- Raj Kundra bought Rajasthan Royals shares as Valentine’s gift for Shilpa.
- Franchise valuation soared from ₹700 crore to ₹16,000 crore.
- Kundra addressed betting controversy, team ban, and personal suspension.
Businessman Raj Kundra has revealed that his investment in IPL franchise Rajasthan Royals was intended as a Valentine’s Day gift for his wife, actor Shilpa Shetty. Speaking in a recent interview with SMTV, Kundra reflected on purchasing an 11.7 per cent stake in the franchise in 2009 for around Rs 81.9 crore, discussed the dramatic rise in the team’s valuation, and addressed the betting controversy that later led to his lifetime suspension from cricket-related activities.
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Raj Kundra Says Rajasthan Royals Was A Valentine’s Day Gift
During a conversation with YouTube channel SMTV, Raj Kundra shared that he invested in Rajasthan Royals shortly after the franchise won the inaugural IPL title in 2008. He said the decision was driven by both business ambitions and Shilpa Shetty’s public profile.
He said, “I bought it like a Valentine’s Day gift. I thought Shilpa had the brand value and I am putting in the money. I bought my stake then, but the case is still going on.”
From Rs 700 Crore To Rs 16,000 Crore Valuation
Reflecting on the franchise’s financial growth, Kundra said Rajasthan Royals was valued at around Rs 700 crore when he acquired his stake in 2009.
“When I bought it, the valuation of the team was Rs 700 crore, now the valuation is at Rs 16,000 cr. My share was 11.7 percent.”
He also described his investment as the biggest single-cheque investment in the IPL at that time.
“I was the first person who believed that this could go big.”
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Raj Kundra Addresses The Betting Controversy
Speaking about the controversy that followed, Kundra said he remained associated with Rajasthan Royals for five to six years before the betting allegations emerged.
“We were then accused of betting and betting is not allowed. Then the team was banned for two years. Some players were banned for fixing and as owners, we were banned for betting. What was that betting? It was like you and me sitting with each other. We would be like, ‘Lagi shart? (Want to bet?)’ That was the conversation. ‘Lagi 500 ki shart? (Want to bet for 500?)’. They said even that is not allowed. And we thought, you are banning us for this? The case is still sub judice with the Supreme Court.”
He also claimed that he was the only Rajasthan Royals owner held responsible in the matter.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
