Cinema VinesRaj Kundra, the businessman behind the Bollywood star Shilpa Shetty, revealed in a recent interview that he bought a majority stake in the Rajasthan Royals IPL franchise as a Valentine’s Day gift for his wife in 2009. He told the YouTube channel SMTV that the team was worth roughly ₹700 crore when he invested, and that he paid about ₹81.9 crore for his share. “I bought it like a Valentine’s Day gift,” he said, adding that he believed Shilpa’s brand value would help the team thrive.
Since then, the Royals’ valuation has surged to an estimated ₹16,000 crore, according to Kundra. He noted that the franchise’s fortunes have improved dramatically as the IPL’s financial model has evolved. Today, he estimates that around 70 percent of a team’s revenue comes from broadcasting rights, with jersey sponsorships and ticket sales each contributing 10‑15 percent. He claims that every IPL club now turns a yearly profit of ₹200‑500 crore.
Despite the upside, Kundra’s tenure has not been without controversy. In 2013 he was implicated in an illegal betting scandal that led to a Supreme Court‑appointed Lodha Committee investigation. The committee’s findings resulted in a lifetime ban for him from all cricket‑related activities in 2015, and the Rajasthan Royals were suspended from the league for the 2016 and 2017 seasons. Kundra said he had been with the team for five to six years before the accusations surfaced, and that he was the only owner held accountable in the case. He described the betting allegations as informal bets made between him and a partner, stating, “We would be like, ‘Lagi shart?’, ‘Lagi 500 ki shart?’” and that the case remains under judicial review.
In reflecting on the early years of the IPL, Kundra observed that owners did not see significant profits in the first five to six seasons. Teams either broke even or had to inject additional capital to stay afloat. He believes the league’s growth and the influx of revenue streams have now transformed the financial outlook for franchise owners.
