International Cricket Council (ICC) hit a roadblock just ahead of the ICC T20 World Cup 2026 as JioStar, who were holding the contract of ICC's media rights for the 2024-27 cycle, are seeking an exit from the deal. JioStar have notified ICC that they intends to withdraw from the media rights deal reportedly due to significant financial losses. for the tournaments. JioStar signed the contract in 2024 and this development takes place despite two years remaining on the four-year contract. The valuation for the earlier deal was at 3 billion USD which is now voided due to JioStar's exist. ICC has restarted the sale of media rights in India for the 2026–29 cycle, seeking $2.4 billion, according to reports from the Economic Times. Venkatesh Prasad Elected As New KSCA President, Team Game Changers Grab Major Posts in Election.

The report also suggested that the ICC has approached Sony Pictures Networks India (SPNI), Netflix, and Amazon Prime Video as alternatives of JioStar, but none showed interest due to the high pricing. JioStar has been facing heavy losses after the Indian government's ban on real-money gaming, which had been the single largest advertiser in the sport. The report also indicated that JioStar's provisions for expected losses on sports contracts got doubled to 25,760 Crore INR. JioStar are expecting less revenue compared to costs in long-term sports and content rights and as a result, they are unwilling to fulfill the earlier contract.

Amid the newly approached broadcasters by ICC, Sony Pictures Network considers ICC's revised value of 2.4 Billion USD as too high a price. SPIN currently hold the Asian Cricket Council package worth around 170 million USD, New Zealand Cricket rights valued at 100 million USD, and England and Wales Cricket Board rights exceeding 200 million USD. Despite that, they are facing the increased pressure on Indian Sports Media and as a result they want to approach this deal offered by ICC on a cautious note. Trishul-Shaped Floodlights Installed in Under-Construction Cricket Stadium in Varanasi, Ground Design to Have More Symbols Associated to Lord Mahadev (Watch Video).

Netflix and Amazon Prime are yet to be big players in the Sports media market with the former having only a deal with WWE and the latter having the New Zealand Cricket rights. They are unlikely to make such a big commitment at this stage. If ICC is unable to find a new broadcaster, JioStar will have no option but to fulfil the remaining contract until 2027.

 

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