Rupee swings hurt golf

India

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Shaili Chopra writes a regular column for the DNA. Her golf columns are reproduced here.

 

It’s not one of those things you expect to happen to sport. Almost never to cricket. Or golf. But India’s economic earthquake over the last six months has put marketing minds through a test on ‘monied’ sport. Sporting events have come under sponsorship duress as funds dry up. Worse, a sliding rupee has meant paying nearly 20% more for sponsoring the same event compared with last year.

 

The rupee’s volatility has put a spanner in the golf swing by pushing out some of the country’s top golf tournaments – Avantha Masters and Kensville European Challenge.

 

Avantha Group, run by industralist Gautam Thapar (pictured), has operations in Europe, particularly in the power sector. Adopting Avantha Masters as a EuropeanTour event meant pitching it as a global platform for their brand.

 

But now, with a slow European economy, a poor investment climate back home and an adverse rupee, pulling out of the tournament appears to be the most prudent move for Avantha.

 

Gautam Thapar’s interest in golf notwithstanding, for Avantha to carry on a €1.8 million event with IMG would have been difficult to justify business sense or expense. From a pure golf perspective, the event in February-March also often clashed with other prestigious international tournaments on the European Tour, urging players to make tough choices, and giving Avantha another reason to pull out.

 

Given the current economic conditions, the group has “not renewed its contract with the European Tour”, said Avantha in a statement. Panasonic and Kensville from Gujarat are two other firms that have ditched their golf-associated events.

 

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