Indian Premier League, an annual cricket event started in India in 2008. The tournament is played in the shortest format of the game i.e Twenty20 cricket. IPL has been a grand success and its popularity is increasing worldwide each year. Indian Premier League in its 7 years of existence has been a commercial success too, increasing its value every year. The brand value of the IPL till last year was estimated to be US$3.2 billion. The principal sponsors of Indian Premier League is Pepsi, the reason why it is called Pepsi IPL at present.
The tournament is held in the supervision of BCCI- Board of Control and Cricket in India. At present there are eight teams playing the league, named after different cities of India. The teams is owned and managed by franchises who buy the players on a contract basis to play for their franchisee. The tournament is held every year in the month of April-May in India except once in 2009 when it happened in South Africa due to general elections in India.
There has been 7 tournament held so far, after getting inaugurated in 2008. Out of all the 11 teams that have ever played the league only five have experienced how it tastes to be a champion. IPL’s principal sponsor initially were DLF for $50 million, the five year but was overtaken by Pepsi in 2013 which paid $72 million for the same time, which transformed the name from DLF IPL to Pepsi IPL. Sony entertainment channel has the broadcasting rights of IPL for 10 years which they bought in 2008 for $1billion. IPL has also the record of getting broadcasted live on You Tube, it is the first sporting event to broadcast live on You Tube.
The tournament follows the same rule as in international Twenty20 cricket, strategic time out which is given in between the match is the only difference. However, there are some rules with respect to how a franchisee can acquire a player. A franchisee can own a player for his club in 5 ways:
- Signing domestic players
- Signing uncapped players
- Through trading
- Signing replacements
Other rules include –
- It is a mandate for a franchise to have a minimum squad of 16 players, a physiotherapist and a coach.
- A franchisee can’t own more than 11 international player in a squad out of which only 4 can be in the playing eleven.
- In the squad of 16, at least 14 should be Indian players. However, the team can buy as many players as they want.
- Al least 6 players should be in each squad form BCCI under 22 squad.
The minimum salary of a player has to be US$20,000 and US$50,000 for U-22 player and the rest of the players respectively.
- Chennai Super Kings– The franchise from south of India is owned by Indian cements CEO, Varun Manian. MS Dhoni is the captain of the team and New Zealand’s ex-captain is the coach. Chennai Super Kings is one of the most successful team in the IPL, making it to all the semifinals till now and winning it twice in 2010 and 2011.
- Delhi Daredevils– The franchise is owned by Grandhi mallikarjuna Rao of GMR groups. The team is yet to announce the skipper for 2015 as the team went through complete revamp in recent auction. The ex-South African batsman and Indian cricket team coach Gary Kristen, is currently coaching Delhi Daredevils.
- Kings XI Punjab – KXIP’s ownership is shared by Bollywood actress Preity Zinta, Bombay Dyeing owner Ness Wadia and Mohit Burman from Dabur Groups. The team was runner up last season, the closest they have got to win the league. The team is led by a 33 year old Australian cricketer George Bailey.
- Kolkata knight Riders– The team from the east of India shares its ownership between two Bollywood actors, Shahrukh Khan and Juhi Chawla. Knight Riders started their IPL journey on a very bad note being in bottom three in first three season. However, the team changed story later and is now one of the two team which has won the league twice. The captain of KKR is Gautam Gambhir.
- Mumbai Indians – The Mumbai Indians is owned by the richest man of the country, Mukesh Ambani of Relaince Group. Mumbai India stood champions in 2013 and is currently led by Rohit Sharma.
- Rajasthan Royals – The franchise is owned by Lachlan Murdoch, Shilpa Shetty and Raj Kundra. Rajasthan won the debut season of IPL. Shane Watson of Australia is currently the captain of the league.
- Royal Challengers Bangalore– Kingfisher owner, Vijay Mallya owns the Bangaluru club. The team has never won the league but is one of the most looked after club. The young Indian batsman, Virat Kohli is the skipper currently.
- Sunrisers Hyderabad – Sunrisers Hyderabad made their debut in IPL in 2013. The club is owned by Kalanidhi Maran of Sun Group. The team is yet to announce its captain for 2015 sea