Racing legend dies aged 77 as heartbroken pal says ‘I knew this day was coming’

RACING titan and ‘king of the ring’ David Power has died aged 77 after a long illness.

The legendary bookmaker, owner and co-founder of Paddy Power went from revered racecourse figure to running one of the biggest betting companies in the world.

He was also a shrewd judge of a horse and counted Slade Power – who won more than £1million from 20 races – among his best runners.

Power retired from bookmaking after the 2018 Cheltenham Festival, by which time his wealth was estimated at a staggering £309m.

He trained as a chartered accountant before inheriting the on-course bookie business set up by his grandfather in 1894.

Identifiable by his famous pipe, Power became the man in the ring under the ‘Richard Power’ sign and in 1988 struck the deal that changed his life.

After partnering with fellow bookies Stuart Kenny and John Corcoran, Paddy Power was launched, made its way onto the high street and then joined with Betfair in 2016.

When he retired the business was worth around £6.8billion. Today, Flutter, the parent company of Paddy Power, Betfair and Sky Bet, is worth more than £27.5bn.

Power never lost his love of a big bet and was renowned for treating winners and losers exactly the same.

Bookie Geoff Banks recalled one such mesmerising encounter.

He wrote on X: “He was a bookmaker in the tradition of the best of the code. And his relations with punters was always genial.

“When Yeats won his 20th Ascot Gold Cup, he laid the horse to win in excess of £150,000 to lose.

“When it passed the post in front, he simply remarked ‘that was impressive’ with a little smile.

“And that’s what he was. Impressive. To those who knew and loved him, to those who worked for him.”

While Eddie Lynam, who trained Power’s horses Slade Power and Sole Power, told the Racing Post: “David was a pure gentleman, and the lads who would know said he was king of the ring.

“He was always pleasant and you would never know whether he won or lost – his demeanour would never change.

“I knew this day was coming as he hadn’t been well, but it’s still a big shock. They are such a lovely family, each one of them.”

More to follow.