Coolmore gang may sell gym chain

THE ‘Coolmore Mafia’ are poised to cash in on their stake in a chain of fitness clubs in Britain.

John Magnier, JP McManus, Dermot Desmond and Michael Tabor own 60% of the shares in Next Generation Clubs, which runs 14 fitness centres across Britain. The former Kerry group chief executive Denis Brosnan (Next Generation’s chairman) also has a stake.

A spokesperson for the company confirmed that investment bank UBS had been appointed to advise on its future options. These include an outright sale of the business.