The award is given by the Music Manager's Forum, and is regarded as the most prestigious award for managers in the international music business. Among the previous recipients were Jazz Summers, who managed Wham among other artists and was involved in founding Big Life Publishing, and the ie:music team of David Enthoven and Tim Clark, who manage Robbie Williams. Clark is a former MD of Island Records and Enthoven managed T.Rex, Roxy Music and Brian Eno before joining forces with Clark. Their company ie:music also manage the careers of Massive Attack and Craig Armstrong.
Paul McGuinness is, of course, the boss of Principle Management, who are best known as the management company behind U2. McGuinness is widely credited with playing a vital role in steering the Irish band to the stellar heights – and enormous record sales – they have attained. He is one of the shrewdest, as well as articulate and erudite managers in the music industry.
"There's no doubt that McGuinness is among the best in the business," one insider told Hot Press. "In a way I'm surprised that he hasn't received the award before – but it is a suitable recognition for what he has achieved with U2, and in management generally. Iit is thoroughly deserved."
Principle, whose HQ is in Dublin, also handle the affairs of P.J.Harvey and Paddy Casey and were previously involved with the career of Chrissie Hynde.
The award is named in honour of the legendary Led Zeppelin manager, Peter Grant, who was a key figure in transforming the way in which artists are paid, as a result of which the level of artists' remuneration from touring, recording and songwriting was dramatically improved.
The awards take place at Hilton Park Lane on April 19.