T9 Ranch via website
Theorem Ranch earlier this month acquired Teton Ridge’s T9 Ranch and Equestrian Facility, a Western performance property in Parker County.
Terms of the transaction were not disclosed, though the property had been listed for $45 million.
Theorem Ranch, owned by Jason Itkin and Kisha Itkin, was represented by national land brokerages Fay Ranches and Republic Ranches. The Itkins will relocate their horse operation from Montana to Parker County, according to Bret Burford of Republic Ranches.
As owners of the $23.2 million sire Stevie Rey Von, the Itkins say the ranch will create new opportunities for longtime Western performance enthusiasts and new audiences alike. The property includes multiple indoor and outdoor performance arenas, extensive cattle-handling infrastructure, cutting-edge barns, and purpose-built spaces for conditioning, training, recovery, and spectator viewing — allowing fans to experience the sport up close while maintaining a horse-first environment.
“It’s essentially three horse facilities on one ranch,” Burford said. “The Itkins have diverse interests — cutting, reining, roping, barrel racing, and more. This ranch allows them to pursue multiple disciplines.”
Icon Global officially brought the T9 Ranch assets to market in September. The transaction and transfer to the Itkins via Theorem Ranch closed Jan. 8, according to a press release. Icon associate broker Don Bell led the sale. Teton Ridge is owned by TWG Global.
The new owners say they are committed to maximizing the ranch’s potential. “We believe this ranch will be a key component of our plan to help grow Western performance sports,” Kisha Itkin said. “The elite facilities will provide unique opportunities for horses, trainers, riders, and fans.”
The Itkins, who split time between Texas and Montana, view the acquisition as a natural extension of Theorem Ranch’s operations, noting the historic cattle drives between the two states that shaped ranching traditions and horsemanship that defined the American West.
Under Theorem’s ownership, T9 Ranch will operate as a performance institute focused on elite training, horsemanship development, and long-term equine welfare. Todd Bergen has been named general manager of Theorem Ranch Texas, with Corey Cushing — a three-time World’s Greatest Horseman champion — and NCHA Hall of Famer Craig Thompson, a two-time futurity champion, training outside horses at the facility. Additional details will be released in the coming months.
Stevie Rey Von, a son of Metallic Cat and out of Miss Ella Rey by Dual Rey, won the 2015 NCHA Futurity and the 2018 NCHA Super Stakes Open Classic, earning more than $420,000 in his show career. His progeny have earned more than $23 million, according to a press release.
Among them is Janie Wood, from his first foal crop, who won the NCHA Futurity in 2021. While his offspring have excelled in cutting and cow horse competition, his highest earner through September was in roping.
“The Itkins have already proved their passion and commitment to the Western equine sports industry is strongly rooted,” Bell said. “Parker County could not have found a better family to expand the efforts already underway on this iconic property.”