The race, an all-India level event organised by the MCA under the aegis of the Cycling Federation of India, would be held as part of the 71st birthday celebrations of NCP chief Sharad Pawar, who has been the chief mentor of the cycle race for past several years, a media release said today.
The race, which could not be held on January 8 as per earlier plan due to "unavoidable reasons", offers a cash prize of Rs 1 lakh, up by Rs 35,000 from last year, to the winner, while the 'King of Ghat' title winner would receive Rs 31,000.
MCA has increased the prize money for all positional finishers following generous sponsorship from NCP, the release added.
The race would commence in north eastern Mumbai suburb of Chembur and conclude at Sambhaji Park on Jangali Maharaj Road in Pune.
"The race is restricted to men aged between 18 years and 35 years. Women and girls are not eligible for this cycle race," said MCA secretary Pratap Jadhav.
The runner-up will earn Rs 75,000 (up from Rs 55,000) and the third-place finisher Rs 51,000 (up from Rs 45,000).
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In addition, five consolation prizes of Rs 10,000 each for those who finish from seventh to 11th place and Rs 1,500 to each cyclists who crosses the finish line in 30 minutes after the winner, would be awarded.
Other prizes include 'Prime at Panvel', 'Prime at Khopoli', 'Prime at Kamshet' and 'King of Ghat'.
A total of Rs 6,14,000 will be given as prize money while the overall prize fund is of Rs 7,65,000 including the guarantee money to be paid to each participant from the entries received from Cycling Federation of India, State associations, member boards and the Sports Authority of India. PTI SSR ABC AH