There has been much speculation over the last few days whether JioStar will pull out of its multi-billion-dollar ICC deal, but the ground reality seems far more complex than mere social media chatter.
On Tuesday evening, at 6:38 PM IST, JioStar published their teaser for the 2026 T20 World Cup seeming contradiction to rising rumours of a probable pullout from its four-year arrangement with the International Cricket Council (ICC).
Marketing Push vs Exit Rumours: What Doesn’t Add Up
Industry insiders say this is contradictory to unveil a big promotional campaign while reportedly considering an exit from a $3 billion contract.
Analysts say such agreements are “watertight,” supported as they are by stringent clauses and bank guarantees, implying that an abrupt departure is unlikely and costly.
A Longstanding Relationship Built Over Decades
JioStar—earlier known as Star Sports before the merger a year ago—has been in a deal with ICC since 2007, much before it struck a deal with BCCI in 2011 and IPL in 2018.
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Given that it is a very long-standing, mutually beneficial relationship, neither party is likely to allow the situation to deteriorate into legal complications or arbitration.
The Overpriced Nature of the ICC Deal
One undeniable reality in present times is that the ICC deal is overpriced.
The USD 3 billion deal was inherited by Jio after its merger with Star.
The second highest bid at USD 1.6 billion came from Sony.
Jio had bid only USD 900 million.
Naturally, the financial burden is immense. Sources confirm that JioStar has communicated these concerns to the ICC, with both sides in continuous dialogue. The challenge now, with two years left in the cycle, is finding a sustainable compromise.
ICC’s Parallel Outreach to Other Broadcasters
According to reports, in an unexpected development, the ICC has reached out to other major players, including Sony Pictures Networks, Amazon, and notably Netflix, about its global cricket properties.
That is a unique approach, especially as Netflix is in the process of completing an acquisition of Warner Bros. and Discovery, which would bring sports assets into its ecosystem for the first time. However, experts believe none of these companies have the capacity presently to replace a giant like JioStar.
Why the ICC’s Hands May Be Tied
Almost every ICC member board, with the exception of India and England, is wholly dependent upon their annual revenue share from the global rights cycle. Those funds are already baked into budgets for the next few years. This makes a sudden restructuring of the ICC deal financially risky for many member nations.
Unlikely that JioStar will fully exit
A complete withdrawal is improbable despite the reported losses. JioStar and the ICC have been jointly planning events scheduled next year and remain engaged in negotiations leading towards a middle path.
According to industry analysts, this strong position gives JioStar the leverage to seek concessions-something that could shape the final resolution of the ICC deal. A spokesperson at JioStar declined comment on the matter.
ICC Indicates Lower Revenues in Coming Rights Cycle
The ICC has added further complexity to the mix by warning its members of a potential 30% fall in media-rights revenues from 2028 onwards. A document from Cricket Netherlands, for instance, notes this slump explicitly, encourages boards to brace for reduced funding, and makes a call to concentrate on domestic and high-performance cricket.
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