Paul McGuinness long time manager of U2 will begin to take a less “hands on” role as Live Nation continues to negotiations to buy Principal Management as well as Madonna’s management company Maverick. 

McGuinness would become the chairmen of Principal. Live Nation is expected to pay 22 Million Euros for both firms. Paul has managed U2 from the start of the career. Even joked at times as the 5th member of U2.  Paul did make a statement that said “"It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock 'n' roll code of conduct.

"As I approach the musically relevant age of 64 I have resolved to take a less hands-on role as the band embark on the next cycle of their extraordinary career."

Mr McGuinness added: "I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business."