What the show jumping pony having an obvious ball had? (5,5)

I believe the answer is:

clear round

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'what the show jumping pony having' is the definition.
I don't know anything about this answer so I cannot judge whether it can be defined by this definition.

'obvious ball had?' is the wordplay.
'obvious' becomes 'clear' (similar in meaning).
'ball' becomes 'roun' (I can't explain this - if you can you should give a lot more credence to this answer).
'clear'+'roun'+'d'='CLEAR ROUND'

'an' acts as a link.

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