JioStar, the heavyweight Indian pay-TV broadcaster, has told the International Cricket Council (ICC) that it needs to cut short the rights deal between the parties by two years, according to reports.
The Reliance Industries-controlled network holds Indian broadcast rights to major ICC events for the 2024 through 2027 cycle, but has now told the ICC – according to The Economic Times in India – that it needs to exit the deal now because of serious financial issues.
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This comes with the 2026 ICC Men's T20 World Cup – to be hosted by India and Sri Lanka – a little over two months away.
The current JioStar-ICC rights tie-up is worth $3.1 billion overall and was unveiled in late 2022.
It has also now been reported that the ICC has started approaching other networks and outlets regarding a potential change of partner in the country, and, indeed, that it is asking for bids across a new cycle, starting next year and running to 2029 – two years later than the cycle would have concluded.
India is by far and away cricket's biggest market, and any instability in the ICC's broadcast rights revenue from that country will cause serious worry at the game's governing body. Indeed, this news comes with the ICC already expecting a 30% drop in revenue from its next media rights contracts in other markets, starting in 2028.
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By GlobalDataThe Economic Times has suggested that the ICC is seeking $2.4 billion from an Indian broadcast partner for the next three years, and that the ICC has already approached Sony Pictures Networks, Netflix, and Amazon Prime Video.
Sony is the other prominent rights-holder of cricket in India.
However, none of these have – as yet – expressed serious interest.
JioStar would have to fulfil the contract via whatever means necessary if an alternative partner cannot be found.
That broadcaster's losses from sports rights fees have more than doubled over the last financial year, with the Indian ban on gambling and fantasy sports companies having severely affected its advertising revenue – companies such as Dream11 have now had to shut down their real money operations in the country.
The amount brands such as Dream11 had previously been paying to JioStar has been valued at around $840 million.
Meanwhile, the ICC has begun a tender process for hospitality services at the T20 World Cup early next year.
An invitation to tender (ITT) has been launched for a hospitality services provider to work at that tournament.
The process, the ICC has said, is "intended to attract responses from companies with extensive experience in providing premium hospitality guest experiences at global sporting events."
The deadline for companies to announce their "intention to respond to the ITT" is December 10, and they should do so by emailing alannah.white@icc-cricket.com.
The ICC plans on making a final appointment by December 29.
The 20-team Men's T20 World Cup, to be held across eight Indian and Sri Lankan venues, will take place between February 7 and March 8.
