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Horse Racing Owner Profiles

HE US Court of Federal Claims in Washington is not expected to issue a judgement on JP McManus's tussle with the US government over a tax bill of $5.2 million (€4.8m) until next summer.

McManus won $17.4m (€15.9m) while gambling against fellow billionaire Alec Gores, a technology investor in the US, back in 2012 but was forced to hand over $5.2m in tax from the winnings. However, lawyers for the leading owner argued he had had already paid a €200,000 domicile levy in Ireland, a flat tax on Irish-domiciled individuals whose worldwide income exceeds €1m and who own Irish property with a value greater than €5m.

The lawyers claim that because he paid this levy, McManus's gambling winnings were exempt from tax in the US under a treaty for the avoidance of double taxation.

McManus filed an amended complaint with the US Court of Federal Claims in Washington on December 29.

"From the Plaintiff's winnings, $5.2m was erroneously withheld by the payor to cover any potential United States federal income tax liability," the new claim submitted on McManus's behalf by a Texas law firm read.

McManus originally sought to have the money returned to him by the US Internal Revenue Service (IRS) in 2012 and his lawyers claim the refund was approved in August 2014. However, the following month, the request was remitted to another IRS department for an additional review.

The matter is unlikely to go to a full hearing, according to the legal papers, as both sides are in agreement that the issues in dispute are primarily legal interpretations of tax laws and that the court can issue a summary judgment based on submissions made to it. However, that judgement is not expected before next summer.
 
^ and not a word from JP on twitter ;)
 
JP vs Ricci ( writer on Yanworth for the Supreme ;))



By Jamie Lynch -- published 28th January 2016

With the Cheltenham Festival now only seven weeks away, Jamie Lynch discusses the lack of obvious firepower representing major owner J. P. McManus…

New Timeform customers get £10 FREE downloads! Click HERE and enter code LYNCHYTF when you register.

Less was More, more or less, at the latest forfeit stage for the Gold Cup, on January 13th, when there was one less significant name amongst the acceptors: More of That. The rethink over him, prompted by an 18-certificate Gold Cup, where the monsters are real and rife, means that, in the four Championship races at Cheltenham, J. P. McManus is out in the cold, the Siberian cold, with not a single horse at under 25/1.

For a man with his resource and renown, it's an odd state of affairs, made more strange by the fact the green, white and gold flag, of which his colours consist, is draped all over the main events this year, with the exception of the World Hurdle, won by More of That in 2014 and a back-up plan for him again this time around.

In a rare reversal, McManus lost out to Gigginstown in the owners' championship in Ireland last season, and, on the bigger domestic days, the softly-spoken Irishman is quieter still in this era of the bold and brash American, Rich Ricci. McManus and Ricci, like the latter's suits, are cut from a very different cloth.

Quality over quantity, and vice versa, all for one, and vice versa, touching new lands, and vice versa, the contrasts between McManus and Ricci are irresistible, on different paths but with the same destination, the same destination for everybody in National Hunt racing: Cheltenham. To compare and contrast, let's look at their respective strings going into the last three Festivals:

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These were pre-race ratings, it's worth stressing, and the difference in quality - expressed in the median figures - was all the more marked out of the other side of the four days, but even beforehand Ricci outscored McManus for string strength in each of the last few Festivals, from far fewer representatives.

The down-dragging handicaps are, of course, a much bigger part of the playbook for McManus, but his number of high-rollers is likely to be a lonely one in Cheltenham 2016, less of that with More of That only, which is a discernable downward trend from the chart, high-class problems of a very different kind to the placement poser faced by Ricci, for whom you can work out yourself the crazy number he'll have in that box this year.

There are obvious differences in approach, in policy and in objective between the two, but the most fundamental variance is the basket in which Ricci has virtually all of his eggs and McManus has very few, surprisingly few.

image_22.jpg


Despite gathering speed in the fast lane for several seasons now, the Willie Mullins bandwagon has, peculiarly, never been jumped aboard by McManus. Ireland's biggest owner has so far resisted an undocked union with Ireland's biggest trainer.

From the outside, their relationship seems to be - for want of a better analogy - that of friends with benefits, happy to hook up only casually and occasionally, stopping short of a full-blown relationship. The arrangement is working out better for one than the other, so the stats say.

This season, like the last one, McManus has had just four individual runners with Mullins, and ordinary ones at that, bar the ill-fated Alvisio Ville, of whom big things were anticipated. Catering for McCoy, the would-be generals of McManus' vast army were sent to Jonjo O'Neill and Nicky Henderson, but the not-so-light infantry at home in Ireland were - and still are - spread far and wide, with only a handful making their way to Closutton.

Whatever the politics, and it may simply be a case of two people playing the same game very differently, with one after the big wins and the other after the big winnings, it's now a case, at the top table at least, of McManus needing Mullins more than Mullins needing McManus. Though 'needy' is a Pointless answer on things associated with J. P. McManus.

In fact, courtesy of a manoeuvre this weekend, there's an ever so feint feeling of McManus running scared of Mullins.

Arguably the best young horse in the McManus academy, and Timeform rated 149P, is the Alan King-trained Yanworth. Called up and bought up by McManus after a winning debut, Yanworth signalled his talent by finishing fourth in the Champion Bumper before breezing through three novice hurdles this season, beating up several 130s-rated rivals on the bridle, all along looking tailor-made for the Supreme.

Normally a straight-bat forward defensive, trainers rarely go for the sweep shot these days, yet Alan King got into position by announcing that Yanworth was a probable let alone a possible to be aiming at the Neptune, and here he is, at Cheltenham on Saturday, in the 2½m trial for the Neptune; a Min-less Neptune.

Fortunately for Yanworth, it's also a Barters Hill-less Neptune trial, that one off to Doncaster to put a dent into Mullins' Up For Review, in the same way he dented Mullins' Bellshill at Aintree last year. But there's still a Shantou Village-shaped obstacle in front of Yanworth, whose suspect stamina will be tested in full at Cheltenham.

There's little in his style or pedigree to mark Yanworth as a Neptune horse, relative to his qualities for the Supreme. He's by Norse Dancer, who was at least as effective at 1m as 1½m, and the previous best of Yanworth's siblings was the free-wheeling Grand Lahou, who found his home over 2m.

Whether it's hopping aboard the Mullins juggernaut, or re-routing Yanworth to the Supreme, J. P. McManus might have to start biting bullets sooner rather than later.
 

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Interesting stuff.
Not sure what the numbers are but I would guess that the vast majority of JP horses are in England, so perhaps his strategy is to base his horses over here ?
I know he has a few with Enda Bolger but presumably that's purely for banks races.

It may appear that JP has few decent bullets to fire this year but I wouldn't put it past him to acquire one or two very decent horses before March, he's been known to pull the chequebook out late in the day and who knows someone like the Barters Hill syndicate could be tempted by a 6 figure cheque, as far as I know they own just the one horse and may see a massive sum of money an opportunity to buy a few more and sponsor their interest for a while, just a thought....
 
Istabraq said:
Interesting stuff.
Not sure what the numbers are but I would guess that the vast majority of JP horses are in England, so perhaps his strategy is to base his horses over here ?
I know he has a few with Enda Bolger but presumably that's purely for banks races.

It may appear that JP has few decent bullets to fire this year but I wouldn't put it past him to acquire one or two very decent horses before March, he's been known to pull the chequebook out late in the day and who knows someone like the Barters Hill syndicate could be tempted by a 6 figure cheque, as far as I know they own just the one horse and may see a massive sum of money an opportunity to buy a few more and sponsor their interest for a while, just a thought....
Click to expand...

Ye,I remember when he bought First gold for the Gold cup, John Francome was on atr and he said "what's the point, it's like buying Steve Redgrave"
 
An awful lot of JP wins have come in the "lesser" races so nothing really new here. 2014 was actually a bit of an oddity. Best chances this year are probably Cross Country and Foxhunters. AP often struggled for winners at the festival and Barry G will have no real banker this year ( unless you consider Ivan G a good thing).


J P McManus - 41 Wins up to last year

1982 Neptune Investment Management Nov H Mister Donovan Edward O'Grady IRE Tommy Ryan
1983 National Hunt Chase Bit Of A Skite Edward O'Grady IRE Mr Frank Codd
1991 Pertemps Final Danny Connors Jonjo O'Neill Mark Dwyer
1994 Weatherbys Champion Bumper Mucklemeg Edward O'Grady IRE Charlie Swan
1994 Coral Cup Time For A Run Edward O'Grady IRE Charlie Swan
1995 National Hunt Chase Front Line Jonjo O'Neill Mr John Berry
1996 CGA Foxhunter Chase Elegant Lord Enda Bolger IRE Mr Enda Bolger
1997 Neptune Investment Management Nov H Istabraq Aidan O'Brien IRE Charlie Swan
1998 Stan James Champion Hurdle Istabraq Aidan O'Brien IRE Charlie Swan
1999 Stan James Champion Hurdle Istabraq Aidan O'Brien IRE Charlie Swan
1999 Coral Cup Khayrawani Christy Roche IRE Fran Berry
2000 Stan James Champion Hurdle Istabraq Aidan O'Brien IRE Charlie Swan
2000 Vincent O'Brien County H'cap Hurdle Master Tern Jonjo O'Neill Tony Dobbin
2002 Sky Bet Supreme Novices' Hurdle Like-A-Butterfly Christy Roche IRE Charlie Swan
2002 Ladbrokes World Hurdle Baracouda Francois Doumen FR Thierry Douman
2002 National Hunt Chase Rith Dubh Jonjo O'Neill Mr J T McNamara

2003 Festival Trophy Handicap Chase Youlneverwalkalone Christy Roche IRE Barry Geraghty
2003 Ladbrokes World Hurdle Baracouda Francois Doumen FR Thierry Douman
2004 Pertemps Final Creon Jonjo O'Neill Timmy Murphy
2005 Glenfarclas Cross Country H'cap Chase Spot Thedifference Enda Bolger IRE Mr J T McNamara
2005 Johnny Henderson Grand Annual Chase Fota Island Mouse Morris IRE Paul Carberry
2006 Pertemps Final Kadoun Michael O'Brien IRE Tom Ryan
2006 Rewards4Racing Novices' H'cap Chase Reveillez James Fanshawe A P McCoy
2007 Glenfarclas Cross Country H'cap Chase Heads Onthe Ground Enda Bolger IRE Ms Nina Carberry
2007 National Hunt Chase Butler's Cabin Jonjo O'Neill Mr Alan Berry
2007 Albert Bartlett Novices' Hurdle Wichita Lineman Jonjo O'Neill A P McCoy
2007 CGA Foxhunter Chase Drombeag Jonjo O'Neill Mr J T McNamara
2008 Sky Bet Supreme Novices' Hurdle Captain Cee Bee Edward Harty IRE Robert Thornton
2008 Glenfarclas Cross Country H'cap Chase Garde Champetre Enda Bolger IRE Ms Nina Carberry
2009 Festival Trophy Handicap Chase Wichita Lineman Jonjo O'Neill A P McCoy
2009 Glenfarclas Cross Country H'cap Chase Garde Champetre Enda Bolger IRE Ms Nina Carberry
2010 Stan James Champion Hurdle Binocular Nicky Henderson A P McCoy
2012 Festival Trophy Handicap Chase Alfie Sherrin Jonjo O'Neill Richie McLernon
2012 Fulke Walwyn Kim Muir H'cap Chase Sunnyhillboy Jonjo O'Neill Mr Alan Berry
2012 Vincent O'Brien County H'cap Hurdle Alderwood Tom Mullins IRE A P McCoy
2012 Betfred Cheltenham Gold Cup Synchronised Jonjo O'Neill A P McCoy
2012 Johnny Henderson Grand Annual Chase Bellvano Nicky Henderson Paul Carberry
2013 Albert Bartlett Novices' Hurdle At Fishers Cross Rebecca Curtis A P McCoy
2013 Johnny Henderson Grand Annual Chase Alderwood Tom Mullins IRE A P McCoy
2014 Stan James Champion Hurdle Jezki Jessica Harrington IRE Barry Geraghty
2014 Ladbrokes World Hurdle More Of That Jonjo O'Neill Barry Geraghty
 
Morning Glory said:
What a difference a few days make.
Click to expand...

You're not wrong.
The bible this morning saying that JP has 5 festival favs and after the Mullins camp took a few knocks at the weekend he was value for the festival owners title
 
Mullins biggest owner - 37 Gigginstown Horses

<style type="text/css"><!-- body,div,table,thead,tbody,tfoot,tr,th,td,p { font-family:"Liberation Sans"; font-size:x-small } --> </style>
HORSERPRWINSRUNSWINNINGSEARNINGS£1 STAKE
Don Poli
16011£69,767£69,7670.67
Devils Bride15048£56,686£58,85715
Gangster14734£32,070£32,0702.58
Outlander14822£28,116£28,1162.25
A Toi Phil15123£25,483£25,4834
Roi Des Francs15123£24,634£26,6181.24
Apple's Jade13411£21,415£21,41512
Sir Des Champs15812£13,101£15,4260.1
Argentino13416£12,597£26,4733
Balko Des Flos12323£11,437£11,4370.82
Lucky Pass13422£10,698£10,6982.57
McKinley13712£8,118£10,1020.5
Measureofmydreams13711£7,103£7,1031.38
Aminabad14016£6,953£10,136-4.09
Tell Us More13212£6,849£7,609-0.33
Stone Hard13513£6,419£6,419-1
Nambour12312£6,419£9,349-0.75
Net D'Ecosse12512£5,884£5,8841
Unic De Bersy13917£5,884£12,228-3
Nickname Exit13917£5,884£9,177-2.5
Monbeg Rose11514£5,616£7,6020
Petit Mouchoir14112£5,349£11,279-0.8
Bello Conti13511£5,349£5,3490.62
Arkwrisht13213£5,349£7,458-1.1
Potters Point12812£4,814£5,5740.38
Avenir D'Une Vie11813£4,814£6,622-1.27
Village Mystic12311£4,566£4,5660.57
Petite Parisienne13301£0£4,787-1
Valseur Lido16001£0£12,519-1
Rough Justice12901£0£950-1
Sutton Manor9801£0£1,059-1
Blow By Blow11301£0£1,178-1
Berry Des Aulmes11502£0£1,845-2
Burgas12001£0£515-1
As De Ferbet12603£0£3,597-3
Balnaslow13904£0£1,163-4
Mozoltov15402£0£16,783-2

<tbody>
</tbody>
 
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36 Ricci Horses

<style type="text/css"><!-- body,div,table,thead,tbody,tfoot,tr,th,td,p { font-family:"Liberation Sans"; font-size:x-small } --> </style>
HORSERPRWINSRUNSWINNINGSEARNINGS£1 STAKE
Faugheen
17612£48,529£61,049-0.7
Djakadam17211£39,535£39,5351.75
Douvan17033£90,822£90,8220.82
Blood Cotil15301£0£1,471-1
Min15222£23,878£23,8780.51
Long Dog15166£121,957£121,9573.85
Vroum Vroum Mag15122£27,713£27,7130.31
Dicosimo15011£13,101£13,1011.25
Pont Alexandre15012£6,953£12,891-0.33
Sempre Medici14811£14,338£14,3380.13
Max Dynamite14701£0£44,574-1
Kalkir14601£0£13,971-1
Childrens List14528£13,907£20,136-4.3
Thomas Hobson14224£14,442£19,0810.3
Ballycasey14201£0£0-1
Daneking14204£0£5,953-4
Indevan14109£0£2,977-9
Arbre De Vie14001£0£1,294-1
Renneti13911£6,953£6,9530.9
Valyssa Monterg13816£37,209£41,3883
Limini13822£23,147£23,1472.05
Totally Dominant13601£0£1,985-1
Au Quart De Tour13413£6,342£6,342-1
Bamako Moriviere13202£0£1,814-2
Pylonthepressure13002£0£3,018-2
Royal Caviar12712£5,349£9,5400
Karalee12311£5,616£5,6160.5
Let's Dance12301£0£1,736-1
American Tom12011£8,023£8,0230.53
Tarare11802£0£1,116-2
Clondaw Court11801£0£659-1
Beau Mome11403£0£1,933-3
Some Neck10501£0£1,178-1
Vedettariat7302£0£0-2
Dogora001£0£0-1
Moyle Park001£0£0-1

<colgroup span="7" width="85"></colgroup> <tbody>
</tbody>
 
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Istabraq said:
You're not wrong.
The bible this morning saying that JP has 5 festival favs and after the Mullins camp took a few knocks at the weekend he was value for the festival owners title
Click to expand...

I wonder if the writer is regretting that article already.
 
Whats the story with Potts horses ?

THE multiple Grade 1-winning partnership between Henry de Bromhead and leading owners Alan and Ann Potts has come to an end following the removal of 13 horses from the Waterford trainer’s stable last week.

Sizing John, one of last season’s elite novice chasers, is now being trained by Jessica Harrington, who has also been sent the smart Supasundae. The mud-loving grey Smashing is among those to have joined Mouse Morris. Colm Murphy and Jim Dreaper are the other beneficiaries of the shock decision to completely dispense with De Bromhead’s services.

All four trainers were already on the Potts roster.

De Bromhead’s association with the Pottses yielded tremendous success at the highest level, spearheaded by the superlative feats of dual Cheltenham Festival hero Sizing Europe.

The 2011 Champion Chase winner was responsible for eight of the ten Grade 1 triumphs De Bromhead and the Pottses enjoyed together since landing the 2008 Irish Champion Hurdle field by eight lengths.

'It would be a blow to any stable'

“The horses left last week,” De Bromhead confirmed yesterday, although he would not be drawn on the reasons behind the departure of owners who were surpassed by only Gigginstown Stud, JP McManus and Rich Ricci in last season’s owners’ title championship.

De Bromhead added: “It would be a blow to any stable, but we wish them the best of luck. Alan and Ann have been great supporters over the years but things move on and we’ll drive on again now. We enjoyed a lot of success together, winning the Champion Chase with Sizing Europe, and winning our first Grade 1 together in the Irish Champion Hurdle was brilliant.”

Despite the loss of such classy operators as Sizing John, Smashing and Supasundae, De Bromhead, who still has more than 50 horses at his Knockeen stable on the outskirts of Waterford, was magnanimous about the development.

“We have a lot of nice horses to look forward to for the season ahead,” he added.
Click to expand...

annthing to do with

Gigginstown increase support for De Bromhead with point-to-pointer plan


HENRY DE BROMHEAD may have lost one big owner this week but an even bigger one has increased numbers with the Knockeen-based trainer.

Alan and Ann Potts’ shock decision to withdraw all their horses hit De Bromhead for six. However, Gigginstown have given the trainer a welcome boost with racing manager Eddie O’Leary revealing to the Racing Post that he will train a third of their point-to-pointers as well as an increased number of horses for the track.

“Henry is a top-class trainer and we’re delighted to have him training our horses,” O’Leary said.
“He’ll train a third of our pointers this season, with Pat [Doyle] also taking a third and Gordon [Elliott] taking the other third. It means we have all the areas covered.
“
Pat will cover the south, Gordon the east and north and Henry the south-east. Hopefully it will work well. Then next season Henry will get the pointers that Gordon has this year.

“We’ll be following the same policy we’ve used for the last number of years in that the pointers will move yards after each campaign. It’s worked well to date.”

O’Leary added: “The thing I love about Henry is that he’s able to get his horses jumping exceptionally well and that’s a huge asset to have.

“Identity Thief will hopefully continue that trend and he’s set to go chasing this season, so he’s one to look forward to.
Click to expand...
”
 
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Dunno mayo. Both Potts and Gigginstown have reputation of being demanding/ruthless owners. I believe Gigginstown allocate new horses against some sort of performance target. Not sure if Potts has one !
 
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Potts horses off to Tizzard now.
 
Gigginstown cut ties with Mullins!

De Bromhead and obviously Elliott .... that is pretty huge!
 
Big blow for Ricci losing Vautour and Annie this season.

Min might step up but a feeling that his years of dominance might be coming to an end. It was some run.
 
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