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With less than two months to go for Men’s T20 World Cup 2026, the International Cricket Council (ICC) faces a setback with JioStar, controlled by Reliance Industries, informing them about intention to withdraw media rights deal for the remainder of the four-year contract. As per a report by Economic Times, JioStar has faced financial losses leading to the premature end to the four-year contract which is yet to be finalised.
After JioStar's formal notice, the ICC has already started taking measures to sell the media rights for the 2026-2029 cycle. The apex cricket board is seeking 2.4 billion dollars. This is a downgrade from ICC's 2024-27 rights (3 billion dollars), which featured a minimum of one men's major tournament every year.
Major streaming platforms approached by ICC
As per the report, Sony Pictures Networks India (SPNI), Netflix and Amazon Prime Video have been approached. However, none of them have shown any interest yet as a result of high pricing.
While Sony has been broadcasting various sports on its streaming platforms, the other two have a limited share in India. Netflix broadcasts WWE which is a part of 5 billion dollar global deal whereas Prime Video has been broadcasting New Zealand's home matches. The partnership is scheduled to end early in 2026. Also, its ICC rights of broadcasting in Australia will end in 2027.
JioStar to continue contract despite losses?
In case the ICC is unable to finalise a deal in time, JioStar will have to complete its obligation till 2027 despite incurring losses. JioStar's financial constraints have increased after the government banned real-money gaming. Dream11’s sponsorship came to an end earlier this year with Apollo Tyres becoming the new jersey sponsor.
In addition, the Indian rupee’s value taking a hit is another reason for JioStar’s early pullout, especially because ICC takes payment in US dollars.
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