ICC and JioStar dismiss exit rumors, affirm four-year partnership

The International Cricket Council (ICC) and JioStar have dismissed reports of an exit from their media-rights agreement, reaffirming that the four-year deal is still in place.

The International Cricket Council (ICC) and JioStar have denied reports suggesting an exit from their media-rights agreement, confirming that the four-year deal remains intact. Earlier, the Economic Times had reported that Reliance-owned JioStar was planning to withdraw from its four-year India media-rights contract ahead of the 2026 T20 World Cup, citing huge financial losses.

According to the report, JioStar faced estimated losses of Rs 25,760 crore in 2024-25, up from Rs 12,319 crore the previous year, and was considering ending the deal two years early.

According to Cricbuzz, both the ICC and JioStar are committed to continuing their long-term partnership and have dismissed any claims that the Reliance-owned company plans to leave the four-year, 3 billion dollars agreement.

“JIoStar is fully committed to honour its contractual obligations in letter and spirit. Both organisations remain focused on delivering uninterrupted, world-class coverage of upcoming ICC events to fans across India, including the ICC Men’s T20 World Cup, one of the sport’s most anticipated global tournaments,” the official statement, reported by Cricbuzz on Friday (December 12), came just days after media reports suggested that the deal, which runs until 2027, might be ended early.

“The ICC and JioStar have noted recent media reports concerning the status of the ICC’s media rights agreement in India. These reports do not reflect the position of either organisation. The existing agreement between the ICC and JioStar remains fully in force, and JioStar continues as the ICC’s official media rights partner in India. Any suggestion that JioStar has withdrawn from the agreement is incorrect,” the statement read.

“Preparations for these (T20 World Cup) events are progressing exactly as planned, and there is no impact on viewers, advertisers, or industry partners. ICC and JioStar, as long-term commercial partners, maintain regular communication on operational, commercial and strategic matters focused on the role the partnership can play in growing the sport,” the statement further stated.

JioStar secured the ICC media rights for 2024–2027, a deal worth 3 billion dollars, guaranteeing one major men’s global tournament each year.

Star India reported a net loss of around Rs 12,548 crore for the year ending March 31, 2024, before merging with Viacom18. Most of this loss came from a Rs 12,319 crore provision for the ICC media rights, according to regulatory filings.

Additionally, JioStar has been heavily impacted by the government’s complete ban on real-money gaming and fantasy sports platforms, resulting in a loss of about 840 million dollars (Rs 7,000 crore) for the Reliance subsidiary.