The death has taken place of Martin Birrane originally from Knockmore, owner of the Peer Group plc and Mondello Park racetrack, and a former President of the Mayo & District Motorsport Club.
Mr Birrane passed away on Saturday at the age of 82.
The Mayo native was rated as one of Ireland's most successful business people, having built the London-based Peer Group property portfolio to its current worth of 190 million pounds.
A former motorsport driver and team owner, he bought Mondello Park in Co Kildare in 1986 and invested heavily in the venue, which is currently the only permanent motor racing circuit in the Republic of Ireland with an FIA licence.
Martin Birrane passed away suddenly, and is survived by his wife of 60 years Susan, four children and five grandchildren.