In a tremendous clarification that finishes up to days of speculation, the ICC and JioStar have confirmed that they are very much in their $3 billion media rights deal which lasts for four years.
There were rumors that JioStar might lure away from the agreement but nevertheless, the two companies have published statements denying the issue very strongly.
ICC-JioStar collaboration to last till the end of the contract
When JioStar, India’s largest digital and broadcasting network, was said to be the reason for the confusion that had been created, it was one of the reasons why JioStar, planning to walk away from the deal, was struggling with financial problems.
The reports also suggested that JioStar was not happy as they were not able to cope up with the losses in the T20 World Cup 2024 and the Champions Trophy 2025 and hence thought the deal was overvalued.
As the 2026 ICC Men’s T20 World Cup was on the cards, social media was filled with questions if the fans would lose the access to ICC events starting next year, particularly the Men’s T20 World Cup.
Such was the situation that the ICC and JioStar had to confront the issue straight away.
In a joint announcement on the 12th of December, the two companies reaffirmed that their 3 billion dollar partnership is strong and flourishing.
JioStar announced that it is totally dedicated to the execution of its contractual obligations in letter and spirit and also that the company is intent on delivering continuous world-class ICC event coverage to millions of Indian viewers.
“The International Cricket Council (ICC) and JioStar have acknowledged the latest media articles related to the status of the ICC’s media rights deal in India. However, these articles do not denote the standpoint of either party. The contract between the ICC and JioStar is valid and active, with JioStar being the ICC’s media rights partner in India. Any claim of JioStar backing out of the agreement is false,” the two entities declared in an ICC update.
The ICC reiterated this communication, saying that recent news reports do not mirror the respective organizations’ situations. They stated that the contract which is applicable until 2027 is still intact and any speculation regarding JioStar’s withdrawal is inaccurate and misleading.
All about ICC’s media rights deal with JioStar
ICC entrusted its broadcasting rights to JioStar for four years starting from 2024 up to 2027. This right contract is enormous, with an approximate value of USD 3 billion (around ₹2.6 lakh crore).
Thus, it becomes one of the world’s costliest cricket broadcast deals, particularly for the rights of one country.
Moreover, almost 80% of ICC’s revenue comes from India, thus selling rights here at such a rate is a clear indication of the Indian market’s significance to global cricket..
However, in spite of the high price, JioStar has experienced a significant financial loss through the deal. In its account, the company reported that the amount set aside for losses from sports contracts rose from approximately ₹12,319 crores to ₹25,760 crores in just one year. This increase was more than double and was primarily due to commitments made for ICC rights.
