PGF have just taken a huge step toward becoming a more professional organization, as they have just announced the first ever sale of a franchise team. It’s a moment that most Jiu-Jitsu fans would never have predicted really, as it’s something taken straight from the biggest sports in the world. In the NFL and NBA, and many more leagues beyond that, each team is actually owned by an external business or brand instead of the league itself. One of the biggest benefits of this kind of approach is that it demonstrates a great deal of faith in the league itself, as buying a team is a major long-term investment.
Previously, no Jiu-Jitsu promotions have managed to secure that kind of belief from other brands and the idea of selling a team hasn’t really been possible. Most Jiu-Jitsu promotions only have individual tournaments or matches anyway, but there are a few others with teams involved like Quintet and Polaris Squads. One of the main barriers to having franchise teams owned by external brands is the regularity of competition. With events like Quintet, they’re usually quite sporadic and that doesn’t tend to inspire confidence in investors. That’s where PGF have succeeded, as they’ve been able to put together regular seasons right from the start.
PGF teams have previously been sponsored by brands and while the other teams will remain this way for the moment, ‘New Hope Kings’ will now be owned wholly by New Hope Regeneration. In a press release, Co-founder Kevin Lucas is clearly thrilled with what is reportedly a seven-figure acquisition:
“We are beyond excited, and it is a dream come true to participate in professional sports history by partnering with PGF, and purchasing the world’s first professional Jiu-Jitsu franchise team, the New Hope Kings. PGF is what grappling should be, it’s real for the athletes and it’s built for the fans.”
The plans don’t stop there though and according to PGF founder Brandon McCaghren in a recent Reddit comment, this is just the first of many franchise sales:
“I will have the other 3 teams sold by the end of the calendar year, then we will expand to 8 teams.”
It’s no surprise that New Hope Regeneration have become the first to buy in to this model though, as the team are actually the reigning champions from last season. Given that PGF currently operates with 4 teams of 5 athletes each and McCaghren apparently plans to expand to 8 teams instead, it seems as though the rosters might be growing in the future too. Everything looks positive for PGF as they continue their mission to develop Jiu-Jitsu into a professional sport, and it’ll be interesting to see who else decides to purchase a franchise team moving forward.
