IPL, Indian Premier League

Introduction

The Premier League of Cricket, The TATA IPL - Ten city-based franchises compete in the IPL, which was founded in 2007 by BCCI, every year from March to May. It pioneered live broadcasting and sets attendance records for cricket worldwide. It is a sporting powerhouse, with a brand value estimated at US$11 billion in 2022 and substantial GDP contributions. The recent $6.4 billion media rights transaction highlights its enormous financial attractiveness. The current champions are the Chennai Super Kings.

History

Motivated by an Opponent

The BCCI established the Indian Premier League (IPL) in reaction to the establishment of the Indian Cricket League (ICL) in 2007, which was not acknowledged by either the ICC or the BCCI. The BCCI increased domestic tournament prize money in response to this rival league and banned players from the ICL for life.

Foundation

After India's triumph in the T20 World Cup, the BCCI launched the IPL on September 13, 2007. Lalit Modi described the tournament's structure, financial awards, and franchise revenue structure. Eight franchises were established in January 2008 thanks to a $723.59 million auction.

Extensions and Abandonments

The Kochi Tuskers of Kerala and the Pune Warriors of India joined the league in 2011. However, Kochi's financial problems led to his dismissal after just one season. The Deccan Chargers' contract was ended in 2012, and Sunrisers Hyderabad took over. Pune Warriors were officially terminated in 2013 after they withdrew due to financial disputes. A spot-fixing controversy in 2015 resulted in a two-season suspension for both the Chennai Super Kings and the Rajasthan Royals. Because to the COVID-19 outbreak, the UAE hosted the 2020 season. The Gujarat Titans and Lucknow Super Giants were revealed as the new teams for the 2022 season in 2021. With teams that are branded identically to their IPL franchises, IPL franchise owners have ventured into other competitions like the CPL and MLC.

Prize money

A total of ₹46.5 crore in prize money was available for the 2022 Indian Premier League, with the winner side taking home ₹20 crore and the runner-up taking home ₹13 crore. The players in the franchise must split half of the prize money according to league regulations.