The Indian Premier League (IPL) is a professional Twenty20 cricket league in India contested during April and May of every year by franchise teams representing Indian cities. The league was founded by the Board of Control for Cricket in India (BCCI) in 2007. The title sponsor of the IPL in 2016 was Vivo Electronics, hence the league is officially known as the Vivo Indian Premier League. The current IPL title holders are Sunrisers Hyderabad.
The IPL is the most-attended cricket league in the world and ranks sixth among all sports leagues. In 2010, the IPL became the first sporting event in the world to be broadcast live on YouTube. The brand value of IPL was estimated to be US$ 4.5 billion in 2015 by American Appraisal, A Division of Duff & Phelps. 7 According to Board of Control for Cricket in India (BCCI), the 2015 IPL season contributed 11.5 billion (US$ 182 million) to the GDP of the Indian economy. 8 According to global valuation and corporate finance advisor Duff & Phelps, the market value of brand IPL has jumped to $4.16 billion after the 2016 edition, against $3.54 billion in 2015. The 19% jump is despite the fact that the US dollar to Indian rupee currency has depreciated by nearly 10%.
In 2007, the Indian Cricket League was founded, with funding provided by Zee Entertainment Enterprises. The ICL (Indian Cricket League) was not recognized by the Board of Control for Cricket in India (BCCI) or the International Cricket Council (ICC) and the BCCI were not pleased with its committee members joining the ICL executive board. To prevent players from joining the ICL, the BCCI increased the prize money in their own domestic tournaments and also imposed lifetime bans on players joining the ICL, which was considered a rebel league by the board. Businessman and cricket executive, Lalit Modi, was tasked by the Board of Control for Cricket in India (BCCI) to start a new Twenty20 league that would rival the Indian Cricket League. In early 2008, the BCCI announced the launch of the Indian Premier League, a new franchise based T20 league, which is among the first of its kind in the cricketing world. The league was based on the Premier League of
England and the National Basketball Association (NBA) in the United States.
In order to decide the owners for the new league, an auction was held on 24 January 2008 with the total base prices of the franchises costing around $400 million. At the end of the auction, the winning bidders were announced, as well as the cities the teams would be based in: Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Mohali, and Mumbai. In the end, the franchises were all sold for a total of $723.59 million. The Indian Cricket League (ICL) soon folded in 2008.
Expansions and terminations
On 21 March 2010, it was announced that two new franchises-- Pune Warriors India and Kochi Tuskers Kerala - will join the league before the fourth season in 2011. 16 Sahara Adventure Sports Group bought the Pune franchise for $370 million while Rendezvous Sports World purchased the Kochi franchise for $333.3 million. However, one year later, on 11 November 2011, it was announced that the Kochi Tuskers Kerala side would be terminated following the side breaching the BCCI's terms of conditions. 17 Then, on 14 September 2012, following the team not being able to find new owners, the BCCI announced that the 2009 champions, the Deccan Chargers, would be terminated. 18 The next month, on 25 October, an auction was held to see who would be the owner of the replacement franchise, with Sun TV Network winning the bid for the Hyderabad franchise. 19 The team would be named Sunrisers Hyderabad. On 14 June 2015, it was announced that two-time champions, Chennai Super Kings, and the inaugural season champions, Rajasthan Royals, would be suspended for two seasons following their role in a match-fixing and also betting scandal. Then, on 8 December 2015, following an auction, it was revealed that Pune and Rajkot would replace Chennai and Rajasthan for two seasons. The teams are the Rising Pune Supergiants and the Gujarat Lions.
Presently, with eight teams, each team plays each other twice in a home-and-away round-robin format in the league phase. At the conclusion of the league stage, the top four teams will qualify for the Playoffs. The top two teams from the league phase will play against each other in the first Qualifying match, with the winner going straight to the IPL final and the loser getting another chance to qualify for the IPL final by playing the second Qualifying match. Meanwhile, the third and fourth place teams from league phase play against each other in an eliminator match and the winner from that match will play the loser from the first Qualifying match. The winner of the second Qualifying match will move onto the final to play the winner of the first Qualifying match in the Indian Premier League (IPL) Final match, where the winner will be crowned the Indian Premier League (IPL) champions.
Tournament and salary rules
A team can get players through five ways: The yearly auction, signing domestic players, signing uncapped players, trading players, and signing replacements. In the trading window, a player can only be traded with his consent, with the franchise paying the difference if any between the old and new contract. If the new contract is worth more than the older one, the difference is shared between the player and the franchise selling the player.
A few of the team composition rules are as follows:
- A minimum squad strength of 16 players, one physiotherapist and a coach.
- No more than 10 foreign players on the squad and a maximum of 4 foreign players in the playing XI.
- A minimum of 14 Indian players must be included in each squad.
- A minimum of 6 players from the BCCI under-22 pool should be included in each squad.
IPL games utilise television timeouts and hence there is no time limit in which teams must complete their innings. However, a penalty may be imposed if the umpires find teams misusing this privilege. Each team is given a two-and-a-half-minute "strategic timeout" during each innings; one must be taken by the bowling team between the 6th and 10th overs, and one by the batting team between the 11th and 16th overs.
The overall spending limit for a franchise in the first player auction was US $5 million. Under-22 players are to be remunerated with a minimum annual salary of US$ 20,000, whereas for others the minimum was US$ 50,000
IPL Governing Council
The IPL (INDIAN PREMIER LEAGUE) Governing Council is responsible for all the functions of the tournament. The members are Rajeev Shukla, Ajay Shirke, Sourav Ganguly, Anurag Thakur, Anirudh Chaudhary. In Jan 2016, the Supreme Court appointed Lodha Committee to recommend separate governing bodies for the (BCCI) and the Indian Premier League (IPL), where Justice RM Lodha suggested a One State- One Member pattern for the board.
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