Introduction
Indian Premier League (IPL) was founded by the Board of Control for Cricket in India (BCCI) on 13th Sept, 2007. After the victory of India in 2007 T20 World Cup, BCCI announced a franchise based Twenty20 Cricket competition known by the name of IPL. Franchise is an entity who selects and purchase the players of their choice on auction basis. Players participates in the auction from all around the world. The first season of the IPL was started in April 2008 in New Delhi in high profile ceremony. At the time BCCI vice-president was Lalit Modi who spelled out the details of the tournament – it's format, the prize money, franchise revenue system and Team formation rules.
Before the IPL started, in 2007, Indian Cricket League (ICL) was founded which was funded by Zee Entertainment Enterprises. This tournament was neither recognized by BCCI nor supported by ICC. The BCCI was not pleased with the committee members joining ICL executive board. In order to prevent players from joining ICL, BCCI increased the prize money for their tournaments. BCCI also imposed lifetime bans on the players joining ICL.
In the inaugural, Lalit Modi clarified that they were working on the idea since 2 years and the IPL was not started as the reflex reaction to the ICL. The IPL format was similar to the Premier League of England and NBA in U.S. Vice-President also mentioned that the IPL would be run by seven-man governing body which was composed of former Indian Players and BCCI officials.
On 24th January 2008, the auction was held to decide the owners of the Teams. It was decided that the cities and the Teams would be: Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Mohali, and Mumbai. Pakistan was not allowed to participate in the IPL and the auction due to terrorist attack happened in Mumbai in 2008.
In March 2010, two new franchises were introduced from Pune and Kochi in form of Pune Warriors India and Kochi Tuskers Kerala before the 4th season of IPL in 2011. In November 2011, Kochi was terminated due to breaching of BCCI terms and conditions. In May 2013 Pune franchise was withdrew from the IPL due the financial differences from BCCI. Later in October 2013 BCCI officially terminated the Pune Franchise.
IPL Teams
In June 2015, Chennai Super Kings and Rajasthan Royals were suspended for 2 seasons as they caught in spot-fixing and betting scandal. Later in December 2015, it was revealed that for these 2 seasons Rising Pune Supergiant and Gujarat Lions will replace the suspended franchise.
In 2020 due to COVID-19 the matches were played in UAE. In August 2021, BCCI announced two new franchises which would play in 2022 season. They shortlisted six cities viz. Ahmedabad, Lucknow, Cuttack, Guwahati, Ranchi and Dharamshala. Later Lucknow Super Giant and Gujarat Titans were chosen as the 2 new Teams.
Player acquisition happens through annual player auction, trading players with other teams during trading window and signing replacements for unavailable players. The Term of the player with Franchise is for one year, however, a franchise can extend the term up to one or two years. According to a 2015 survey by Sporting Intelligence and ESPN The Magazine, the average IPL salary when pro-rated is US$4.33 million per year, the second highest among all sports leagues in the world.
