Background
Zed Entertainment Enterprises funded the establishment of the Indian Cricket League (ICL) in 2007. Neither the International Cricket Council (ICC) nor the Board of Control for Cricket in India (BCCI) recognised the ICL, and the BCCI was not happy that members of its committee joined the ICL executive board. The BCCI, which viewed the ICL as a renegade league, boosted the prize money in its domestic competitions and enforced lifetime bans on players who joined the ICL in order to discourage them from doing so.
Foundation
Following India's victory at the 2007 T20 World Cup, the BCCI announced the Indian Premier League, a franchise-based Twenty20 cricket (T20) league, on September 13th, 2007[16]. A "high-profile ceremony" in New Delhi was planned for April 2008 to officially launch the inaugural season. Lalit Modi, the vice-president of the BCCI who oversaw the IPL endeavour, provided information about the competition's structure, prize money, franchise revenue scheme, and squad makeup guidelines.
The IPL headquarters is situated inside the Cricket Centre next to Wankhede Stadium in Churchgate, Mumbai. The IPL Governing Council is responsible for the league's functions, including organisation of the tournament. Its members are:[40]
prize cash
The IPL's prize pool for the 2022 season was $46.5 billion (US$5.8 million), with the winning team taking home $20 billion (US$2.5 million). The teams who finished second, third, and fourth in the competition each won 13 crore (US$1.6 million), 7 crore (US$880,000), and 6.5 crore (US$810,000).[49] [50]No cash prizes are given to the other teams. Half of the prize money must be divided among the participants, according to IPL regulations.[51]
corporate sponsorship
Sponsorship costs for titles[103][104]
Sponsor Period Annual sponsorship fee approximation
DLF 2008–2012 40 crore (5.0 million US dollars)
Pepsi 79.2 crore (US$9.9 million) in 2013–2015
Vivo 100 crore (US$12.5 million) in 2016–2017
440 crore (US$55.1 million) in 2018-2019
Dream11 2020 would cost 222 crore (US$27.8m).
Vivo 2021 will cost 440 crore (or $55.1 million)
Tata 300-355 crore (US$37.6-44.5 million) in 2022-2023
Between 2016 and 2018, the IPL tournament's value increased quickly. Financial analysts estimated the IPL to be worth $4.16 billion in US dollars in 2016, $5.3 billion in 2017, and $6.13 billion in 2018. A new television deal with Star India Private Limited, which engaged more viewers because the IPL was broadcast to regional channels in eight languages instead of the previous deal's restriction to sports networks with English-language commentary, was one of the contributing factors, according to a report from Duff & Phelps.
