Irish horse racing magnate and Manchester United shareholder Mr John Magnier will "vigorously contest" legal action by Manchester United manager Sir Alex Ferguson over the racehorse Rock of Gibraltar, it emerged today.
The United manager has issued a writ against Mr Magnier - the club's biggest shareholder - demanding tens of millions of pounds in stud fees from the horse which he claims the pair co-own.
Sir Alex (61) claims he was given a 50 per cent share of the champion racehorse by Mr Magnier as a present and wants half the stud fees.
Rock of Gibraltar won a record seven successive Group One races in Sir Alex's colours, but the United manager says he was offered just a fraction of the horse's stud value, it was reported.
A statement issued on behalf of Mr Magnier and Coolmore stud farm in Co Tipperary, reads "We wish to point out in response to the lodging of legal proceedings against our clients by Sir Alex Ferguson in Dublin that our clients consider them to be without merit, and that they will be vigorously contested."
Mr Magnier and his business partner Mr JP McManus, via The Cubic Expression Company Limited, increased their shareholding in United to just over 23 per cent last month. A Manchester United spokesman said he was aware of the legal action but that it was a private matter between the individuals concerned.