Businessman Raj Kundra has shared a surprising revelation about his past involvement with the Indian Premier League (IPL), disclosing that his substantial investment in the franchise Rajasthan Royals was essentially planned as a grand Valentine’s Day gift for his wife, Bollywood actress Shilpa Shetty. Speaking in a recent interview, Kundra reflected on his 2009 decision to purchase an 11.7 percent stake in the cricket team shortly after Rajasthan Royals won the inaugural IPL season. He explained that back then he did not possess any established business operations within India and viewed the franchise purchase as an ideal entry point to launch his commercial footprint in the country. Believing that Shilpa held immense brand value while he provided the financial backing, he invested approximately ₹81.9 crore to secure his share holding, claiming it was the largest single-cheque investment made by an individual investor in the IPL at that time.
Elaborating on the dramatic financial growth of the Indian Premier League over the years, Kundra pointed out that when he made his initial purchase, the total valuation of Rajasthan Royals stood at around ₹700 crore. Today, that same franchise is estimated to be valued at nearly ₹16,000 crore, reflecting the explosive commercial scaling of the tournament as a whole. He discussed how the revenue model transformed over time, noting that IPL teams made minimal profit during their first five to six years and often had to break even or rely on additional owner capital to sustain operations. In contrast, modern IPL franchises now generate massive annual profits ranging between ₹200 crore to ₹500 crore, driven largely by central broadcasting rights deals alongside team sponsorships and stadium ticket sales.
During the candid conversation, Kundra also addressed the betting controversy that eventually led to his exit from cricket administration. Following allegations of illegal betting in 2013, the Supreme Court-appointed Justice R.S. Lodha Committee handed him a lifetime suspension in 2015, while Rajasthan Royals faced a two-year ban from participating in the league. Maintaining his innocence, Kundra defended his past actions by describing the casual conversations that were misinterpreted as formal betting practices. He stated that he willingly stepped aside to shield the franchise, emphasizing that the legal matter remains sub judice before the Supreme Court as he continues to seek vindication.
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