The International Cricket Council (ICC) faces a major financial crisis after Jio Star reportedly informed the organization that it cannot continue with the remaining two years of its broadcast rights contract for ICC events in India. 

 

According to media reports, Jio Star incurred heavy financial losses under the current four-year agreement.

 

Reports say Jio Star's early withdrawal has left the 2024-27 rights cycle incomplete, raising questions about how future ICC events will air or stream in India, particularly the T20 World Cup 2026, which India will host.

 

In response to the crisis, ICC has launched a fresh sales process for the 2026-29 broadcast rights with expectations to generate approximately $2.4 billion. 

 

The global body has reportedly contacted several major platforms including Sony Pictures Networks India (SPNI), Netflix and Amazon Prime, but no platform currently wants to sign an expensive deal. 

 

The report also reveals that Jio Star has increased its estimated potential losses in sports contracts for 2024-25 from PKR12,319 crore to PKR25,760 crore, highlighting the severe financial pressure from long-term expensive broadcast agreements.

 

Reports added that the situation points to a major structural challenge in India's sports broadcasting industry, where advertising revenue and subscription numbers cannot match the expenses of costly cricket event broadcast rights. 

 

This explains why even strong broadcasters like Jio Star now adopt a cautious approach toward long-term sports deals.

 

Experts say this development could also affect the pricing of Indian Premier League (IPL) broadcast deals in the future.