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 Rajasthan Royals, the reigning IPL champions, have sold a 11.7 percent stake in their franchise, for approximately US$15.4 million to Bollywood actress Shilpa Shetty and her partner Raj Kundra, a UK-based businessman. Their valuation of the franchise is now around $140 million, more than double the $67 million the owners, Emerging Media, paid for it just over a year ago. Shetty, winner of the UK TV show 'Celebrity Big Brother' in 2006, is the fourth Bollywood personality to be associated with the IPL, after Preity Zinta (Kings XI Punjab), Shah Rukh Khan and Juhi Chawla (Kolkata Knight Riders).
Coming as it does in the middle of a global economic recession, the news will gladden the hearts of the game’s administrators. On Monday, the IPL released the base prices for Friday’s auction, with two players - England's Kevin Pietersen and next Aussie captain Michael Clarke - valued at a million dollars or more and Andrew Flintoff at close to $950,000.
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