39 day Mumbai Season kicks off on schedule on Sunday: Major reforms needed - By Vivek Jain
Posted on - 19 Nov 2016
39 day Mumbai Season kicks off on schedule on Sunday: Major reforms needed
By Vivek Jain
The much looked forward to Mumbai Racing season, considered the crown jewel of the racing seasons across India, kicks off on schedule on Sunday amidst great uncertainty after the demonetization ruling has taken the country by storm.
The Committee of the RWITC has taken a pragmatic stand to start racing, taking some unpopular decisions, which were inevitable. The cut back in stakes as an interim measure by 50% may be termed a financial force majeure. Our business is dependent 100% on cash, and you don’t have to be a mathematician to judge the impact of the new ruling on our finances. With the first of the Indian classics just three weeks away, the hopefuls had to be given a chance to have their trials. The business of racing came first.
After a string of meetings, the bookmakers have agreed to operate, but the Club has had to forgo 65% of the contracted stall fees, to start racing on time. This will be reviewed month end. It was imperative racing be held, in the interest of the owners and the fraternity as a whole, who have been impatiently waiting to see the thoroughbreds in full flight on the famous Mahalaxmi race track.
The Committee has taken the decision to source point of sale terminals to facilitate usage of credit and debit cards, which may take a week, and other innovate steps may become necessary as we navigate these turbulent head winds.
An all India representation to very quickly allow internet and telephone betting, a uniform common tax structure across all states to facilitate a national totalisator, and other regulatory reliefs, to bring the betting money into the system, is the crying need of the hour. All those connected with the sport, in whichever capacity, former Chairmen included, must rise as one, if racing has to survive this unprecedented challenge.
The one shining light at Mumbai, is our continued run in attracting the best and biggest to support our racing. To get over 9 crore in sponsorships, Including the hosting of India’s biggest race, The Indian Derby, a host of themed days, media and hospitality alliances, a new TV partner, evening racing, an endless list of CSR associations, is no easy task, but we have pulled it off, yet again.
Having taken over as Chairman just a few months ago, we are confronted with enormous and unprecedented challenges. But the RWITC Committee has kept politics aside, and is working as a well connected whole to take us out of this crisis.
IT HAS BEEN SAID, RUN IF YOU HAVE TO, WALK IF YOU CAN, CRAWL IF YOU MUST, BUT NEVER, EVER GIVE UP. This shall be our endeavour as our first race of the season is flagged off at 1.30pm, on Sunday, before a packed attendance, of what we expect, 10.000 Rotarians.
Good luck for happier times.
