It has captured the imagination of Twenty20 fans and attracted many of the world's finest players. The seven week competition is an unrelenting, all-you-can-eat, whistles and bells carnival of flashing blades in a mad dash for glory.
But there is a price to pay.
It has nothing to do with money and everything to do with hearts and minds. International cricketers are in high demand. They are imported by the IPL to lend star quality, but sooner or later the club versus country tug of war catches up with them.
Cricket is a year round business. Depending on location and willingness to globetrot, a professional player, with the requisite ability, can find gainful employment 12 months of the year.
For the best it's not a matter of getting a job – it's having too much of a good thing.
And it is a dilemma that just caught up with Tillakaratne Dilshan.
Recently appointed captain of Sri Lanka, Dilshan has waited his whole career for this moment. Succeeding Kumar Sangakkara is a huge honour for the 34-year-old all-rounder and something he, rightly, wants to focus his attention on.

Problem is he can't – at least not yet. Dilshan is being paid a small fortune to turn out for the IPL franchise in Bangalore and the Royal Challengers, understandably, want their money's worth.
On current form they are not getting it.

Dilshan has failed with the bat and ball. He cannot be blamed for the weather related washout against Rajasthan but his impact can charitably be described as spotty. He scored a quick fire half century against Mumbai but the effort was in vain as the Indians cruised to a 9 wicket victory.
His other knocks have been brief. Dilshan has compiled a total of just eight runs in three more appearances and his single IPL wicket has so far cost 85 runs and rising.

Is this the sign of a man whose tank is empty after the World Cup or whose mind is elsewhere?
There is no question he wants to go home – apparently the sooner the better. Dilshan and his fellow Sri Lankans have a fast approaching tour of England for which to prepare.
The timing of their departure from the IPL has been the subject of controversy in recent days.
An accord has been reached which suits neither Sri Lanka nor India's Board of Control, which administers the IPL.

Dilshan, who confessed: "I am not unhappy to return early," will remain with Bangalore until May 18th. He'll be gone before the Championship playoffs begin.
If ever there was a perceived conflict of loyalties, Dilshan was quick to set the record straight.
"Playing for my country is more important than playing the IPL," he assured reporters on a brief visit to Colombo, which probably didn't go down so well back in the Garden City.
Of Course Dilshan wants to play Test cricket in England. Of course he wants to make a century at Lord's – the home of cricket. Of course he wants to kick off his captaincy in style.
But being a captain means learning the art of diplomacy. It might be an idea if he acquires some and scores some runs, before abandoning his Indian paymasters.