The ICC just got hit with a massive problem that nobody saw coming this year. JioStar wants out of their media rights contract with two years still left to run. The Reliance-owned company is bleeding money badly and can’t afford to continue the deal.
This puts the ICC in a tough spot heading into the 2026 T20 World Cup. They’re scrambling to find new broadcasters willing to pay billions for cricket rights.
Why JioStar Wants to Walk Away
JioStar lost a ₹12,548 crore last year, which is absolutely staggering by any measure. The ICC media rights deal cost them way more than they expected initially. Their sports contracts provisions doubled during the 2024-25 financial year, making things even worse. The Indian government banned real-money gaming ads. This killed a huge revenue source for them.
Fantasy sports platforms were pumping massive advertising money into JioStar’s cricket broadcasts before the ban. When those advertisers vanished overnight, JioStar lost around $840 million in potential revenue instantly. That’s the kind of financial hole no company wants to find themselves stuck in.
Who Might Take Over the Broadcasting Rights
The ICC already started shopping their media rights around to other major players recently. They’re asking for $2.4 billion for the 2026-29 cycle, which sounds like serious money. That’s actually lower than the previous $3 billion valuation for the 2024-27 rights though.
Sony, Netflix, and Amazon Prime Video all got approached about taking over the deal. None of them have shown any real interest so far because the price tag scares them. The ICC needs someone to step up fast or they’re in real trouble here.
What Happens If Nobody Steps Up
Here’s the catch – if the ICC can’t find a replacement broadcaster soon enough. JioStar will be forced to honor their contract through 2027 no matter what happens. They signed the deal and can’t just walk away without someone else taking over. The ICC holds all the cards in this negotiation right now actually.
