The first Premier Jumping League (PJL) team has been sold to Jason McCarthy for $50m (£37.7m) in what organisers describe as a “powerful endorsement of the PJL’s vision and the future potential of jumping”.
Trader, investor, and competitive racing driver Mr McCarthy said he is a firm believer in the vision of the PJL.
“The milestone investment represents an unprecedented valuation for a team in a newly established sports competition and underscores the confidence that sophisticated investors are placing in the PJL,” a spokesperson for the league said.
New PJL team owner Jason McCarthy is the founder and manager of a trading firm, and owns equestrian properties in New York and Florida. His daughter Natalia is a showjumping rider who hopes to compete at the top level.
“Like Frank McCourt, our family’s journey into this sport began with my wife, Newsha, whose lifelong love of horses first introduced us to the equestrian world,” Mr McCarthy said.
“Through her passion, we became fans of jumping and developed a deep appreciation for the extraordinary partnership between horse and rider.
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We believe strongly in the PJL’s vision – a league committed to the highest ethical standards, meritocracy, and elite competition, underpinned by a sustainable commercial model that attracts the world’s best riders and delivers fan experiences on par with the greatest global sporting competitions.
“We see enormous potential for the sport to grow its global audience while remaining true to the values that make it so special. We are confident the PJL will help realise that potential and drive meaningful growth for the sport we have come to love.”
Mr McCourt said: “This investment is a powerful endorsement of the PJL’s vision and the future potential of jumping. From the outset, our ambition has been to attract new capital and new growth opportunities to the sport. Jason and his family embody the values and ethos we aim to uphold within the league, and we are delighted to welcome McCarthy Jumping Team as the PJL’s first ownership group.”
Riders are due to be selected for the PJL teams in November, via a “multi-layered rider selection process where only the top 250 ranked riders are eligible”, a PJL spokesperson told H&H.
Eleanor is an experienced journalist who spent over eight years working for local and national newspapers before joining H&H as news editor in March 2016. Passionate about equine welfare and exposing the truth, Eleanor has reported on all aspects of the industry, from Brexit to anti-bullying campaigns, and from dressage rules to mules. Her sport of choice is showjumping, in which she competes her own horses, and she also enjoys reporting at local jumping shows through to international championships.
