Shamrock coterie with a gift for picking winners

In the main racehorse yard at the fabulous Ballydoyle stable in Co Tipperary, most of the absurdly expensive blue bloods have as their paymaster John Magnier. In the lower stables at Ireland's premier training establishment are just a few old National Hunt horses, but they include Istabraq, perhaps the most celebrated jumping animal of the modern era.

The triple winner of the Champion Hurdle is owned by J P McManus and so here, as in much of Ireland's top business dealings, we see two members of a privileged shamrock coterie coming together.

Mr Magnier and Mr McManus, who bought 10 million shares in Manchester United last week in two tranches, may be associated with different codes on the turf, but they are bonded by their reserve, their ability to make money and by mutual friends. Foremost among these is Michael Tabor, a racehorse owner who owns many of the Ballydoyle stable's horses in partnership with Mr Magnier's wife, Susan, and the even wealthier currency dealer Joe Lewis.

Both were at Limerick Golf Club last week when John Patrick McManus managed to entice a well-known face. They must have clapped heartily when the rules Mr McManus devised allowed him to to beat the guest, Tiger Woods. These are men not used to losing, whatever the scenario.

Mr Magnier, whose father- in-law Vincent O'Brien is recognised as perhaps the greatest trainer of a racehorse, has been on more serious duty this week, attending the July Selected Yearling Sale in Lexington, Kentucky, perhaps the foremost market in the world for young horseflesh.

It has been an exercise in restocking Ballydoyle, which he owns, for next year, after the glorious successes this season for Black Minnaloushe, Mozart and the sport's newest wonderhorse, Galileo, the winner of the Derby and its Irish equivalent at the Curragh. Such is the power these days of this particular Celtic tiger that Mr Magnier, via his buyer in chief, Demi O'Byrne, has regularly been outbidding the previous biggest beast in the jungle, Dubai's crown prince Sheikh Mohammed. On Monday, Mr Magnier bought a single unproven colt for $4m (£2.9m).

Ballydoyle and racing prizemoney is a stopping-off point. Mr Magnier's big bucks come from the breeding shed and his Coolmore Stud near Ballydoyle, which has been developed into a repository for some of the world's most valuable stallions, including Montjeu, Giant's Causeway and the big daddy of them all, Sadler's Wells. The old boy is 20, but he still commands about Ir£200,000 (£160,000) a cover, and, as more than 100 mares a breeding season find his favour, the figures mount up.

It is an intoxicating arrangement and one to which Sir Alex Ferguson was swiftly drawn. The Manchester United manager has become good friends with the Ballydoyle trainer, Aidan O'Brien, and has by no means been shabbily treated by arrangements at the yard. The horses that have run in the Scot's ownership have been largely successful.

Mr O'Brien also trains Istabraq for Mr McManus, the darling of the Irish punting fraternity. He used to be one of them. No matter that he is now a tax exile in Geneva, generating his wealth largely by playing in the financial markets.

Mr McManus used to drive JCBs and was a bookmaker himself before turning his guns on the old enemy. In the 1970s and the following decade, Mr McManus became known as The Sundance King, the most famous punter in the land.

Mr McManus was part of a consortium of Irish businessmen that paid about £40m for the luxurious Sandy Lane resort in Barbados, which is one of the world's most exclusive hotels but also one of the hotels it has taken the longest time to redevelop. He does not like to talk about the investment he has put in. Perhaps Mr McManus will be happier if he can persuade Manchester United to make a pre-season tour of the Caribbean.

CLUB LET DOWN BY A STRING OF 'SAVIOURS'

Robert Maxwell – 1984

Maxwell offered to buy the club for £10m but pulled out when the Edwards family asked for £15m – what now appears a hugely undervalued figure for the world's biggest football club. Despite the rebuff, Maxwell continued to acquire interests in football clubs, and was welcomed as a saviour by the fans of Oxford United when his intervention ensured that the club would not go to the wall.

Michael Knighton – 1989

Sadly for Mr Knighton, his ability to attract attention proved superior to his skills at wooing investors to finance his audacious bid. He claimed to have saved the club from Maxwell but his fame was secured by his ball-juggling antics wearing full United kit on the Old Trafford pitch. Soon afterwards, his offer was exposed as being underfunded. Mr Knighton later turned up in control at Carlisle United.

VCI – 1996

Talks between Manchester United and the video and publishing group lasted for at least a month before the company walked away from the £300m deal when the club's share price rocketed. Martin Edwards, the club's chairman, first met VCI's advisers, HSBC, two days after the club had beaten Liverpool in the FA Cup final to land a domestic double. The club made no announcement about the approach.

BSkyB – 1998-99

Rupert Murdoch's BSkyB was willing to pay £623m to take over the club until its bid was blocked by the Monopolies and Mergers Commission. Despite claiming the deal was in the club's best interest, fans opposed the takeover and rounded on Sky executives, saying they knew little about the club. The bid was finally ruled out by the MMC because of the unfair advantage it would give BSkyB in the battle over television rights.