It is one of the biggest broadcasting setbacks the game's global body has suffered in years, coming just months before the 2026 ICC Men's T20 World Cup. JioStar, the main rights holder in India, has formally communicated to the ICC that it is unable to honour the last two years of its four-year media rights deal. The deal, estimated to be worth close to USD 3 billion for India alone, was meant to run until 2027. The company has blamed the increasing losses from sports content and sharp drop in advertising income. JioStar wants to walk away from the contract early despite still being legally tied to it until the ICC finds another buyer. Why JioStar Pulled Out: Losses Doubled in One Year A look at JioStar's books shows the gravity of the situation. The company's provision for expected loss from sports properties more than doubled in 2024-25. It jumped from ₹12,319 crore to ₹25,760 crore in a span of just one year. That would indicate revenues coming in from advertisements and subscriptions were hardly sufficient to meet the cost of acquiring and servicing cricket rights. The problem grew even bigger after India banned real-money gaming in early 2025. The gaming sector had been the biggest advertiser in cricket. Industry experts estimate this policy change removed almost US$840 million worth of ad money from the market. Other brands have not stepped in to fill this gap. Also Read | Modern cricket gear for performance, fitness, and batting analytics ICC Offers New Tender, But Broadcasters Stay Away With JioStar withdrawing, the ICC reopened bidding for the 2026-29 cycle, trying to get about USD 2.4 billion. The ICC has spoken with Sony Pictures Networks India, Netflix, and Amazon Prime Video. But all three are said to be reluctant because the price is too high and the risk too large. That means, at present, ICC still has no confirmed broadcaster for India. This seriously raises several questions as to how the 2026 T20 World Cup, to be hosted by India along with Sri Lanka, would be seen by the Indian fans. Key Numbers Behind the Crisis Item Value Notes Original ICC India deal $3 billion JioStar inherited this after merger ICC target for new cycle $2.4 billion Bid reopened for 2026–29 JioStar loss provisions 2023-24 ₹12,319 crore Previous year JioStar loss provisions 2024-25 ₹25,760 crore More than doubled Loss of ad money after gaming ban $840 million Biggest hit to revenue Sony reported bid $1.4 billion TV + digital Viacom18 earlier bid $1 billion Standalone digital ICC surplus in 2024 $474 million Shows global strength Also Read | India Keeps Shami Out Citing Fitness, but His Domestic Stats Suggest Otherwise India's Role: The Backbone of ICC Revenue India generates nearly 80% of ICC's global revenue. This makes the Indian media-rights deal extremely important. The inability to secure a broadcaster will hit not only the World Cup but also ICC's overall financial stability. Also, the merger of Star India and Viacom18 into JioStar has changed the dynamics of the Indian broadcast market: there remain only two significant players, namely JioStar and Sony, thereby reducing competition and thus ICC's options. What Happens Now? The biggest fear for fans is whether the 2026 T20 World Cup will be broadcast live in India or not. The ICC may need to lessen the price for the rights or offer flexible terms if it does not find a buyer soon. Broadcasters are unlikely to take risks unless they are sure they can recover costs. Advertisers too are cautious because of the changing market. The ICC might still be legally protected since JioStar remains obligated to the contract until a replacement steps in. But with time running out, the broadcast plan for one of cricket's biggest events hangs in the balance.