The Indian Premier League (IPL) (Hindi: इंडियन प्रिमिएर लीग ) is a professional league for Twenty20 cricket championship in India. It was initiated by the Board of Control for Cricket in India (BCCI), headquartered in Mumbai, Maharashtra 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 corruption scandals where allegations of cricket betting, moneylaundering and spot fixing were witnessed.
The Premier League is generally considered to be the world's showcase for Twenty20 cricket, a shorter format of cricket consisting only 20 overs. Top Indian and international players take part in IPL, contributing to what is the world's "richest cricket tournament".
On November 2012, Pepsi won the title sponsorship of the Indian Premier League (IPL) for the next five years. The league will now be called the Pepsi IPL from its sixth season. Two eligiblebids were received, with Pepsi winning over Airtel with a bid of Rs 396.8 crore.
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