Raj claims he spent Rs 82 crore on Valentine's Day gift' for Shilpa

Raj Kundra said he bought an 11.7% stake in Rajasthan Royals in 2009 as a Valentine's Day gift for Shilpa Shetty, costing Rs 81.9 crore.

Kundra claimed his investment was then the IPL's largest single cheque investment.

The stake is now valued at Rs 16,000 crore, up from the team's Rs 700 crore valuation at purchase.

Kundra was banned from the IPL in 2015 over betting allegations, which he denies.

He explained IPL teams now earn Rs 200-500 crore annual profit from TV deals (70%), sponsorships (10-15%), and ticket sales (10-15%).