The Indian Premier League is a T20 championship league in India. It was initiated by Lalit Modi and the Board of Control for cricket India (BCCI), after an altercation between the BCCI and the Indian Cricket Leauge. The league is headquartered in Mumbai, and is currently supervised by BCCI Vice President Rajeev Shukla, who serves as the league's Chairman and Commissioner. It is contested by eight teams as of 2013, consisting of players from around the cricketing world.
There are the eight franchises that field teams to play in the IPL (in brackets original cost of franchise in $/million):
Chennai super Kings, CSK (91)
Delhi Daredevils, DD (84)
Kings XI Punjab, KXIP (76)
Kolkata Knight Riders, KKR (75.1)
Mumbai Indians, MI (111.9)
Rajasthan Royals, RR (67)
Royal Challengers Bangalore, RCB (111.6)
Sunrisers Hyderbad, SRH (159)
There are the eight franchises that field teams to play in the IPL (in brackets original cost of franchise in $/million):
Chennai super Kings, CSK (91)
Delhi Daredevils, DD (84)
Kings XI Punjab, KXIP (76)
Kolkata Knight Riders, KKR (75.1)
Mumbai Indians, MI (111.9)
Rajasthan Royals, RR (67)
Royal Challengers Bangalore, RCB (111.6)
Sunrisers Hyderbad, SRH (159)