Reliance's JioStar wants out of $3bn ICC cricket media deal
JioStar, owned by Reliance, is looking to exit its massive $3 billion media-rights deal with the International Cricket Council (ICC) for India.
With two years left on the contract and the 2026 T20 World Cup around the corner, JioStar has informed the ICC that mounting losses have made the deal unsustainable.
Why is JioStar backing out?
JioStar's financial troubles got worse this year—losses doubled, and a government ban on real-money gaming ads wiped out a huge chunk of revenue.
Add falling ad income, a weak rupee making payments tougher, and fights over sublicensing deals, and sticking with the contract just didn't make sense anymore.
What happens next?
The ICC has reopened bidding for India's media rights at $2.4 billion for 2026-29, but big names like Sony, Netflix, and Amazon aren't rushing in—the market just isn't as hot right now.
If no one steps up soon, JioStar might still be stuck with its original contract until 2027.