BENGALURU: Gone are the days when the Maharajas, nawabs and big industrialists were principal owners of many racing horses and dominated the sport. Now it is partnerships and syndicate owners. And this has given a new dimension to the sport of kings.
It is not that the solo or a single owners have vanished from the horse racing scene, but they now are in minority while most horses bought are in partnerships and 5-10 member syndicates, which make it easier for the owners who are passionate about the sport.
Zeyn Mirza, managing director of the Kunigal Stud Farm, where the legendary Mysore king Tipu Sultan used to breed horses for his cavalry during the British invasion, disclosed that racehorses cost a lot of money and people are happy buying the stock in partnership.
Top breeders like Kunigal Farm, Usha and Poonawalla, who used to sell their stock at huge prices, are now finding it difficult to sell in one go due to a fall in the number of single owners in the GST regime.
THE Aggarwal brothers, Rajan and Gautham, who together own 40 horses in the city, pointed out that GST has thrown a spanner in the works and most racing clubs and racing buffs are finding it difficult to invest in the game as it is no more a winning proposition. But the fact that all premier clubs have so far managed to conduct and draw railbirds to the game is because of the new trend in ownership which is keeping the sport alive.
“To pick a reasonably good horse, it costs about Rs 15 lakh and the monthly maintenance of the animal, feed, stable and medicines cost Rs 30,000. So, if four people come together and buy, it works out to Rs 7,500 per month each after paying 3.75 lakh for the purchase and this is affordable. This is new the trend and it has helped the sport grow taking into account that more owners are coming into the game,” said Zeyn. He, however, added that 28 per cent GST has hit the sport hard, and horse owners are shying away from making big investments in the game.
“A good number of small owners are registering ownerships and that’s a good sign. But what the sport needs is a reduction in the GST slab and we have approached the GST council. Hopefully, it will happen and then the princely buyers will be back in the game,” said Vinod Sivappa, chairman of the Bangalore Turf Club. One of the top individual owners, Aditya Thackersey, who has more than 30 horses in Bengaluru and Hyderabad, said that it is the passion for the sport that keeps them going.
“No big owner is really looking to make money from the game. With the high costs to procure a horse and monthly maintenance, it becomes really difficult for a single owner to keep more than 10-15 horses in training. But it is the love for the animals and the passion for the game which keeps us going and also the ‘kick’ an owner gets when his horses win the big Derby,” said Aditya, whose horse Consigliori won the Deccan Derby in Hyderabad.
“In the past, it was only a few big owners who invested in the game. Now, many small owners are finding it affordable to buy a horse in partnership and share the stabling, feeding and training cost. Small owners now understand that in partnerships, they can pick up the best and it is no more a sport of only kings,” said Aditya. “The cost of buying a horse has gone up enormously. The maintenance too has increased. Racing clubs have reduced the winning stakes and the chances of good returns are slimmer,” said Sharath Reddy, a horse owner. With the corporate world too making an entry, racing is getting back on even keel.