Is the IPL a two-tier tournament between non-equals?

Chennai, Mumbai, Kolkata, Delhi and Bangalore have the financial muscle to ensure they have the best players. The other teams, including Pune who entered the IPL late, don't stand a chance against their might.

Rajasthan, Punjab and Hyderabad and Pune might not have the attendant glitz and hype that surrounds the big five, but they compete as equals on the field. The fact that Rajasthan and Hyderabad won the first two editions proves that the underdogs can succeed in the IPL.