Shilpa joins IPL bandwagon

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shikhar agarwal

@Shikhoo

Inactive

Posted: 17 years ago

Bollywood actress Shilpa Shetty and her business partner Raj Kundra today bought a 12 per cent stake in the Indian Premier League team Rajasthan Royals, the inaugural champions of the Twenty20 event. Shetty and Kundra, a UK-based entrepreneur, are reportedly set to invest USD 15.4 million in the team, which is led by Australian spin legend Shane Warne and has international stars like South African skipper Graeme Smith and Aussie all-rounder Shane Watson in its fold.(Photo: PTI)

Shetty thus becomes the third Bollywood star after Shah Rukh Khan and Preity Zinta to buy a stake in IPL teams. While Shah Rukh owns Kolkata Knight Riders, Preity has a stake in Kings XI Punjab, the semi-finalists last year. (Photo: Getty images)

Shilpa termed it a strategic business investment and said: 'I completely relate to Rajasthan Royals. My story is similar to the team's journey to the top. It is an honour to be a part of Rajasthan Royals.' (Photo: PTI)

Shetty said she would have a role in the team's promotional activities this year. 'I will be promoting the team. Perhaps a music video will also come,' she quipped.(Photo: PTI)

Asked if the moved was aimed at getting more fame, Shilpa said: 'It is just a game and we should have our own fun. I am not in the run to get more fame. This was just Raj's business acumen.' (Photo: PTI)

'Whenever the team needs me I will always pitch in. I will be the moral support of my team. The team needed an Indian owner and so I am here, Shilpa said." Boyfriend Kundra added: 'The team's success story last year was an inspiration for me. That's why I am investing in this team. I believe that the addition of Shilpa Shetty creates a multitude of commercial opportunities - for sponsors, for merchandisers and for ancillary development opportunities.' (Photo: PTI)

IPL chairman and comissioner Lalit Modi said that the investment has proved that the league is still the best place to get returns in a time of global economic crisis. 'The 11.7 per cent stake which has been acquired by Shilpa and Raj places the overall valuation of the Rajasthan Royals at nearly $140 million, which translates into an astronomical figure of 3,733 per cent capital appreciation for Emerging Media. In my view, this is probably the highest appreciation for any franchise in the history of modern day sports,' he said. (Photo: Getty images)

Rajasthan Royals led by the maverick Shane Warne surprised everyone last year by winning the inaugural edition of the tournament ahead of teams that had big stars in their kitty. (Photo: Getty images)