Raj Kundra has revealed that his investment in the Indian Premier League (IPL) franchise Rajasthan Royals in 2009 was intended as a special Valentine’s Day gift for his wife, actor Shilpa Shetty. Speaking in a recent interview with the YouTube channel SMTV, Kundra recalled purchasing an 11.7 percent stake in the franchise for nearly Rs.82 crore shortly after the team won the inaugural IPL season.

Raj Kundra reveals Rs.82 crore Rajasthan Royals investment was a Valentine's Day gift for Shilpa Shetty

Raj Kundra reveals Rs.82 crore Rajasthan Royals investment was a Valentine’s Day gift for Shilpa Shetty

Sharing the reason behind the investment, Kundra 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.” According to him, Rajasthan Royals was valued at around Rs.700 crore when he invested, while its valuation has now climbed to nearly Rs.16,000 crore. Reports from that period stated that he invested approximately Rs.81.9 crore to acquire his stake in the franchise.

Kundra also reflected on the controversy that later surrounded Rajasthan Royals. In 2013, he faced allegations of illegal betting during the IPL, following which the Supreme Court-appointed Justice Lodha Committee imposed a lifetime ban on him from all cricket-related activities in 2015. The franchise itself was suspended from the tournament for the 2016 and 2017 seasons.

Addressing the incident, Kundra maintained that he had been associated with the franchise for five to six years before the allegations surfaced. He said, “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?’ That was the conversation. ‘Lagi 500 ki shart?.’ 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.”

Kundra further claimed that he was the only Rajasthan Royals owner held responsible in the matter. Speaking about the league’s business model, he noted that IPL franchises did not generate significant profits during the initial years and often had to reinvest funds to sustain operations. However, he said the financial landscape has changed considerably over time, with broadcasting rights now contributing nearly 70 percent of franchise revenues, while sponsorships and ticket sales account for the remaining share. According to Kundra, IPL teams currently earn annual profits ranging from Rs.200 crore to Rs.500 crore.

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