The Indian Premier League (often abbreviated as IPL), is a Twenty20 cricket competition initiated by the Board of Control for Cricket in India (BCCI) headquartered in Mumbai and supervised by BCCI Vice President Chirayu Amin, chairman & commissioner for IPL, and CEO, Sundar Raman. It presently includes 8 teams (franchises) consisting of players from different countries. 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 the popular video sharing website YouTube.Its brand value was estimated to be around $4.13 billion (over Rs 18,000 crore) the same year. According to global sports salaries review, IPL is the second highest-paid league, based on first-team salaries on a prorata basis, second only to the NBA. It is estimated that the average salary of an IPL player over a year would be £2.5 million.
Every team played each other both at home and away in a round robin system. The top four ranking sides progressed to the knockout stage of semi-finals followed by a final. RajasthanRoyals defeated Chennai Super Kings in a last ball thriller and emerged as the inaugural IPL champions.
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