IPL and royalty

Well, why is IPL so terribly obsession with the royalty? I mean, really. Out of the eight teams, four of them had a name that contained word referring to the kings. Rajasthan Royals, Chennai SuperKings, King's XI Punjab, Bangalore Royal Challengers. Even Kolkata had Knight, a related term, in the name. Of course, Bangalore had a good reason to use that name. I don't know what reasoning other teams had to choose their names.