The National Thoroughbred League

What The National Thoroughbred League does

The National Thoroughbred League (NTL) operates the first team-based professional horse racing circuit in the United States, founded in 2023 by Randall Lane and Bob Daugherty and headquartered in Las Vegas, with a secondary legal address in Dallas. The league organizes ten city-based franchises — including the Miami Thunderbolts, New York Knights, Maryland Colts, Cleveland Rock'N'Racers, California Shamrocks, Philadelphia Stallions, Tennessee Studs, New Jersey Royals, Phoenix Mustangs, and St. Louis Nellies — that compete across a multi-event season of three-race weekends held at established racetracks (Laurel Park, Parx, Fairmount Park, and Nashville venues). Each event blends high-stakes thoroughbred racing with entertainment programming (music, fashion, celebrity appearances, VIP experiences) to position the format closer to a music festival than a traditional race day. The proprietary NTL Point System awards differentiated points across Race 1, Race 2, and Race 3 (with a 1.25x multiplier for Race 3 and bonus points for top-5 combined performers), accumulating toward season standings and culminating in the NTL Championship Weekend. The league operates a closed talent system compliant with the Horseracing Integrity and Safety Act (HISA) and partners with the Thoroughbred Aftercare Alliance for retired horses, addressing industry welfare concerns as a core brand pillar.

NTL generates revenue through six distinct streams: ticket sales for event admission, corporate sponsorship (title sponsors like Pappy & Company for the Nashville Cup and brand partners like Cadillac and Luc Belaire France), broadcast and media rights, direct-to-consumer merchandise sales via Sticker Mule, franchise sales (validated at $1M for the Miami franchise), and betting handle commission from the racetrack gambling ecosystem. Celebrity ownership (Lamar Jackson, Nelly, Julius Erving, Tanya Tucker) functions as both marketing inventory and customer acquisition channel, driving earned media coverage and social media engagement across Twitter, Instagram, LinkedIn, Facebook, and TikTok. The league is entering its fourth season in 2026, having grown from 4 to 6 scheduled events and from 6 to 10 teams since launch, with first permanent CEO Mike Monroe appointed in February 2026 to lead institutional scaling.

Name

The National Thoroughbred League

Legal name

National Thoroughbred League, LLC

Website

https://ntl.racing

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

The National Thoroughbred League (NTL) operates the first team-based professional horse racing circuit in the U.S., running city-franchised competitions across major racetracks with celebrity owners (Lamar Jackson, Nelly, Julius Erving) and entertainment-focused events targeting both racing fans and casual sports audiences.

Ownership category

akta.pro rank

Product category

Professional Sports League / Sports Entertainment

NAICS

Sports Teams and Clubs (711211), Racetracks (711212)

SIC

Services-Racing, Including Track Operation (7948), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Equestrian Teams & Stables (Racing/Show Jumping/Eventing) (MPAKABAG)

akta.pro secondary industries

Racetrack & Race Meeting Operations (MPAEADAA), Racehorse Ownership, Syndication & Investment Platforms (MPAEADAG)

Keywords

• Professional horse racing
• Team-based racing
• Sports entertainment league
• Thoroughbred racing events
• Horse racing franchises

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Ticket Sales: Direct consumer ticket sales for event admission, with VIP experiences and packages offered to fans attending race weekends at tracks like Laurel Park, Parx, and Fairmount Park.
2. Sponsorship: Corporate sponsorship deals including title sponsors (Pappy & Company for Nashville Cup), brand partners (Cadillac, Luc Belaire France, Good Trouble, MosHine, Old Smoke), and team-level sponsorship opportunities.
3. Broadcast Rights: Media and broadcast rights for covering race events, positioning content across sports entertainment platforms.
4. Merchandise Sales: Official merchandise store selling team-branded items directly to fans, powered by Sticker Mule platform, offering team jerseys, apparel, and collectibles.
5. Franchise Sales: Sale of city-based team franchises to investors and celebrity owners, with Miami franchise sold for $1 million. Teams compete under league ownership of horses.
6. Betting Handle Commission: Gambling revenue stream from betting handle generated at events, with Parx Father's Day event generating $1.55 million handle (65% increase YoY). Leverages existing horse racing gambling ecosystem.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

The National Thoroughbred League (NTL) operates a team-based professional horse racing circuit featuring ten city-based franchises that compete across a multi-event season. Each NTL Cup weekend features three high-stakes races (six furlongs to one mile, dirt and turf) with all teams entering one horse per race, combined with entertainment programming including celebrity appearances, music, fashion, and VIP hospitality. The league sells tickets, merchandise, sponsorships, broadcast rights, and individual team franchises while also earning commissions from the betting handle generated at events.

Product overview

The National Thoroughbred League (NTL) is a team-based professional horse racing circuit launched in 2023, offering a single unified product: live racing events combined with entertainment experiences. The core offering consists of NTL Team-Based Horse Racing Events featuring ten city-based franchises (Miami Thunderbolts, New York Knights, Maryland Colts, Cleveland Rock'N'Racers, California Shamrocks, Philadelphia Stallions, Tennessee Studs, New Jersey Royals, Phoenix Mustangs, and St. Louis Nellies) competing across multiple race weekends per season. Each event combines three high-stakes races with entertainment elements including music, fashion, celebrity appearances, and fan engagement activities. The product portfolio includes the core NTL Team Franchises competition, the NTL Championship Weekend season finale, NTL Fan Experience entertainment events, plus add-on services including NTL Merchandise Store (via Sticker Mule), NTL Trading Cards (via Leaf Trading Cards), The Inside Track newsletter subscription, and NTL VIP Tickets premium packages.

Differentiator

Problem solved

Functional benefit

Products and services

• NTL Team-Based Horse Racing Events NTL's flagship offering: multi-event professional horse racing season featuring ten city-based teams (Miami Thunderbolts, New York Knights, Maryland Colts, Cleveland Rock'N'Racers, California Shamrocks, Philadelphia Stallions, Tennessee Studs, New Jersey Royals, Phoenix Mustangs, St. Louis Nellies) competing across a season with points-based standings leading to a championship. Each Cup weekend features three high-stakes races combined with entertainment programming for fans attending at racetracks nationwide.
• NTL Championship Weekend Season-ending championship race weekend where the team with the most accumulated season points claims the NTL Championship title, serving as the climactic finale of each annual season.
• NTL Team Franchises Sellable city-based racing team ownership packages, including horse roster and racing rights, purchased by investors, athletes, and celebrity owners. Each franchise represents a city (e.g., Maryland Colts owned by Lamar Jackson, Philadelphia Stallions co-owned by Julius Erving, Nashville Dreams with Tanya Tucker). Miami franchise sold for $1 million to a Goldman Sachs advisor-led group.
• NTL Fan Experience (Event Hospitality) Event-day hospitality and entertainment experience including live racing, music performances, fashion, celebrity appearances, VIP lounges, family activities, and interactive fan zones across each NTL Cup weekend.
• NTL Merchandise Store Official team-branded merchandise storefront (jerseys, apparel, and collectibles) operated on Sticker Mule's platform, sold directly to fans of the ten city-based NTL teams.
• NTL Trading Cards Collectible trading cards produced in partnership with Leaf Trading Cards, featuring NTL horses, jockeys, owners, and uniform swatches, marketed to collectors and horse racing fans.
• The Inside Track Newsletter Free monthly email newsletter delivering insider updates, premier event access, lifestyle stories, and team content to subscribers of the NTL fan community.
• NTL VIP Tickets Premium ticket packages offering VIP access, hospitality, and elevated fan experiences at NTL Cup race weekends at host tracks including Laurel Park, Parx, Fairmount Park, and Nashville venues.

Quantifiable outcome

• 65% increase in betting handle year-over-year at Philadelphia Cup event
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and flagship.

• Leaf Trading CardscoreStrategic or Co-development Partner · 20 November 2024Partnership to create the first horse racing trading cards featuring horses, jockeys, owners, and uniform swatches. Planned spring release to engage collectors and fans with collectible products.
• Pappy & CompanyflagshipGTM or Marketing Partner · 8 August 2024Title sponsor for the Nashville Cup 'Million-Dollar Weekend' Labor Day season kickoff event featuring over $1.8M in purses across 5 races. Flagship sponsorship relationship for major season event.
• CadillaccoreGTM or Marketing PartnerLuxury automotive brand partner visible on NTL website partner section, representing high-end brand association for the league's entertainment positioning.
• Luc Belaire FrancecoreGTM or Marketing PartnerSparkling wine brand partner featured in NTL partner ecosystem, aligning with premium lifestyle and celebration positioning of race events.
• Thoroughbred Aftercare AlliancecoreStrategic or Co-development PartnerPartnership ensuring retired horses find new homes, supporting NTL's horse welfare commitment and responsible ownership messaging.
• Sticker MulecoreTechnology or IntegrationPlatform partnership powering NTL's official merchandise store, enabling direct-to-consumer sales of team-branded merchandise and collectibles.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Premier Lacrosse League (PLL): Tour-based, city-based team sports league that has built audience through star players and event-based entertainment. Closely comparable as an alternative-sports league employing a similar celebrity/talent-driven, city-franchise, traveling-event format.
• Formula 1: Global motorsport series that has successfully repositioned itself as a premium entertainment property. Comparable as a team-based racing league NTL explicitly benchmarks itself against (positioning itself as "the F1 of thoroughbred racing").
• NASCAR: Premier U.S. motorsport league with a team-based, season-long points competition and similar entertainment-driven event format. Closest comparable business model to NTL's team-based racing league structure, albeit with cars rather than horses.
• Major League Rugby (MLR): U.S. team-based professional rugby league with city-based franchises competing in a multi-event season. Comparable as another alternative sports league using a city-franchise model to grow a niche sport's audience in North America.

Broad incumbents

• New York Racing Association (NYRA): Operates Belmont Park, Saratoga, and Aqueduct racetracks. Comparable as a horse racing operator and racing-association governance body relevant to NTL's league-format competition.
• Churchill Downs Incorporated: Operates the Kentucky Derby and a portfolio of racetracks across the U.S. Largest horse racing operator; comparable as the dominant incumbent NTL is attempting to differentiate against through its team-based format.
• The Stronach Group (1/ST RACING): Owns and operates major racetracks including Santa Anita, Gulfstream Park, and Pimlico. Comparable as a racetrack operator where NTL stages some of its events and as a broader horse racing industry participant.

Regional players

• Keeneland Association: Lexington, Kentucky-based thoroughbred racetrack and sales company. Comparable as a traditional horse racing venue operator in the same industry, though it does not adopt NTL's team-based format.

Others

• DraftKings: Major U.S. sports betting operator. Comparable as a participant in the betting-handle ecosystem that NTL relies on for revenue, and a potential distribution or media partner for NTL events.
• Leaf Trading Cards: Trading card manufacturer and NTL's announced partner for the first horse racing trading cards. Comparable as an adjacent collectibles and merchandising partner that monetizes fan engagement beyond live events.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ntlracing
• YouTubeyoutube.com/watch?v=WlobIQgNGDw
• Facebookfacebook.com/theNTLRacing
• LinkedInlinkedin.com/company/the-national-thoroughbred-league
• Instagraminstagram.com/ntlracing
• TikToktiktok.com/@ntlracing

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The National Thoroughbred League