David Power leads tributes after death of Paddy Power co-founder John Corcoran

David Power has led the tributes to fellow Paddy Power co-founder John Corcoran, who died aged 89 on Saturday, describing the hugely successful businessman and racehorse owner as "the driving force" behind the betting company.

Paddy Power bookmakers was created in 1988 by the merger of the 40 shops of three Irish bookmakers – Stewart Kenny, Power and Corcoran.

Power, whose son Paddy is the well-known face of the operation, said: "I think Stewart summed it up to me the other day when we were discussing it when he said 'a life well lived'.

"It was John's idea to start the Paddy Power company and he was the driving force behind the whole concept."

Paddy Power: was founded in 1988 by Stewart Kenny, David Power and John Corcoran

Corcoran's success in business was mirrored on the racecourse through his endeavours as an owner with close friend Jim Bolger, with whom he enjoyed a long and successful association, highlighted by top-flight performers Lush Lashes, Banimpire and Verbal Dexterity.

"First of all, John was a very good friend and a thorough gentleman," Bolger said. "We knew each other for a long time. I used to go into his bookies when I was 12 years old, so that's how long I knew him.

"When I went training he came to me and our relationship went from there. He was associated with a lot of very good horses including Verbal Dexterity.

"We never, ever had words in our lives and he was an ideal owner from a business point of view. He was a great winner and loved winning, but I've never met anyone who could take losing like he did.

"If any trainer was looking for an owner he'd be the model. I'll miss him greatly, both as a friend and at the races.

"Racing won't be the same for us. He was always with us at the races and it didn't matter if he owned a bit of a horse or if he owned it outright – he got as much enjoyment out of the winners we would have."

Jim Bolger: owned horses with CorcoranCredit: Patrick McCann (racingpost.com/photos)

Bolger added of the early days: "The betting office was in Enniscorthy in County Wexford, and at that time it was known as
P Corcoran Bookmakers.

"P [Patrick] Corcoran was John's father and the Corcoran family would have been a very well-known family in the area as Patrick was on the first ever Wexford team to win an All-Ireland hurling final. They'd have been known the length and breadth of the county.

"John was a fantastic businessman as well as a successful owner and he built up the Green Property Company in Dublin which was hugely successful through the years.

"He would be responsible for a lot of prominent buildings around Dublin, and I suppose his biggest one would be the Blanchardstown centre.

"He was the instigation of bringing the three betting firms together to join Paddy Power and showed great foresight. It was all his idea."

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