RWITC hopeful that derby will continue to have UB backing

Vijay Mallya's $75-million deal with United Spirits Limited also ended the company's sponsorship contract with the Indian derby. While Mallya managed to finagle a United Breweries sponsorship for it instead, his current financial situation has tossed it up in the air again.

"Our agreement was with the respective companies. We were talking to the boards, not Mr Mallya personally," says Vivek Jain, chairman, marketing and media working group, RWITC. "We have not heard back from them at all yet."

With the end of the alliance, USL reportedly gave the derby 50 per cent of the contract value for two years, and permitted RWITC to take on UB as a co-sponsor.

"I don't suppose it will change. But the derby just got over and we are a year away from the next one, so we'll know," says Jain. The Indian derby was held on February 7 this year at Mumbai's Mahalaxmi Race Course.

Also read: Kingfisher saga: How banks can still recover Rs 9,000 crore from Vijay Mallya