Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

J.P. McManus fights tax

Gored by the IRS after gambling payday

This man won $17.5 million in a bet.
This man won $17.5 million in a bet.

Alec Gores, brother of onetime San Diego Union-Tribune owner Tom Gores, came out a big loser in a round of betting with Irish billionaire J.P. McManus, but McManus is still fighting to hold on to his winnings. Alec (like his brother, a vulture takeover fund billionaire with Palestinian roots) gave up $17.5 million during an unidentified game of chance with McManus back in 2012.

The IRS later hit McManus with $5.2 million in taxes. He’s subsequently sued, asserting last month that a treaty between Ireland and the U.S. barred the levy. By latest report, the case will be heard this summer.

Sponsored
Sponsored

Meantime, Tom Gores, who owned San Diego’s U-T from May 2009 (when he bought it from David Copley) through December 2011 (when he sold it to Douglas Manchester), likes to gamble in Hollywood. In June 2011, the Associated Press carried a story about unlicensed California poker games drawing a spate of lawsuits, noting, “being sued is billionaire businessman Alec Gores, who along with his brother, attempted to buy Miramax Films last year.” (The Gores-owned U-T ran the item but deleted the words “along with his brother.”)

These days, Tom owns the Detroit Pistons and is looking to build a basketball arena in that city’s downtown. The California-based mogul has hired sports agent Arn Tellem to look around for a deal. “Arn is doing some heavy lifting on really trying to understand what’s the best thing for everybody,” Gores told the Detroit News on January 18. “I’d say we’re in the diligence process and we’re keeping a close eye on it but we just made a philosophical decision that we want to do more in Detroit.”

The team currently occupies the suburban Palace of Auburn Hills. “We all probably have thought about moving one day from our current houses,” said Gores, “but you still take care of that home and you respect it and it needs to be touched with all your emotions.” He added, “It’s always a tricky thing for us because this is our home and we need to adorn it. At the same time, we understand what’s going on in downtown cities and we’re looking at it very, very seriously.”

The latest copy of the Reader

Please enjoy this clickable Reader flipbook. Linked text and ads are flash-highlighted in blue for your convenience. To enhance your viewing, please open full screen mode by clicking the icon on the far right of the black flipbook toolbar.

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Todd Gloria gets cash from McDonald's franchise owners

Phil's BBQ owner for Larry Turner
Next Article

The Fellini of Clairemont High

When gang showers were standard for gym class
This man won $17.5 million in a bet.
This man won $17.5 million in a bet.

Alec Gores, brother of onetime San Diego Union-Tribune owner Tom Gores, came out a big loser in a round of betting with Irish billionaire J.P. McManus, but McManus is still fighting to hold on to his winnings. Alec (like his brother, a vulture takeover fund billionaire with Palestinian roots) gave up $17.5 million during an unidentified game of chance with McManus back in 2012.

The IRS later hit McManus with $5.2 million in taxes. He’s subsequently sued, asserting last month that a treaty between Ireland and the U.S. barred the levy. By latest report, the case will be heard this summer.

Sponsored
Sponsored

Meantime, Tom Gores, who owned San Diego’s U-T from May 2009 (when he bought it from David Copley) through December 2011 (when he sold it to Douglas Manchester), likes to gamble in Hollywood. In June 2011, the Associated Press carried a story about unlicensed California poker games drawing a spate of lawsuits, noting, “being sued is billionaire businessman Alec Gores, who along with his brother, attempted to buy Miramax Films last year.” (The Gores-owned U-T ran the item but deleted the words “along with his brother.”)

These days, Tom owns the Detroit Pistons and is looking to build a basketball arena in that city’s downtown. The California-based mogul has hired sports agent Arn Tellem to look around for a deal. “Arn is doing some heavy lifting on really trying to understand what’s the best thing for everybody,” Gores told the Detroit News on January 18. “I’d say we’re in the diligence process and we’re keeping a close eye on it but we just made a philosophical decision that we want to do more in Detroit.”

The team currently occupies the suburban Palace of Auburn Hills. “We all probably have thought about moving one day from our current houses,” said Gores, “but you still take care of that home and you respect it and it needs to be touched with all your emotions.” He added, “It’s always a tricky thing for us because this is our home and we need to adorn it. At the same time, we understand what’s going on in downtown cities and we’re looking at it very, very seriously.”

Comments
Sponsored

The latest copy of the Reader

Please enjoy this clickable Reader flipbook. Linked text and ads are flash-highlighted in blue for your convenience. To enhance your viewing, please open full screen mode by clicking the icon on the far right of the black flipbook toolbar.

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Gonzo Report: Three nights of Mission Bayfest bring bliss

“This is a top-notch production.”
Next Article

At 4pm, this Farmer's Table restaurant in Chula Vista becomes Acqua e Farina

Brunch restaurant by day, Roman style trattoria by night
Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader