Shilpa Shetty picks up 12 per cent stake in Rajasthan Royals

Mumbai, Feb 3 (PTI) Bollywood actress Shilpa Shetty and
her businessman boyfriend Raj Kundra have picked up 12 per
cent stake worth over USD 11.6 million in the Rajasthan Royals
franchise team that won the inaugural 2008 season of the
Indian Premier League.

"It's a strategic business investment. I always support
the underdogs as I am myself one. Rajasthan Royals were the
underdogs in IPL before they succeeded (in winning the
title)", Shetty told a media conference Tuesday.

Shetty has invested her money in the Rajasthan Royals
team, co-owned by Manoj Badale who is also its chairman, as
the CEO of S2 Global Productions Private Limited and her
business partner in the venture is the CEO of Dubai-based
Essential Trading Company, Raj Kundra.

Kundra said he has heeded the advise of his father to
always invest in a successful venture and the triumphant
Royals franchise team fit it perfectly.

Badale, announcing the selling of 12 per cent stake in
Rajasthan Royals was valued at USD 140 million, said that last
year the focus was to make it a well-known brand in India and
this year the strategy was to globalise it.

"We wanted to find a strategic partner to develop the
commercial properties. We want to make Rajasthan Royals into
more than a cricket franchise, want to make it into a global
brand. It was the second-most popular team in all of India
last year, and obviously the number one in Rajasthan", he
said.

Badale also announced that the focus of the Royals team
would always remain cricket-specific and that this year the
team will include a few young players who already have had a
few interactive sessions with Australian spin legend and the
team's captain-cum-coach Shane Warne.

"Cricket was and is always our focus. We are always for
developing new players and this year we plan to introduce nine
young players. Shane Warne has already made a couple of visits
to India and interacted with them," he said.

Terming the Pakistan government's decision to bar the
country's players from taking part in this year's IPL as
disappointing, in the wake of the tensions between the two
countries in the aftermath of the Mumbai terror attacks,
Badale said the team did not target a specific player during
the IPL player auctions in Goa on February 6.

"We would not be having last year's bowler of the IPL
Sohail Tanvir and a few other Pakistan players. We have to
become smart and fill up their spots. We are targeting all 43
players. We are not interested in specific players. The
important thing is to have the right balance in the team", he
said.

About the investments from Shetty and Kundra, Badale
said, "We are funded well now for the next few years with the
investments of Shilpa and Raj".

He also claimed the global economic meltdown has not
affected the team's sponsorships.

"Having prepared well in cricket the first year we have
not seen any slowdown in interest from sponsors," Badale said.

Badale also said that over the next 12 months the
franchise would play matches in England, during their summer,
and Australia, during their season.