The IPL is a professional Twenty20 cricket league tasked by BCCI to business man and cricket executive Lalit Modi that reveals Indian cricket team. BCCI (Board of Cricket Council of India) announced the launch of the Indian cricket league in 2008, backed by the ICC (International Cricket Council). A new franchise-system of hiring players and transfer was first of its kind in cricket world. The league was based on premier league of England and NBA in United States. At the end of the auction held on January 2008 the winner of bidding team was announced, where the highest bidder won the rights to own the team, representing each city. The cities include Bangalore, Chennai, Delhi, Hyderabad, Jaipur, Kolkata, Mahali and Mumbai, each team comprising a minimum of 16 players. The Indian cricket league closed in 2008 where the franchise sold for total of $723.59 million.
The new franchise teams were introduced in 21st March 2010. Pune Warriors India and Kochi Turkeys bought by Sahara Adventure sports group for $370 million and Rendezvous sports group for $ 333.3 million respectively. Kochi Turkeys sports group was soon closed in 11th Nov 2011 for not following the teams and conditions of BCCI.
DLF Indian Premier League (IPL) is an amazing occurrence and very good opportunity as far as the entertainment industry is concerned. The Indian Premier League is headed, as far as viewership and profits for everyone associated with it is concerned.