The Indian Premier League (IPL) is a professional league for Twenty 20 cricket championship in India. It was initiated by Lalit Modi, who served as the league's first Chairman and Commissioner and Board of Control for Cricket in India (BCCI), headquartered in Mumbai, Maharashtr and is supervised by BCCI Vice President Rajeev Shukla who serves as the league's Chairman and Commissioner. It is currently contested by nine teams, consisting of players from around the cricketing world. It was started after an altercation between the BCCI and the Indian Cricket League.
In 2010, IPL became the first sporting event ever to be broadcast live on YouTube. Its brand value is estimated to be around US$2.99 billion in fifth season. However, the league has been engulfed by series of Controversies where allegations of betting, money and spot fixing were witnessed.
The Premier League is generally considered to be the world's showcase for Twenty 20 cricket, a shorter format of cricket consisting only 20 over. Top Indian and international players take part in IPL, contributing to what is the world's "richest cricket tournament".
In 2012 the naming rights for the series was awarded to Pepsi. Two eligible bids were received, with Pepsi winning over Airtel with a bid of 396.8 crore.
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