IPL welcomes Shilpa Shetty and Raj Kundra into the fold

Shilpa Shetty and Raj Kundra into the fold: IPL Welcomes

Tuesday 03, February 2009

The Indian Premier League today, welcomed into its fold Bollywood actress Shilpa Shetty and Dubai based businessman Raj Kundra. The duo has picked up an 11.7 per cent stake in the Rajasthan Royals franchise that won the inaugural 2008 season of the DLF Indian Premier League.

Commenting on this new development, Mr. Lalit Modi, Chairman & Commissioner, DLF Indian Premier League today said, “I am extremely happy to welcome Shilpa and Raj into the IPL family and I am even more thrilled that the Indian Premier League has proved once again that it is a prudent investment opportunity even in these unprecedented times of global economic crises.

Mr. Modi further added, “The 11.7 per cent stake which has been acquired by Shilpa and Raj places the overall valuation of the Rajasthan Royals at nearly US $ 140 million, which translates into an astronomical figure of 3733% capital appreciation for Emerging Media. In my view this is probably the highest appreciation for any franchise, in the history of modern day sports. The Indian Premier League is thus emerging as an investment destination of choice in the present economic environs and am certain will also set a very positive trend for our other franchises to unlock value of their own teams.”

The 2009 player auction will take place in Goa on February 6th, where Franchises will have the opportunity to purchase current international players to fill the remaining slots for overseas players in their squads. The Season II of the DLF Indian Premier League is set to kick off on April 10th, with the Final to be played on May 24th, 2009.