Key facts
- The Professional Jumping League (PJL) has raised $50 million (£38 million) from its first team sale.
- The team was purchased by US investor and racing driver Jason McCarthy.
- The PJL is backed by Frank McCourt, owner of Olympique Marseille.
- The sale price is considered a record for a new franchise in a startup league.
- The league plans to launch next year with 16 teams and a 14-leg calendar.
The Professional Jumping League (PJL), a new showjumping competition backed by Frank McCourt, has secured $50 million (£38 million) from the sale of its first team. The buyer is US investor and racing driver Jason McCarthy, whose purchase is reportedly a record for a new franchise in a league yet to commence its first event.
McCourt, who also owns French football club Olympique Marseille, stated that the investment is a strong endorsement of the PJL's vision and the future of showjumping. He highlighted the league's ambition to attract new capital and growth opportunities to the sport, welcoming McCarthy Jumping Team as the first ownership group.
The PJL aims to draw top riders and horses by offering $300 million (£227 million) in prize money over its initial three seasons. The league also targets sponsors interested in its affluent following. Plans include a 14-leg calendar spanning North America, Europe, and the Middle East, alongside a behind-the-scenes documentary produced by Box to Box Films, known for Formula 1's 'Drive to Survive'.
Jason McCarthy expressed strong belief in the PJL's vision for a league committed to high ethical standards, meritocracy, and elite competition, supported by a sustainable commercial model. He sees significant potential for the sport to expand its global audience while preserving its core values.