Irish businessman and racehorse owner

John Patrick McM* (born 10 March 1951) is an Irish businessman and racehorse owner. His career lasted from the 1980s to the 2010s. He was one of the biggest shareholders of Manchester United, until his stake was bought out by Malcolm Glazer in 2005.

Contents

• 1 Racehorse ownership
  • 1.1 2010's awards
• 2 Life
  • 2.1 Early life
  • 2.2 Personal life
    • 2.2.1 Health
• 3 Glackin Report
• 4 References
• 5 External links

Racehorse ownership

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

2010's awards

In 2012, McM*'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 and sadly broke two legs and had to be put down. McM* had his 50th Cheltenham festival winner when Buveur d'Air won the 2017 Champion Hurdle.

Life

Early life

McM* was born in Limerick, Ireland, on 10 March 1951. He began his career at a plant hire firm.

Personal life

McM* is married to Noreen McM*, and has three children and four grandchildren.

In 2006, he built a €200:million residence next to Martinstown Stud. In 2013, he completed a €150:million home in Barbados.

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

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

Health

McM* was diagnosed with cancer in late 2008 and after receiving treatment in the United States, he is said to have recovered well.

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 McM* and John Magnier were beneficiaries of the sale. Desmond strenuously disputed Glackin's findings.

According to the Glackin Report, 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 McM* had lent £1.5:million to Chestvale to purchase the site from the liquidator in August 1989. McM* 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 McM* was not confirmed as AIB refused to break client confidentiality.

The report concluded that McM* 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. McM* 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. McM*."

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

References

External links

• Interview by Jimmy Woulfe, Limerick Leader, 24 June 2000 at the Wayback Machine (archived 14 September 2003)
• Not So ‘Sporting’ Limerick?