The International Cricket Council is facing a serious financial setback after Jio Star reportedly informed the governing body that it can no longer continue with the remaining two years of its broadcast rights contract for ICC events in India. The four-year agreement, which runs from 2024 to 2027, has now been left incomplete, creating uncertainty over the coverage of upcoming events including the 2026 ICC Men’s T20 World Cup that India is scheduled to host.
According to media reports, Jio Star has suffered significant financial losses under the current deal. The broadcaster has reportedly increased its estimated potential losses in sports contracts for 2024 and 2025 from PKR 12,319 crore to PKR 25,760 crore, reflecting the heavy pressure of long-term high-value rights agreements.
The sudden withdrawal has forced the ICC to start a new sales process for the 2026 to 2029 broadcast cycle. The global body is targeting revenue of around 2.4 billion dollars from the fresh rights package and has approached leading platforms such as Sony Pictures Networks India, Netflix and Amazon Prime. However, industry reports suggest that none of the major players are willing to commit to another expensive long-term deal in the current market conditions.
The crisis has exposed deeper issues in India’s sports broadcasting landscape. Experts note that the costs of acquiring premium cricket rights have escalated far beyond what advertising revenue and subscription growth can support. Even large broadcasters like Jio Star are now taking a cautious stance after experiencing substantial losses.
Industry analysts believe this development could also influence future negotiations for the Indian Premier League broadcast rights. With major companies reassessing their financial commitments, the pricing of upcoming IPL cycles may see a shift as well.
The ICC has yet to comment officially on the matter, but the situation raises major questions about the future structure and sustainability of cricket broadcasting in India.
