Setback For ICC Ahead Of T20 World Cup, JioStar Says Can't Fulfill USD 3 Billion Media Rights Deal
Ahead of the T20 World Cup 2026, the International Cricket Council has faced a severe blow after JioStar expressed its desire to pull out as the official broadcasters.
- India and Sri Lanka will co-host the 2026 T20 World Cup from Feb 7 to Mar 8
- JioStar is looking to withdraw from the remaining two years of its India media-rights contract
- JioStar cited heavy financial losses as the reason for exiting the ICC broadcasting deal
India is all set to co-host the 2026 T20 World Cup along with Sri Lanka. The marquee tournament will run from February 7 to March 8. However, ahead of the event, the International Cricket Council (ICC) has suffered a major setback after JioStar expressed its intention to withdraw as the official broadcaster for the tournament, and the subsequent commitments in the current contract. According to a report by The Economic Times, JioStar -- controlled by Reliance Industries -- has formally informed the ICC that it cannot fulfil the remaining two years of its four-year India media-rights agreement.
The reason behind JioStar's sudden exit is believed to be the heavy financial losses the platform has been incurring. Interestingly, the ICC has already initiated a fresh sale process for India media rights for the 2026-29 cycle, seeking around USD 2.4 billion. However, JioStar's withdrawal has thrown ICC's plans into disarray.
The 2024-27 cycle deal signed by JioStar was valued at USD 3 billion, as it included at least one major men's cricket tournament each year. With JioStar opting out, the ICC has sent invitations to several major platforms.
Brands such as Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video have been approached, but so far, none have shown significant interest due to the high cost of the deal.
Reports indicate that mounting financial stress and substantial losses are the primary reasons behind JioStar's decision. The broadcaster's audited standalone accounts reveal that provisions for anticipated losses on sports-content deals surged from Rs 12,319 crore to Rs 25,760 crore in just one financial year. This sharp increase underscores severe monetisation challenges and a widening gap between soaring content costs and recoverable revenue.
With no broadcaster confirmed yet, ICC's plans for the 2026 T20 World Cup are now in serious jeopardy.
India Cricket Team