With just two months remaining for the 2026 T20 World Cup, the International Cricket Council (ICC) have been hit with a major shock as they need to find a new broadcaster after it has emerged that the current rights holder Jiostar is looking for an exit.
As per a report by the Economic Times, the Reliance and Disney Star group-owned conglomerate has sent a formal notice to the world cricket governing body to end the deal with two years left on the deal, which was signed in 2024 till 2027.
The report further states that the ICC are now searching for a new broadcaster for the 2026-29 cycle. ICC are looking at an estimated value of $2.4 billion (Rs. 21633 crore approx). This will be less than the current deal for the 2024-27 cycle purchased by Jiostar, which is of $3 billion (Rs. 27042 crore approx).
Why Are Jiostar Seeking To Exit Deal?
The published information has revealed that Jiostar’s losses from sports contracts doubled in 2024-25 to Rs. 25,760 crore. In 2023-24, the figure was reported to be 12,319 crore.
The Ban on real-money gaming (RMG) apps (Dream11, Mycircle, etc) has been described as a key reason after the Indian government passed the Protection and Regulation of Online Gaming Act 2025, with the advertising market now seeing a gap of $840 million (Rs. 7000 crore).
ICC Struggles To Find Broadcaster
The report states that the ICC have reached out to Sony, Amazon and Netflix, but none of them have shown interest due to the high price despite the reduction from the previous cycle. Jiostar will have to continue as the broadcaster for ICC events till 2027 if no broadcaster is found.
Before the T20 World Cup, the 2026 Men’s U-19 World Cup will also be held next month. The ongoing 2023-27 cycle media rights cycle also includes the 2026 Women’s T20 World Cup and 2027 Men’s Cricket World Cup.