Raj Kundra Alleges $2.5 Million Financial Irregularities in Rajasthan Royals’ IPL Bid
Indian entrepreneur Raj Kundra has accused officials involved in the early formation of Rajasthan Royals of major financial irregularities during the franchise bidding process. In a letter sent to the Board of Control for Cricket in India, he raised concerns over suspicious transactions linked to the team’s original ownership structure.
According to Kundra, $2.5 million was transferred in January 2008 to an account allegedly connected with acquiring the franchise, suggesting the money may have been part of payments made during the bidding process. He further alleged that several financial transactions from that period were concealed and that certain bank records were never disclosed during investigations.
Kundra also claimed that some sworn statements connected to the matter may have been inaccurate, potentially opening the door for legal proceedings. However, Indian media reports that these allegations remain unverified, and no official statement has yet been issued by the Board of Control for Cricket in India, Lalit Modi, or Rajasthan Royals.
The controversy comes as Raj Kundra is currently challenging the proposed $1.63 billion sale of Rajasthan Royals, arguing that his 11.7% stake in the franchise was never legally transferred.
Raj Kundra and Shilpa Shetty were once among the key owners of Rajasthan Royals, but following the 2015 spot-fixing scandal, Kundra received a lifetime ban from all cricket-related activities.
If these allegations are eventually proven true, experts believe the controversy could reopen serious questions about the origins and early operations of the Indian Premier League.
