The T20 World Cup is about two months away from starting. Teams are preparing by experimenting with their squads and searching for new combinations. Cricket fans are discussing who will get a place in the World Cup squad. Amid all this, the International Cricket Council (ICC) has found itself in trouble.
They are now worried about how the World Cup matches will be broadcast live. This is because JioHotstar may terminate its contract with the ICC before the World Cup.
This organisation was contracted with the ICC from 2024 to 2027. But JioHotstar wants to exit midway through the contract. As a result, finding a new media partner before the World Cup is now a major challenge for the ICC.
Why does JioHotstar want to break the contract?
JioHotstar is taking this path mainly due to financial problems and its inability to meet the ICC's huge demands, as revealed in multiple reports. According to a report published in a popular English daily, JioHotstar has informed the ICC of its intention to break the four-year contract due to financial losses. The ICC had demanded $3 billion from them for this four-year contract, which amounts to approximately ₹27,034 crores in Indian currency.
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However, they had to face losses of approximately ₹12,319 crores in 2023-24. In the 2024-25 season, this increased to ₹25,760 crores. After this double loss from sports contracts, JioHotstar wants to step back. Not only that, JioHotstar has faced further losses after online betting and real money gaming were banned in India.
After learning of this decision, the ICC has been working hard to sell media rights from 2026 to 2029. The ICC is contacting organisations like Netflix, Sony Sports Network, and Amazon Prime Video. However, the ICC reportedly demanded $2.4 billion for this two-year contract. According to reports, no organisation showed interest due to this huge demand. Therefore, the ICC is in trouble before the World Cup.
