The Glackin Report author a bigwig in Leinster Rubby
The Mexican Peso collapsed around 1993, the same time McManus became a Tax Exile in Switzerland.
Even if they made a fortune back then, youād wonder how McManus can essentially continue to spend unlimited money on Houses, Hotels, Horses, GAA and his various Foundation projects over a thirty year period.
Selling his stake in Manchester United and the odd betting coup here and there pays an absolute pittance compared to the Lifestyle he has lead since.
Ah it isnāt really. Sure theyāve massive property portfolios. Stud fees and various other businesses.
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Does JP have a stake in Coolmore?
His carbon offsetting must be through the roof jetting around from mansion to mansion in on his private jet cc @Little_Lord_Fauntleroy
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I find it very hard to believe he doesnāt own as much as magnier anyway.
You see when Aidan broke the group one record in 2017 Aidan is going around looking for jp to take a photo with him.
Anything Iāve heard is Aidan goes through jp to talk with the coolmore partners when he isnāt happy. Iām sure itās detailed when they took holy Roman emperor off Aidan it was jp who mediated.
When it came for Aidans son to be funded to go training it was jp backing him.
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Iām not sure how you can keep spending hundreds of millions on houses in Chelsea, Geneva, Martinstown, Sandy Lane and Ailsbury Road along with other vaniity projects like The Manor, the penthouse in The Dorchester, the Horses and the Limerick Hurlers without selling something outside of Manchester United along the way.
The Pub Chain and Nursing Homes are hardly sustaining that.
Even the figures in Coolmore dont really add up. Theres 4 of them in it and they cant all be living off Galileo indefinitely. At least you can say with the Arabās in the Racing World, they have the Oil money to bankroll them. You can explain their wealth basically.
Maybe JP and the lads have some form of investment in the Oil rigs.
They bought the sandy lane for peanuts for whatās worth now.
Thereās usually four or five of them stuck in these projects as well.
Sure them pubs and nursing homes are licenses to print money.
Probably a grand week to stay in one. Multiply that by a few 1000s rooms and it starts to add up.
Same with the pubs. They just print money.
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Jp and Magnier own massive amounts of land banks and property which they bought for a fraction of the value. One example is they own a huge landbank between Castleknock and Lucan that is getting zoned for residential. Their Luttrellstown castle golf course and estate is slap bang in the middle of this.
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Up until recently American phoaroah and justify were bringing in the bones of a 100 million a year. Galileo last advertised stud price was 800k. He regularly covered 200 plus mares.
There is significant income from pretty much everything they own.
They bought a big stud farm in Hampshire 8 or 9 years ago in England and they just left idle. 4000 acres or so.
How many non-Coolmore owned Mares was Galileo covering? Not many in later years i would say.
Obviously theres serious money coming in but i dont think it explains 4 lads and their families with completely unlimited money.
The nursing homes made Ā£20m pre tax profits in 2019. Hardly earth shattering between all of them.
McManus spent Ā£150m on his house (separate to the hotel) in Sandy Lane a few years ago. The daughters wedding was another Ā£100m way back when. Magnier, Smith, Tabor all do the same.
Thereās a huge gap there thats unexplained.
Not a hope is there a gap.
They bought the sandy lane in the mid 90s. Closed it down for three years and invested over half a billion US dollars in it.
The manor is a tin pot operation he bought for 30 million and itās worth multiples of that now. Same with house in martinstown.
As example Clint Eastwood paid 800 million in the 90s for pebble beach and itās worth 3.5 billion now. How many golf clubs do they own world wide?
The money around here is nothing compared to the figures they play with in America and various other counties.
Go on, itās obvious you want to come out with the explanation of the huge gap, let it out.
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Like heās buying p2pers for half a million quid.
The manor cost him 60 jonbons and Jonbon isnāt a very good horse.
A busy pub in London or America would turnover 200k a week.
They money would just be piling up.
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Someone here said the other day he owns the dunraven as well is that true?
I think there is a possibility that some of the wealth is coming from some dodgy currency/stock market deals involving his pal Lewis who has now been indicted by the Americans and will be in Court later tonight.
Yes he owns most of it now.
Murphy flys around the sale for him a good bit.
As far as Iām aware you need another hotel for the manor in case of an emergency. More golf courses too apparently.
Gareth Bale was staying in the Dunraven this week. A good friend of mine met him on a flight from Liverpool to Shannon the other day.
Bale flying Ryanair is quiet endearing.
Iād prefer to stay in the woodlands. I donāt see the attraction of dunraven at all
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