What is the IPL?
The Indian Premier League is a professional T20 franchise league owned by the BCCI, launched in 2008. It blends domestic Indian talent with the world's best overseas players in city-based teams owned by corporates and Bollywood figures.
It's the most-watched cricket league on earth — the 2023–27 media rights sold for ₹48,390 crore (~$6.2 billion), making it the second most valuable per-match sports property in the world after the NFL.
How the auction works
Each franchise enters the auction with a purse capped at the league's salary cap minus the cost of retained players. A player sets a base price (between ₹30 lakh and ₹2 crore); franchises bid in fixed increments until only one bidder remains.
There are two auction formats: the big mega auction (every 3 years) where almost everyone re-enters the pool, and the mini auction (in between) where teams only fill gaps. Right to Match (RTM) cards let an existing franchise re-sign a released player by matching the final bid.
Salary cap
₹120 crore per franchise (2025). Rises ~₹5 cr each season.
Overseas players
Unlimited in the squad, max 4 in the playing XI.
Retentions
Up to 6 players (incl. RTMs) before each mega auction.
Uncapped players
Indians with no international caps — cheap but high-upside.
Format & playoffs
All 10 teams play 14 league matches in a hybrid double round-robin — you face some teams twice and others once. Top 4 on points (with NRR as tiebreaker) make the playoffs.
The playoff bracket gives a second life to the top two: Qualifier 1 (1st vs 2nd) — winner goes straight to the Final. The loser drops into Qualifier 2 against the Eliminator winner (3rd vs 4th). One final on a neutral venue decides it.
The Impact Player rule
Introduced in 2023, each side can name 4 substitutes pre-toss and bring ONE on at the fall of a wicket, end of an over, or when a batter retires. The substitute can bat or bowl their full quota — effectively giving teams a 12th player.
Tactically it's transformed the league: teams now stack batting depth (sub for a specialist bowler when chasing) or load a sixth bowler when defending. Critics argue it has reduced the role of all-rounders.
The 10 franchises
The current 10 teams, with home venues:
Chennai Super Kings
MA Chidambaram Stadium · 5 titles
Mumbai Indians
Wankhede Stadium · 5 titles
Kolkata Knight Riders
Eden Gardens · 3 titles
Gujarat Titans
Narendra Modi Stadium · 1 title
Royal Challengers Bengaluru
M. Chinnaswamy Stadium · 1 title (2025)
Sunrisers Hyderabad
Rajiv Gandhi Stadium · 1 title
Rajasthan Royals
Sawai Mansingh Stadium · 1 title (inaugural 2008)
Delhi Capitals
Arun Jaitley Stadium · 0 titles
Punjab Kings
PCA Stadium, Mohali · 0 titles
Lucknow Super Giants
Ekana Stadium · 0 titles
Why the IPL matters
Financially, it underwrites world cricket — central revenue from IPL allows the BCCI to subsidise Indian domestic cricket and indirectly props up smaller boards through India tours.
Tactically, it accelerates innovation: ramp shots, mystery spin, wide-yorker death bowling, and matchup analytics all matured here before reaching international cricket.