Irish racing tycoon John Magnier has emerged as an investor in Setanta Sports. The Sunday Business Post says the Cork-born thoroughbred stud owner has built a stake of 6% through his Swiss investment vehicle Acomita, purchasing the share from Davy Stockbrokers. The holding is worth more than €50 million when debt is taken into account.
Other shareholders in the premium sports business, the ongoing subject of takeover talk, include company directors Richard Brooke and Mark O’Meara. JP Morgan Chase, which advised the company on a fundraising drive in 2006, sold its share last August to fellow shareholders.
Setanta’s founders Leonard Ryan and Michael O’Rourke still hold 5% and 10% of the company respectively.
Magnier’s other media investments include Global Radio, which last year bought the Chrysalis Group’s radio stations including Heart brand and is now looking to acquire the GCap group.