouldn't make it."
Why did JP McManus fallout with Sir Alex Ferguson?
While it might be a stretch to say that Manchester United's struggles are due to a dispute over a racehorse, it certainly played a role. Ferguson is known for his love of the sport and has owned many horses over the years.
However, one horse in particular led to a bitter fallout between him and two United shareholders, McManus and Magnier. The three jointly owned champion thoroughbred Rock of Gibraltar, but their relationship soured over a disagreement about stud rights.
Ferguson even took legal action before the issue was eventually settled out of court. Meanwhile, McManus and Magnier were increasing their stake in United - at a time when the club was the dominant force in English football - to 29%.
Their influence was so significant that there were doubts about whether the dispute would lead to Sir Alex leaving the club.
When did JP McManus sell his stake in Manchester United?
Instead, McManus and Magnier sold their stake to Malcolm Glazer in 2005. He burdened the club with massive debts, leading to widespread protests from fans and even the formation of a protest club, FC United of Manchester.
His sons, Joel and Avram, took over the day-to-day running of the club the following year after their father suffered a stroke. United remained a force in English football for a few more years, but Ferguson's retirement in 2013 set off a downturn the club is still trying to halt.
Meanwhile, the previously frosty ties between McManus and Ferguson have since warmed considerably. Reflecting on their relationship during an interview for the Irish Racing Yearbook in 2022, McManus said: "If I meet him at the races, we'd say hello. Life's too short."
What other sports is JP McManus involved in?
He owns the renowned Adare Manor with its spectacular golf course, which is set to play host to the 2027 Ryder Cup. The prestigious JP McManus Pro-Am, which is held there, has attracted star names like Tiger Woods and Rory McIlroy. McManus is also a big supporter of the GAA, having recently made an incredible gesture by donating €1m to each GAA county board.
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