Polo has never had a shortage of luxury names backing it, And the trend continues.
The high and mighty come to watch it. A polo event is more than a sporting one, it is a gathering of the who’s who of the social circuit, who come sporting designer clothes and driving swanky cars. With so much material wealth on display at a polo match, you do wonder if the game is overflowing with money. Well, certainly there’s no shortage of big names sponsoring the events. Take the Mumbai polo season. The Oberoi Polo Cup, held in August, had the Oberoi Group, British Airways and the Piramals sponsoring the event. Brands like Tag Heuer, Swarovski, Chivas Regal and Reid & Taylor have been associated with polo events.
But the economic slowdown saw big names shying away from the sport. According to Adhiraj Singh, managing director, Equisport, there was a time when over Rs 15 crore was being spent by corporates annually in sponsoring polo events. “The last two years have been difficult, but things are looking better.” In the last decade or so, polo has taken giant strides in attracting big names. Even international brands like Jaeger Le Coultre and Bvlgari spend a lot of money on the sport.
The polo season lasts seven months in various cities including Delhi, Mumbai, Hyderabad, Jaipur, Kolkata and Hyderabad. The Kolkata polo season, which gets underway in December, has the likes of the UB Group, Mercedes-Benz and ITC Hotels as sponsors. Corporates find it convenient, as it is one of the most premium lifestyle events in India, and they use it to showcase their brands. Traditionally, the game has been a perfect platform for luxury brands, and with more foreign brands coming in the scene should improve. For instance, Volkswagen is planning to sponsor polo events as well.
It is an expensive sport to sustain, says Singh. Well-bred horses, mainly from Australia and Argentina, cost between Rs 7 lakh and Rs 20 lakh. About three years ago, sponsorships for polo tournaments were in the range of about Rs 20 lakh. But today the figure is Rs 50 lakh and above. Add to that the money that needs to be paid to the polo players. “You need support from big names to keep the interest going,” says Singh.
For their part, the polo players do feel that, at times, money has been hard to come by. On average, a polo player takes home about Rs 50,000 from an event. According to Sameer Suhag, polo has become a viable career option, “but not a long one”. Suhag also feels that corporate support must continue if the sport wants to flourish. “It will never become a mass sport, but still the interest has to be there so that people are encouraged to take up the sport,” he adds.
According to the marketing head of a leading lifestyle brand, golf and polo are two sports which are keenly looked at. “We can’t be associated with a sport like cricket, as it is overcrowded and other sports don’t generate enough interest to pump money in,” he says. Harsh, but that’s the reality.
Last year, several big names backed out of polo events. ABN Amro and Emaar MGF were some of them. It was not only polo which was affected. Even golf suffered, though not to the same extent as polo, because the sustenance costs are lower. “We need to think about ground maintenance as well,” says a member of the Calcutta Polo Club.
As for the future of the game, Singh remains confident that sponsors will come. With luxury brands being launched every day, which like to o be associated with elite events, polo should do well.
Among Indian companies, the Oberoi Group has been most actively involved in promoting the game. Even the UB Group has been associated with the sport for some time. The Jindal Group has a team and has been developing the sport in its own way. Diageo has held the Johnnie Walker Cup for the last two years and look to continue their association with the sport.
The equine influenza also played a major role in quite a few events being cancelled last year. Add to that the cost of holding a polo event, which is close to Rs 15 lakh. Barring the mishaps of last two years, when money was difficult to find, it looks like the bad days for polo are a thing of the past. “Last year was a forgettable one for the sport, and we are hopeful that the new season will bring in a lot of cheer,” concludes Singh.
