Indian Premier League
The Indian Premier League (IPL) 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, 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 world. It was started after an altercation between the BCCI and the Indian Cricket League.
In 2010, the IPL became the first sporting event ever to be broadcast live on YouTube in association with Indiatimes. Its brand value is estimated to be around US$3.67 billion in fourth season. However, the league has been engulfed by series of corruption scandals involving from cricket betting to spot fixing. Kolkata Knight Riders won the 2012 edition of Indian Premier League.
There are five ways that a franchise can acquire a player: In the annual auction, signing domestic players, signing uncapped players, through trading, and signing replacements. In the trading window, the player can only be traded with his consent. The franchise will have to pay the difference between the old contract price and the new contract price. If the new contract is worth more than the older one, then the difference will be shared between the player and the franchise selling the player.
Some of the team composition rules are:
§ Minimum squad strength of 16 players plus one physio and a coach.
§ No more than 10 foreign players in the squad and maximum 4 foreign players should be in the playing eleven.
§ Minimum of 14 Indian players must be included in each squad.
§ A minimum of 6 players from the BCCI under-22 pool in each squad.