The current market slump has failed to dampen the spirits of the new Pune racing season that takes off from July 16. The season promises yet another year of thrills, excitement, glitz and glamour. This time, the prize stakes are higher.
The gross advertised prize money for the 29-day season has gone up by 12% to Rs 6.88 crore for the season. And none of the corporate sponsors have backed out of the season this time. On the contrary, there have been some new additions from the corporate sector. In spite of the business downturn, the corporate sponsorships are on par with the last season at Rs 83 lakh, Dr Cyrus Poonawalla, chairman, Royal Western Turf Club (RWITC) said.
More than 1,000 thoroughbreds would be competing in over 250 races that would be held across the 29-day season that would end on October 25. ?The prize money is up. So is the betting. For the first time, the club has made a cash profit of Rs 5 crore after offsetting losses of Rs 2 crore that were given in the form of subsidies to horse owners towards the shortened Mumbai season,? Poonawalla said. Around 7-8 races would be run everyday and the first two days alone would see 19 races in all. Every weekend will feature a graded or sponsored race. Some of the first sponsors this year include Paranjape Constructions, Saarrthi, Casino Royale and Southern Paradise Stud.
?Thank God for the rains. Earlier there was a question mark on the start of the season because of the poor rains. Now the situation has been reversed. It has been difficult to sustain sponsorships in the current climate. But we have managed to pull it off,? Vivek Jain chairman of the Stewards and chairman, marketing and media working group, RWITC said.
Last year?s season was badly affected when over 1,400 horses were down with equine flu. The disease broke out sometime in October 2008 and the cycle continued till January this year. There was no relapse or death reported, Jain said.