The Premier Jumping League, the equestrian competition founded by former Los Angeles Dodgers owner Frank McCourt, has sold its first franchise for $50 million, the league announced on Monday.
The team, which will be called the McCarthy Jumping Team, was purchased by Jason McCarthy. McCarthy, an MIT graduate and an alumnus of quantitative trading firm Jane Street, founded his own investment company, Five Rings Capital. He also drives in the North American division of the Ferrari Challenge, a professional and amateur racing series.
The outsized price tag is an outlier among startup and early-stage leagues, especially considering the Premier Jumping League hasn’t begun competition yet.
SailGP franchises sold for between $5 million and $10 million in the racing series’ first two seasons on the water in 2019 and 2021. That price jumped to $35 million two years later when Marc Lasry’s Avenue Sports Fund led a group that purchased the U.S. team. American businessman Doug DeVos and other investors bought the Danish team, Rockwool Racing for $60 million in 2025.
In the three-year-old Pro Padel League, the New York Atlantics raised funding at a more than $10 million valuation in 2025. Pharmaceuticals billionaire Patrick Soon-Shiong spent between $15 million and $20 million earlier this year to purchase a Los Angeles-based expansion franchise in Major League Volleyball, which is in the first year of a reboot after announcing a merger with the Pro Volleyball Federation in August.
