The 24-year-old states that there has been a scramble for horses before the equestrian events at next year's Games, and that more is still to come.

"I think in the next few months before December 31 you'll see a lot of transfers of horses for a lot of riders because that’s a cutoff for the Olympics," said Charles, whose father Peter won team gold at London 2012, as quoted by Reuters.

"A lot of people are trying to acquire the horse they need for next year.

"Luckily I'm in a pretty good condition at the minute.

"They’re buying pretty much anything that comes available.

"It makes it a bit harder for the rest of us but they also put more money back into the sport so it's the way the world works.

"It can make it a bit difficult but sometimes you’ve got to look under the top shelf and then you can find some unpolished diamonds which is what makes it fun."

Charles, the world's number-one ranked under 25 showjumper, competed at the individual and team events at Tokyo 2020. 

He is set to do the same again in the French capital with the jumping events scheduled to take place from August 2 to 6 at the Palace of Versailles.

One of the most sought after British mares, Equine America Spacecake, was sold to the Saudi Equestrian Federation at the end of last year which helped the country to qualify for Paris 2024 with Khaled Almobty in the saddle.

"The offers were getting bigger and bigger until it just became impossible to turn down," previous rider Ellen Whitaker said, as reported by Horse & Hound.

Saudi Arabia has only won four Olympic medals, with two of them coming in show jumping.

Khaled Al Eid won individual bronze at Sydney 2000 before Ramzty Al Duhami, Abdullah Al Saud, Kamal Bahamdan, and Abdullah Sharbatly finished third in the London 2012 team final.