McManus regrets United share deal

Irish multi-millionaire JP McManus, whose horse Like-A-Butterfly won the first race at Cheltenham today, has broken his silence over Manchester United.

The owner of three times Champion Hurdle winner Istabraq now admits he would never have got involved with United if he knew it would cause so much trouble.

McManus, a friend of Sir Alex Ferguson, increased his stake in the football club with millionaire flat racing owner John Magnier to 8.65 per cent last year.

That lead to speculation that the pair, part of the group known as the 'Coolmore Mafia' after Magnier's Coolmore Stud in Ireland, were about to launch a takeover for United inserting Ferguson as chairman. They then denied they were behind Ferguson's decision to stay on as manager.

McManus' focus this week is on the Cheltenham Festival where Istabraq failed to win a record fourth Champion Hurdle today.

But he said of his United share deal: "If I thought they were going to cause so much media speculation I don't think I would have ever bought them in the first place.

"I thought they were a reasonable investment."

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