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Our Bureau

Pune, July 19

The United Breweries Group has raised the ante hugely to retain its 25-year-old sponsorship of the Indian Derby and has committed Rs 15 crore over a five-year period beginning 2008 for the purpose. Part of this amount will go towards improving the facilities and infrastructure at the Royal Western India Turf Club (RWITC) in Mumbai and Pune.

The liquor company signed a contract to this effect with the RWITC a couple of months ago and paid up an advance of Rs 2 crore as guarantee, Mr Vivek Jain, Club’s Chairman, marketing and media working group revealed.

As per the terms of the agreement, the amount will be disbursed in phases, but will not fully go towards raising the prize money at the most prestigious event of the Indian racing calendar. “The RWITC will retain 40 per cent of the grant. This will be used to upgrade facilities and the infrastructure at the Pune and Mumbai turf clubs,” Mr Jain said. He added that the total prize money would be Rs 2 crore in the 2008 season and be raised to Rs 4 crore by 2012. The sponsor would undertake additional costs of promoting and advertising the event.

The agreement draws the curtain on a spirited battle for the Indian Derby between multinational spirits company Diegeo and Dr Vijay Mallya’s UB Group after the event was thrown open for bidding. Diegeo had put in a bid of Rs Rs 1.5 crore, sharply raising UB’s existing sponsorship of Rs 60 lakh earlier this year.

Meanwhile, Mr Jain announced that the Pune racing season would kick off on July 26, earlier than usual, and offer 30 per cent higher prize money.

“Racing will be on 29 days instead of the usual 26, while the total advertised prize money is Rs 5.4 crore,” he said. He added that the RWITC had also tightened the norms for participation by outstation horses to encourage the Western India owner.

More Stories on : Promotions & Offers | Sports | Breweries

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