The Indian Premier League (often abbreviated as IPL), is a domestic professional Twenty20 cricket competition in India. It was initiated by the Board of Control for Cricket in India (BCCI) headquartered in Mumbai and Lalit Modi, the then Vice President of BCCI and later on supervised by another BCCI Vice President Chirayu Amin, current chairman & commissioner of IPL, and CEO, Sundar Raman. It presently includes 10 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 YouTube. Its brand value was estimated to be around 
18,000 crore (US$3.91 billion)) the same year. According to global sports salaries review, IPL is the second highest-paid league, based on first-team salaries on a pro rata basis, second only to the NBA. It is estimated that the average salary of an IPL player over a year would be 17.7 crore (US$3.84 million).
First season :2008 Indian Premier League
Rajasthan Royals defeated Chennai Super Kings in a last ball thriller and emerged as the inaugural IPL champions.
Second season :2009 Indian Premier League
Deccan Chargers, who finished last in the first season, came out as eventual winners defeating the Royal Challengers Bangalore in the final.
Third season: 2010 Indian Premier League
The final was played between Chennai Super Kings and Mumbai Indians. Chennai Super Kings won by a margin of 22 runs.
Fourth season :2011 Indian Premier League
On 21 March 2010, it was announced at Chennai that 2 new teams from Pune and Kochi will be added to the IPL 4,the forth season.
The Players auction for IPL season 4 is scheduled For January 8 and 9 in Bangalore.
The IPL Team Names :
Mumbai Indians,Royal Challengers Bangalore,Deccan Chargers,Chennai Super Kings,Delhi Daredevils,Kings XI Punjab,Kolkata Knight Riders,Rajasthan Royals,Pune Warriors,Team Kochi.