Gardaí believe a secondhand car salesman who was found murdered in south Dublin may have been shot dead after inviting people he had been drinking with back to his home.

Liam 'Blackie' Murray (43) was shot four times while he lay in the bed of his cottage at Rockbrook Road in Rathfarnham. His body was discovered on Friday morning but he had been dead for at least 48 hours.

Detectives are investigating two theories as to why he was killed. The first relates to a dispute with a former member of the IRA who was released early under the Good Friday agreement.

It is known that Murray had entered into a business arrangement with the former terrorist, but a dispute arose over how much he was owed.

Gardaí are aware Murray received a number of threatening text messages from the man and his associates. It is believed the group may have decided to murder Murray rather than pay the debt.

Another theory being considered is that the murder was in revenge for a recent fight in a pub in Stepaside. Blackie Murray and his friends are thought to have beaten up a man with links to serious criminals because he owed the dead man money.

Murray was last seen on St Patrick's Day at a pub and it is possible that he may have been drinking with his killer and invited him back to his cottage to continue drinking.

Murray suffered four wounds to the head and chest from close range and was probably asleep when the shots were fired. There was no sign of a break-in at his home.

The dead man was regarded as being a bit of a loner who was not a member of any criminal gang but associated with criminals through his secondhand car business. He was known to pass-off fake €50 notes.

Murray comes from a respectable family and his sister is a solicitor. He was independently wealthy and had built up a significant property portfolio over the years.

He was the ninth gangland victim this year and the 11th to be murdered overall.