Rajasthan Royals, Champions of the inaugural Indian Premier League (IPL) in 2008 today announced selling an equity stake to London based entrepreneur Raj Kundra and his partner, well known Bollywood celebrity, Shilpa Shetty. Raj Kundra is the Chief Executive Officer of Essential General Trading LLC. Shilpa Shetty is the Chief Executive Officer of S2 Global Productions Pvt Ltd., which is her home film production company. The announcement was made by Manoj Badale, Chairman and joint owner, Rajasthan Royals.
Says Shilpa Shetty, Chief Executive Officer, S2 Global Productions Pvt. Ltd, ’’We’ve taken a strategic approach in investing in Rajasthan Royals. Cricket is not a sport in our country, it’s a religion. I am very passionate about Cricket and who better to invest in than the current reigning IPL champions. It completes the proven success story for an IPL team merging with Bollywood.’’
Says Raj Kundra - Chief Executive Officer, Essential General Trading LLC, Dubai, ’’The benefits to us investing in this venture was to add to the already new found success of last year’s underdogs who went on to become the Champions and to add the winning formula of Bollywood to create a true global cricket brand. I believe Shilpa Shetty getting involved would just complete Rajasthan Royals and will certainly add to its valuation.’’
Says Manoj Badale - Chairman & Joint Owner, Rajasthan Royals, ’’It is our pleasure to welcome our new investors Mr. Raj Kundra and Shilpa Shetty to the Royals family. The selling of this stake is part of our long-term strategic approach to make Rajasthan Royals a global cricket brand. Our objective is to support investment in key areas of player development infrastructure; positioning for acquisition of international acquisition and to also support continued investment in our playing staff.’’
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