The Indian Premier League (IPL) is a professional Twenty20 cricket league in India contested every year by franchise teams representing Indian cities. The league, founded by the Board of Control for Cricket in India (BCCI) member Lalit Modi in 2007, is scheduled over April and May of every year. The title sponsor of the IPL in 2016 is Vivo Electronics, thus the league is officially known as the Vivo Indian Premier League.
The IPL is the most-attended cricket league in the world and ranks sixth among all sports leagues. In 2010, the IPL became the first sporting event in the world to be broadcast live on YouTube. The brand value of IPL was estimated to be US$4.5 billion in 2015 by American Appraisal, A Division of Duff & Phelps. According to BCCI, the 2015 IPL season contributed ₹11.5 billion (US$182 million) to the GDP of the Indian economy.
Of the 13 teams to have competed since the league's first season, six have won the title at least once. Mumbai Indians, Chennai Super Kings and Kolkata Knight Riders have won twice, while Rajasthan Royals, Deccan Chargers and Sunrisers Hyderabad have won once. Sunrisers Hyderabad are the current champions having won the 2016 season. Until 2014, the top three teams in the tournament qualified for the Champions League Twenty20. However, the Champions League Twenty20 tournament was discontinued in 2015 and has been defunct since.