The International Cricket Council (ICC) is facing a difficult situation. Reliance Industries-controlled JioStar has formally announced that it will no longer be able to fulfill the remaining two years of its media rights contract. Financial losses have become so severe that the company has decided to withdraw from the agreement. This could directly impact upcoming cricket tournaments, especially the ICC Men's T20 World Cup to be held in India in 2026. Following JioStar's move, the ICC has initiated the process of selling new media rights for India for the 2026–29 season.

ICC begins discussions with other potential partners

According to reports, the ICC is expecting approximately $2.4 billion this time around. The total value of the current 2024–27 cycle, which included a major men's tournament each year, was approximately $3 billion. Now that JioStar has indicated its intention to exit the contract, which runs until 2027, the ICC has initiated discussions with other potential partners, including Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video. However, no platform has yet shown strong interest, citing the high prices.

ICC in a predicament

This has further complicated the ICC's situation, leaving it with no clear options amid preparations for major tournaments. JioStar's financial situation can be gauged from the fact that the company has increased its provision for potential losses on its owner sports contracts (where expenses significantly exceed revenue) to ₹25,760 crore in 2024–25, double the previous year's ₹12,319 crore. Due to this significant loss, the company decided it could no longer continue with this expensive contract.

This situation poses a dual challenge.

This situation presents the ICC with a dual challenge: first, finding a reliable broadcast partner for a major tournament like the 2026 T20 World Cup, and second, securing a deal at a price acceptable to the market. If a new company fails to come forward, the broadcasting arrangement could be disrupted, impacting both ICC revenues and the tournament's reach. Overall, this entire matter represents an economic and strategic crisis for the ICC. The withdrawal of a major player like JioStar will not only impact media rights valuations but could also alter the future landscape of digital and TV broadcasting.