Mallya pays top dollar for race horse ‘Air Support’

Vijay Mallya, who started owning race horses at the age of 21, is among India's top three horse owners and breeders along with the Poonawalla family and M A M Ramaswamy, founder of the Chettinad Group of companies.

The author has posted comments on this articleTNN | Feb 28, 2014, 03.40AM IST

BANGALORE: Vijay Mallya is getting Air Support for several crores of rupees. But this is nothing to do with his grounded Kingfisher Airlines. The UB Group chairman is paying top dollar for an imported stallion to strengthen his hold in India's multi-million dollar racing circuit.

Mallya, who started owning race horses at the age of 21, is among India's top three horse owners and breeders along with the Poonawalla family and M A M Ramaswamy, founder of the Chettinad Group of companies.

The six-year-old Air Support, after being in quarantine in Chennai for 60 days, will add to a list of imported stallions bought to breed racehorses at the historic 450-acre Kunigal stud farm, which Mallya took over in 1992.

Located on the outskirts of Bangalore — the headquarters of the UB Group — the stud farm is said to have started breeding horses 250 years ago, during the reign of Tipu Sultan.

Sources told TOI that Mallya paid over Rs 4 crore for Air Support, but Zeyn Mirza, MD of United Racing and Bloodstock Breeders — the company that looks after Mallya's interests in racing and breeding — said it was significantly less. If the price is indeed over Rs 4 crore, it could be among the highest paid by Bangalore's top breeders. Air Support is the winner of five races, including the Virginia Derby.

Mirza said that the Kunigal Stud Farm was in need of a new stallion for breeding racehorses. The stud farm has around 100 mares and Air Support will start to cover (mate) with 60 of them this year. There are an estimated 20 stallions in India, all used for breeding racehorses. Stallions are among the best racehorses that have now stopped racing and are used for breeding.

A couple of weeks ago, Mallya set another benchmark in the IPL 7 player auctions, forking out a whopping Rs 14 crore, or over $2 million, to get Yuvraj Singh into his Bangalore Royal Challengers team. While most of Mallya's sporting ventures are majority-owned by the UB Group, Mallya in his personal capacity holds around 98% stake in United Racing and Bloodstock Breeders.

March 31, 2013. In the same period though, the company reported a loss of Rs 14 lakh as against a loss of Rs 35 lakh in the previous fiscal. However, Mirza said the company was currently a profitable entity.

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