This document discusses the Indian Premier League (IPL), a professional Twenty20 cricket league established by Lalit Modi in 2008. It introduced a franchise-based model with state-level teams that auctioned players and was highly commercialized and profitable. IPL pioneered using cricket as a major business opportunity generating substantial revenues through franchise fees, television rights deals, sponsorships, and other media rights. It transformed cricket from just a sport into big business and entertainment product.
