India, July 23 -- Raj Kundra recently opened up about the time he acquired a majority stake in IPL franchise Rajasthan Royals. The businessman revealed that he bought the team as a Valentine's Day gift for his wife, actor Shilpa Shetty.

Speaking to the YouTube channel SMTV, Raj revealed that he acquired his stake in the franchise in 2009. "I bought it like a Valentine's Day gift. I thought Shilpa had the brand value and I am putting in the money. I bought my stake then, but the case is still going on," he said.

During the interaction, Raj shared that when he invested in the IPL team, its valuation was around Rs.700 crore. According to him, the franchise is now valued at nearly Rs.16,000 crore. Reports at the time stated that Raj had spe...