ICC suffers major financial loss during T20 World Cup

According to PTI, the International Cricket Council (ICC) encountered a substantial financial setback, losing approximately USD 20 million (Rs 167 crore) while hosting the T20 World Cup 2024 games in the USA.

This issue is expected to be a major discussion point at the ICC Annual Conference starting Friday in Colombo. While it is not on the nine-point agenda of the Annual General Meeting (AGM), it will be addressed as part of a “post-event report.”

Financial losses from the T20 World Cup

A significant portion of the T20 World Cup, including the highly anticipated India-Pakistan match in New York, was held in the USA. The financial losses incurred will be scrutinized during the conference. The ICC’s decision to host major matches in the USA aimed to expand cricket’s global reach but resulted in unexpected financial challenges.

Many matches throughout the World Cup were abandoned due to rain, with a significant number of cancellations occurring in the USA due to cyclonic weather in Florida. As a result, the ICC lost ticket revenues from those matches and suffered a substantial loss.

Will Jay Shah lead the ICC?

Another critical topic for discussion during the AGM is the potential replacement of ICC chairman Greg Barclay by BCCI secretary Jay Shah. According to PTI, an ICC source mentioned that there is keen interest in Shah’s transition to the leadership of the world body.

“It is not about how but when, as he still has one year left as BCCI secretary before his cooling-off period in the Indian board starts in 2025 as per the constitution,” the source said.

There is speculation about changing the chairmanship term from three terms of two years each to two terms of three years each, which would facilitate Shah’s transition from BCCI to ICC. If Shah emerges as a contender for the ICC role, current chairman Greg Barclay may have to leave his post before the end of his tenure.