Chairman Mr.Khushroo N. Dhunjibhoy's note to WIRHOA on increase in stakes and concessions given to Owners
Posted on - 01 Aug 2013
I am pleased to inform you that the Committee of the Club at its meeting held on 30th July 2013 has decided to increase Stakes as under, with immediate effect:-
|
Class
|
Present Stakes (Rs.)
|
Increased Stakes with
immediate effect (Rs.)
|
|
I
|
3,30,000/-
|
4,00,000/-
|
|
II
|
2,95,000/-
|
3,65,000/-
|
|
III
|
2,60,000/-
|
3,20,000/-
|
|
IV
|
2,25,000/-
|
2,85,000/-
|
|
V
|
1,90,000/-
|
2,50,000/-
|
|
2/3 yrs
|
3,30,000/-
|
4,00,000/-
|
It has also been decided, that the performance linked incentive will be reduced from 50% to 30% of the total advertised amount payable to Owners, Trainers and Jockeys. This will be, as usual, for horses finishing first, second, third and fourth during the Pune Meeting 2013. This will be payable only for non-sponsored races where the total stakes do not exceed Rs.4.00 lacs. These incentives are only for Western India based horses and not for outstation horses.
It may be noted that the total increase in Stakes given during the last Mumbai Racing Season and the increase given on 30th July 2013, amounts to Rs.7.18 crores per annum.
Further, the Committee has also decided to give the following concessions to Owners:-
Approx. benefit to
Owners p.a.
· Entry fees to be charged only to non-runners Rs.62 lacs
(refund of entry fees to runners).
· Water charges will not be billed to trainers/owners. Rs.34 lacs
· Electricity charges will not be billed upto a limit of
Rs.400/- per horse per month. Rs.63 lacs
The above-mentioned concessions are given to Owners in addition to the subsidy of Rs.1,000/- per horse per month amounting to approximately Rs.1.66 crores per year.
This amounts to a total benefit of Rs.10.43 crores, to Western India Owners.
Khushroo N. Dhunjibhoy
Chairman,
Royal Western India Turf Club, Ltd.
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