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The Delhi Capitals are a franchise cricket team based out of Delhi in the Indian Premier League (IPL). Founded in 2008 as the Delhi Daredevils, the franchise is jointly owned by the GMR Group and the JSW Group. The team's home ground is Arun Jaitley Stadium, located in New Delhi. The Capitals appeared in their first IPL final in 2020.

The Sunrisers Hyderabad (stylised as SunRisers Hyderabad, abbr. SRH) are a franchise cricket team based in Hyderabad, Telangana, India, that plays in the Indian Premier League (IPL). The franchise is owned by Kalanithi Maran of the SUN Group and was founded in 2012 after the Hyderabad-based Deccan Chargers were terminated by the IPL. The team is currently captained by Kane Williamson and coached by Trevor Bayliss. Their primary home ground is the Rajiv Gandhi International Cricket Stadium, Hyderabad, which has capacity of 55,000.

The team made their first IPL appearance in 2013, where they reached the playoffs, eventually finishing in fourth place. The Sunrisers won their maiden IPL title in the 2016 season, defeating the Royal Challengers Bangalore by 8 runs in the final. The team has qualified for the play-off stage of the tournament in every season since 2016. In 2018, the team reached the finals of the Indian Premier League, but lost to Chennai Super Kings. The team is considered one of the best bowling sides, often admired for its ability to defend low totals. David Warner is the leading run scorer for the side, having won the Orange Cap 3 times, in 2015, 2017, and 2019. Bhuvneshwar Kumar is the leading wicket-taker. The COVID-19 pandemic impacted the brand value of the Sunrisers Hyderabad which saw a decline of 4 percent to US$57.4 million in 2020 as the overall brand value of the IPL decreased to US$4.4 billion, according to Brand Finance.

The Kolkata Knight Riders (KKR) are a franchise cricket team representing the city of Kolkata in the Indian Premier League. The franchise is owned by Bollywood actor Shah Rukh Khan, actress Juhi Chawla and her spouse Jay Mehta. The Knight Riders play at the iconic Eden Gardens stadium.

The franchise, which has gained immense popularity due to its association with celebrity owners, qualified for the IPL playoffs for the first time in 2011. They became the IPL champions in 2012, by defeating Chennai Super Kings in the final. They repeated the feat in 2014, defeating Kings XI Punjab. The Knight Riders hold the record for the longest winning streak by any Indian team in T20s (14).

The side's all-time leading run-scorer is Gautam Gambhir, while their leading wicket-taker is Sunil Narine. The official theme of the team is Korbo, Lorbo, Jeetbo Re (we will perform, fight, and win!) and the official colours are purple and gold. The brand value of the Knight Riders was estimated at $104 million in 2018, second highest among IPL franchises. In 2019, their value was estimated at ₹629 crore (US$84 million).

The Mumbai Indians are a franchise cricket team based in Mumbai, Maharashtra, that competes in the Indian Premier League. Founded in 2008, the team is owned by India's biggest conglomerate, Reliance Industries, through its 100% subsidiary IndiaWin Sports. Since its establishment, the team has played its home matches in the 33,108-capacity Wankhede Stadium in Mumbai.

In 2017, the Mumbai Indians became the first franchise to cross the $100 million mark in brand value among the IPL franchises. The brand value of Mumbai Indians, in 2019, is estimated to be around ₹809 crore (roughly $115 million), the highest among all the IPL franchises for the fourth consecutive year.

Mumbai Indians won the 2011 Champions League Twenty20 after beating Royal Challengers Bangalore by 31 runs in the final. The team won the double by winning its first IPL title, in 2013, by defeating Chennai Super Kings by 23 runs in the final, and then defeated the Rajasthan Royals by 33 runs to win its second Champions League Twenty20 title later that year. They won their second IPL title on 24 May 2015 by defeating the Chennai Super Kings by 41 runs in the final and became the third team to win more than one IPL title. On 21 May 2017, they won their third IPL title by defeating the Rising Pune Supergiant by 1 run in a thrilling final, thus becoming the first team to win three IPL titles. While playing the tournament, they won their 100th T20, becoming the first team to do so. In 2019, they repeated the same feat as they won a record breaking fourth IPL title, by beating CSK by just 1 run on 12 May 2019 in the IPL Final. They became the first team to win the IPL title for the fifth time, by beating Delhi Capitals by 5 wickets on 10 November 2020 in the IPL Final.

Mumbai Indians are currently captained by Rohit Sharma. Mahela Jayawardene was appointed as head coach of Mumbai Indians before the 2017 season. Sharma is the leading run scorer of the team while Lasith Malinga is the leading wicket taker of the team and the IPL as well.

The Rajasthan Royals (often abbreviated as RR) are a franchise cricket team based in Jaipur, Rajasthan, that plays in the Indian Premier League (IPL). Founded in 2008 as one of the initial eight IPL franchises, the team is based at the Sawai Mansingh Stadium in Jaipur. The Royals are known to unearth obscure, high potential talent, as well as for their involvement in a number of controversies and scandals.

The team won the inaugural edition of the IPL under the captaincy of Shane Warne, despite being written off as a title contender by the media and fans. The Royals were also the runners-up of the 2013 Champions League Twenty20 under Rahul Dravid's captaincy.

On 14 July 2015, the verdict reached by a panel appointed by the Supreme Court of India suspended Rajasthan Royals and Chennai Super Kings for two years over a 2013 betting scandal, meaning they could not participate in both the 2016 and 2017 IPL tournaments. They returned to the competition for the 2018 season.

The team's record run-scorer is Ajinkya Rahane with 3098 runs, while the leading wicket-taker is Shane Watson, with 67.

The Royal Challengers Bangalore (often abbreviated as RCB) are a franchise cricket team based in Bangalore, Karnataka, that plays in the Indian Premier League (IPL). It was founded in 2008 by United Spirits and named after the company's liquor brand Royal Challenge. Since its inception, the team has played its home matches at the M. Chinnaswamy Stadium.

The Royal Challengers have never won the IPL but finished runners-up on three occasions between 2009 and 2016. Their lack of success over the years despite the presence of various notable players has earned them the tag of "underachievers". The team holds the records of both the highest and the lowest totals in the IPL – 263/5 and 49 respectively.

The Chennai Super Kings (CSK) are a franchise cricket team based in Chennai, Tamil Nadu. They play in the Indian Premier League (IPL). Founded in 2008, the team plays its home matches at the M. A. Chidambaram Stadium in Chennai. The team is owned by Chennai Super Kings Cricket Ltd and India Cements is the major stakeholder. The team served a two-year suspension from the IPL starting July 2015 due to the involvement of their owners in the 2013 IPL betting case, and won the title in its comeback season of 2018. The team is captained by Mahendra Singh Dhoni and coached by Stephen Fleming. They are the current defending champions.

The Super Kings have won the IPL title four times (in 2010, 2011, 2018, and 2021), and have the highest win percentage of matches among all teams in the IPL (59.83%). They hold the records of most appearances in the playoffs (eleven) and the Final (nine) of the IPL. In addition, they have also won the Champions League Twenty20 in 2010 and 2014. The brand value of the Super Kings in 2019 is estimated to be around ₹732 crore (roughly $104 million), making them one of the most valuable IPL franchises.