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The IPL is a Twenty20 cricket tournament which was inaugurated in 2008. Twenty20 cricket was first introduced at a competitive level by the England and Wales cricket board in 2003 but the Indian Premier League is largely credited with being the institution that projected the format of the game onto the world stage.

The Indian Premier League was initiated by the Board of Control for Cricket in India (BCCI) and has been an enormous success. The annual tournament, played in the months of April and May has gone from strength to strength and is largely viewed as being the 'richest' tournament in world cricket.

There are the eight franchises that field teams to play in the IPL (in brackets original cost of franchise in $/million):

• Chennai Super Kings, CSK (91)


• Delhi Daredevils, DD (84)


• Kings XI Punjab, KXIP (76)


• Kolkata Knight Riders, KKR (75.1)


• Mumbai Indians, MI (111.9)


• Rajasthan Royals, RR (67)


• Royal Challengers Bangalore, RCB (111.6)


• Sunrisers Hyderbad, SRH (159)

The following two teams have played in the IPL but due to financial constraints have ceased to exist:

• Kochi Tuskers Kerala, KTK (333)


• Deccan Chargers, DC (107)


• Pune Warriors India, PWI (370)

The tournament has been won by five different teams:

• 2008 Final: Chennai Super Kings vs Rajasthan Royals; Winner: Rajasthan Royals

• 2009 Final: Deccan Chargers vs Royal Challengers Bangalore; Winner: Deccan Chargers

• 2010 Final: Mumbai Indians vs Chennai Super Kings; Winner: Chennai Super Kings

• 2011 Final: Chennai Super Kings vs Royal Challengers Bangalore; Winner: Chennai Super Kings

• 2012 Final: Chennai Super Kings vs Kolkata Knight Riders; Winner: Kolkata Knight Riders

• 2013 Final: Mumbai Indians vs Chennai Super Kings ; Winner : Mumbai Indians

As evident from above, the Chennai Super Kings are the most successful side in the history of the IPL, being winner twice and reaching in final three times.