JP McManus’ €3.2million donation to Gaelic Games has drawn both criticism and admiration across Ireland.
Every county board will receive €100,000 as part of McManus’ desire to assist the continued development of Gaelic Games in the country.
McManus is a long time sponsor of Limerick GAA and made the donation following the county’s first Liam McCarthy Cup triumph in 45 years.
Joe Molloy was joined by Vincent Hogan and Denis Walsh on the Sunday Paper Review to discuss McManus’ generous donation.
“I think there’s a slight conflict in how people look at it,” Hogan told OTB.
“We’ve always wondered how JP makes his money in the currency markets - which is essentially a giant casino - and can be seen as a quite negative place.
“And yet you see all the money that has been raised from the events that JP has been involved in and it’s very hard to have a clear cut opinion on this.
“There are a lot of people from the GAA listening to this and saying: ‘You don’t get this guys’.
“To a small rural club it’s such a lift. Fundamentally, people like him because his demeanour is so gentle, unassuming and he tries to stay in the background.
“That’s something that Irish people tend to like as well. He doesn’t flaunt his wealth but you can’t pick and choose where you pay your tax.”
Walsh also shared his reservations about McManus’ personal taxation but highlighted his importance to Irish sporting life.
“I still don’t understand why he needs to have his business in Geneva,” Walsh asked.
“This currency trading business is done on computers. It’s not done face to face with anybody, it’s done by pressing a button on a screen.
“JP and his money intersect with Irish life in so many ways. Michael O’Leary doesn’t entertain bad horses. JP doesn’t operate like that. A lot of small trainers need his patronage to keep going.
“People in the racing industry know how powerful he is but they also know if he decided in the morning that he wasn’t interested in racing anymore – there would be such a hole in the industry that I don’t if it would survive.
“His generosity is fantastic and he should be lauded for it. But he should be paying tax.”
James Hopper
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