Indian Premier League (IPL)

The Indian Premier League (IPL) (currently known as the Pepsi Indian Premier League for sponsorship reasons^[2]) is an annual Indian Twenty20 cricket tournament, founded in 2008 by the BCCI. It consists of a number of teams (currently 8) which are named after Indian cities and owned by franchises, and is held in India between April and June.^{[N 1]}
The IPL is the most-watched Twenty20 league in the world and is also known for its commercial success. In 2010, the IPL became the first sporting event to be broadcast live on YouTube. The brand value of the 2014 Indian Premier League was estimated to be around US$7.2 billion.^[4]
The IPL is currently supervised by BCCI Vice-President Ranjib Biswal, who serves as the League's chairman and Commissioner.^[5] Sundar Raman has been the IPL chief operating officer (COO) since its first season, after he was appointed by the former IPL Commissioner Lalit Modi in 2008.^[6]
Of the 10 teams to have competed since its inception, five have won the title: Kolkata Knight Riders (2 times), Chennai Super Kings (2), Rajasthan Royals (1), Deccan Chargers (1), and Mumbai Indians (1). Chennai Super Kings are the most successful team so far, having won the title twice and at least a semi-final berth in every season. The current champions are the Kolkata Knight Riders, who won the 2014 season by beating the Kings XI Punjab by 3 wickets.