The funeral of well-known island businessman Bryan Stott will take place on Thursday.

Mr Stott, was the ManSat Group’s co-founder, first chairman and, latterly, chair of its advisory board.

Educated at King William’s College, Bryan studied estate management at London University before embarking on a career that spanned property, banking, space, and more.

His early career with Chrystal Brothers as an auctioneer, chartered surveyor and estate agent led him to partnership there and contributed to his in-depth knowledge of the property market in the Isle of Man and elsewhere.

His work creating residential homes led him to property development in London, Florida and around the world, creating a legacy of offices, public buildings, redeveloped and rejuvenated city centres, and flats.

In the 1980s he worked to establish Glen Kella whiskey, now Manx Spirit, the island’s first modern distillery.

From his time with the Isle of Man Bank, as its youngest director in 1973 and then as chairman, Mr Stott also served the banking community both in the island and abroad.

He was chair of NatWest Offshore, the Manx subsidiaries of Coutts and Ulster Bank, and others.

He was one of the Isle of Man Bank’s longest serving chairs when he retired in 2000, after which he was invited to serve with the island’s Financial Supervision Commission (now the Financial Services Authority) as a financial regulator.

In the late 1990s and early 2000s he worked with his son, Chris Stott, to establish the space industry in the Isle of Man with the formation of ManSat.

After stepping down as chairman of the main board in 2008, he retained his connection with the company as chair of its advisory board.

Katherine Gizinski, chief executive officer of ManSat, said: ‘On behalf of all at ManSat, we are incredibly grateful for Bryan’s support in establishing ManSat as an organisation.

‘His professionalism, tremendous work ethic, and counsel were instrumental in positioning ManSat as a major player in the global satellite industry. We gladly carry a small portion of Bryan’s legacy forward as we continue our work.

‘An outstanding businessman and a lovely person, he is sorely missed.’

His son Chris said: ‘In addition to his business life, Dad was a devoted family man and passionate about the Isle of Man and its community.

‘He was a keen supporter of many charities, from Round Table to Rotary, to working as chair of Isle of Man Anti-Cancer in its many campaigns, managing fundraising projects for Isle of Man Railways, serving with the Manx Museum during its expansion, serving with the Scouts, and supporting the Save the Children organisation and the London Royal College of Music. He also had a strong involvement in the establishment of Life Education Centres, the children’s health education and drug prevention charity in the island and in the UK.’

Mr Stott, who was 82, had a passion for sports – in particular, football, cricket, snooker, and motorsport.

He was once a competitive rally driver himself and later compered the Manx Rally for many years with Manx Radio.

He loved cricket and most especially the lunches with his friends at Lords.

‘Dad never met a stranger,’ said Chris. ‘He made many friends and worked tirelessly to make the island a better place in so many ways. He deeply loved his family and his friends and is loved deeply in return by all of them.’

Bryan leaves behind his wife, Elizabeth, his sons Chris and James, his daughters-in-law Nicole and Anne Marie, and grandchildren Roman, Isabella, John, and Harrison.

His funeral takes place at 10am on Thursday, September 1, at St Anthony’s Church in Onchan.