Former motor racing journalist McNally (87), a Donegal native who is the brother of boxer Joe McNally, is a long-time associate of ex-Formula One supremo Bernie Ecclestone.
He made his fortune in 2006, after selling Allsport Management - the F1 events, corporate entertainment and trackside advertising business that he founded in 1984 - to private equity giant CVC for €275m.
The events and corporate entertainment side of the firm attracted guests including Hollywood actors and billionaires. Blue-chip sponsors paid big money to the firm, and the business required a logistical effort not unlike F1 itself, with equipment and people moving from one race track to the next across the globe. Hundreds of workers were involved, from chefs and entertainers, to security, electricians, catering staff, cleaners, sommeliers, hairdressers, massage therapists, construction crews and logistics contractors.
He owns two mansions on extensive grounds in the south of England and others in Switzerland and the Cote d'Azur, where he keeps a Sunseeker yacht.
He previously dated Sarah Ferguson, the ex-wife of Britain's Prince Andrew. A chalet in the Swiss ski resort of Verbier that is believed to be owned by McNally reportedly costs €26,000 a week to rent. A Rich List in a Swiss newspaper once estimated McNally's wealth at closer to €600m.