Ahead of the ICC Men’s T20 World Cup 2026 in India and Sri Lanka, JioStar has informed the International Cricket Council (ICC) that it wants to end the three-year media rights agreement because of financial losses, as the reports of the Economic Times have claimed. It has also been reported that the Reliance Industries-controlled JioStar has told ICC about the decision.

The JioStar informed that they can’t continue for the remaining two years for a price of $3-billion contract, which ends in 2027, which has left the International Cricket Council (ICC) to look for other media partners. The report has also shed light on how the ICC has approached other platforms, including the Sony Sports Network, Netflix, and Amazon Prime.

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The report also noted that the ICC has begun a fresh process for the 2026-2029 period for approximately INR 2.4 billion. The Reliance Industries latest annual report, JioStar, the Reliance-Disney joint venture, has also given its verdict on the contracts, leaping to a staggering INR 25760 crore in FY 2024-25, more than double the INR 12319 crore set aside just a year earlier.

ICC searches for new media partner as JioStar decides to exit ahead of new cycle

The jump is rooted in the company’s admission that the revenue from the long-duration rights deals may then fall short of covering their costs. Even with the hefty financial buffer, the broadcaster clocked a skinny profit of INR 18 crore, which has made a cautious rebound from the INR 12548 crore less reported in FY 2023-24.

The advertising, subscriptions, and syndication helped the revenues climb to INR 21044 crore from INR 20097 crore, and the operating costs remained steep at INR 17826 crore. As per the reports, the JioStar has commanded an estimated 34% share in television entertainment and over 85% in sports viewership.

Star made a renegotiation of its contract for the Men’s T20 World Cup 2024, held in the United States of America and the West Indies, to promote the game in the new regions, but that grasped a very few Indian viewers due to the match timings.