The new way to arrive for Mumbai's rich and famous is to pay a sum that some say is as high as Rs 30 lakh for a 100 square-feet box that will let them watch the races in air-conditioned comfort. Unlike in the past, where this was a privilege of the chosen few, this year, all 7,500 members of the RWITC were allowed to bid. Hemal Ashar does the math
The new way to arrive for Mumbai's rich and famous is to pay a sum that some say is as high as Rs 30 lakh for a 100 square-feet box that will let them watch the races in air-conditioned comfort. Unlike in the past, where this was a privilege of the chosen few, this year, all 7,500 members of the RWITC were allowed to bid. Hemal Ashar does the mathThere are more than a few ways to 'arrive' at Mumbai's plush Mahalaxmi Racecourse. Literally, roll up in a Bentley or a Maybach. If that is too plebian, try a chopper that lands on the helipad at the defunct third enclosure.
Figuratively though, 'arriving' could mean muah-muahing with the city's rich, and after a recent development, even shop for the best seat from which to view splendid horseflesh.
For a while now, The Royal Western India Turf Club (RWITC), headquarters of racing in Western India, has auctioned air-conditioned boxes within the members' enclosure. But this year, the RWITC deviated from its usual course of handing them out to a select few.
This season, the process was far more egalitarian. A few months ago, the Club's 7,500 member base received a letter stating that the club had opened bidding for eight air-conditioned boxes (still to be constructed) on the second deck of the members' enclosure.
Jaydev Mody, RWITC committee member and horse owner at the
Johnnie Walker Gold Label Indian 2000 in 2009. Mody bid for and
won six air-conditioned boxes on the second deck. The RWITC refused to divulge details but sources say each of these air-conditioned enclosures, all four-seaters spanning 100 feet each, went for approximately Rs 30 lakh. The amount will be utilised for improving the club's infrastructure.
"The figures are confidential. There were eight boxes that opened for bidding. All sporting stadiums across the world, and in India, have air conditioned corporate boxes for private viewing, so why not the RWITC? All 7,500 members got a chance to bid. Each had an equal right to bid for a box," says RWITC chairman, Vivek Jain.
Vivek Jain, RWITC chairman, seen here with writer Shobhaa DeContrary to talk that a reserve price of Rs 20 lakh was charged per box, and bidders had to quote a sum higher than that, Jain said, "There was no reserve price. The allotment was left to the discretion of the Committee."
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Jain confirmed that the club received offers for boxes and from members who wished to contribute to the corpus of the Club for general purposes.
Race regulars know that the racecourse is the place where the policyu00a0 'if you've got it, you flaunt it' rules. Big money speaks everywhere, from style symbols that dot the racecourse (former RWITC chairman's Cyrus Poonawalla's stupendous Rolls Royce in the parking lot, is a frequent attention grabber) to those who put down big bucks at the betting windows.
Jain though, prefers to downplay the splurge. "I wouldn't call a box a status symbol. Most of them have been taken by members who are regulars and wish to have a private viewing in air-conditioned comfort."
Jaydev Mody, RWITC committee member who has bid and won six of the air-conditioned boxes on the second deck, said, "I bid for the boxes so that I could support the Club in funding for infrastructure. I, in fact, hardly get a chance to sit in a box since I am busy on race days."
Mody denied having paid Rs 30 lakh a box. Each box costed Rs 40,000, he said. "The rest of the money has gone toward the Club's Infrastructure Fund," clarified Mody, who is also a horse owner.
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In a curious case of contradiction, horse owner Haresh Mehta who has a box on the third deck, that was auctioned last year, said his eight-seater box cost him Rs 1 crore and Rs 25 lakh. "There were other boxes on the third deck, and they all went in the vicinity of Rs 1 crore."
Privacy is what draws bidders, Mehta believes, and for some "yes, it is a status symbol. But it's the air-conditioning that is particularly welcome in this climate."
Ad filmmaker Shiven Surendrenath, who according to sources bid and won a four-seater box on the second deck, feigned ignorance. "Have I won the bid for the box? That is news to me. I have no official confirmation from the club."
Surendrenath, who refused to reveal the amount he put down, said he decided in favour of a box after having sat in one in the previous seasons. "Given our weather, it is a big plus. More than a status symbol, it is about how you like to watch your racing. Would you like to be in the company of a few friends or with a larger crowd? It's a personal choice."
The old guard loves boxes
UB Group chairman Dr Vijay Mallya owns the world's no. 3 spirits
company. Seen here with actress Shilpa Shetty at the Mahalaxmi
RacecourseStud farm owner Cyrus Poonawalla who ranked 287 on The World's
Billionaires 2007 listWhat is a box?
Sporting stadiums across the world offer special, exclusive box seating. These are enclosures that cost more than regular seating at an event, and offer the best view. Shiven Surendrenath, bidder for a box at Mahalaxmi Racecourse says, "To me, the best box would be the one near the finishing post!" Most of these boxes are air-conditioned. They may be fitted with television sets for a better view of the action. They spell exclusivity and carry a snob value."
Wankhede to get exclusive boxes tooEleven spanking new boxes were sold to corporates for the India vs Australia day/night one-day international to be played on November 1, 2003.u00a0 Each of these 20-seater boxes were sold for a sum of Rs six lakh. These were located in the East stand (8) and the Guest stand (3). They were air-conditioned and fitted with a small fridge and television set.
An artist's image of what the corporate boxes at the renovated
Wankhede stadium, Churchgate will look likeAt the time, Ratnakar Shetty, joint secretary of the Mumbai Cricket Association (MCA), had said each box cost the MCA approximately Rs 2 lakh to create. Chemplast, Forbes and Videocon were among the firms that bought the boxes. Wankhede had old air-conditioned corporate boxes in other stands that were booked in 1974 by corporates for a duration of 50 years for as little as Rs 2 lakh.
Wankhede is currently under renovation, and the makeover plan includes corporate boxes.
How the proposal unfoldedThe RWITC sent a letter dated October 19, 2010 to its 7,500-member base to bid for eight air-conditioned boxes that were to be constructed.
(Above) A floor plan shows the location of the eight boxes (underlined
in pink), each approximately 100 sq ft large. One box can seat four
persons The letter said each offer should be accompanied by a good faith deposit of Rs 5 lakh for a box, which would be returned in case of unsuccessful offerors.u00a0u00a0
Some terms and conditions: >>The box is co-terminus with the Club's lease (the Club's lease needs to be renewed in 2013) by the BMC.
>>Catering facilities in the box on race days and inter-venue betting days would have to be arranged by the offeror at his/her own cost. The Club shall provide the air-conditioner and the Club shall paytheu00a0 electricity charges.
>>The amount offered and paid by the offeror will be a non-refundable amount, which shall be utilised towards improvement of the Club's infrastructure.
