Magic Millions and Coolmore combine for world's most valuable showjumping event

Coolmore Stud and Magic Millions are set to fund a A$1 million (£527,000/€632,000) showjumping event that will become the most valuable stand-alone competition in the world.

The huge success of the A$100,000 showjumping event that was launched on Magic Millions polo day at the Gold Coast last Sunday has now led to the injection of record-breaking prize-money for the same event next year.

The announcement follows calls from trainer Gary Portelli in a recent interview with ANZ Bloodstock News, in which the Golden Slipper-winning trainer called for prize-money investment in showjumping from the racing and breeding industries to help combat the issue of wastage in retired racehorses.

“Imagine Racing NSW putting up $100,000 in prize-money at the shows, then people would be more inspired to chase these horses up and get them out of the paddocks and target them for competitions, knowing they are not going to be beaten by a warmblood," Portelli said.

Magic Millions co-owner Kate Page has said that the timing of the event was perfect for young showjumpers looking to compete at the 2024 Paris Olympic Games.

Coolmore Australia principal Tom Magnier also said that every Pony Club in Australia was packed with talented riders that, with the new funding initiative, can now showcase their talents closer to home instead of being forced to head overseas to compete in major competitions.

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