The International Cricket Council (ICC) finds itself in a tough situation as broadcaster JioStar has reportedly formally informed the global body of its decision to exit the media rights deal prematurely. The media rights for the 2024/27 cycle was valued at $3 billion. As a result of JioStar’s decision to pull out of the deal early, the ICC has now approached other platforms to take over and complete the remaining two years.
JioStar wants to exit media rights deal with ICC
As per Economic Times, JioStar has informed the ICC of its inability to complete the remainder of the 4-year deal due to deep financial losses. The ICC has now begun a fresh sale process for India media rights for 2026–29 and is seeking about $2.4 billion, as per sources quoted by the publication. The report states that the global body has approached other platforms such as Sony Sports Network, Netflix, Amazon Prime Video to take over the deal and service the remaining two years.
The report states that none of the platforms have shown interest so far due to pricing concerns, putting ICC on a sticky wicket. Further, the report also claims that JioStar’s strain had intensified after the ban on real-money gaming earlier this year.
“JioStar more than doubled its provisions for expected losses on onerous sports contracts in 2024-25 to Rs 25,760 crore, up from Rs 12,319 crore a year earlier,” the report stated.
The T20 World Cup 2026 is scheduled to begin in February and the ICC now faces a race against time to find a new media partner, with JioStar withdrawing from the deal prematurely.
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