The International Cricket Council and JioStar issued a joint statement on Friday dismissing reports that the Indian broadcaster had sought to withdraw from their multi-billion dollar media rights agreement. The clarification comes less than a week before preparations intensify for the T20 World Cup 2026, scheduled to begin February 7 in India and Sri Lanka.

"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," the statement read. "Any suggestion that JioStar has withdrawn from the agreement is incorrect."

Speculation Amid Financial Pressures

The denial follows reports that emerged earlier this month claiming JioStar had formally notified the ICC of its intent to exit the four-year contract valued at USD 3 billion. According to media reports, the broadcaster cited mounting financial losses, with provisions for expected losses on sports contracts more than doubling to Rs 25,760 crore in 2024-25 from Rs 12,319 crore the previous year.

Reports had also suggested the ICC approached alternative broadcasters, including Sony Pictures Network India, Netflix, and Prime Video, about potentially taking over the rights. The speculation intensified against the backdrop of broader challenges facing India's sports broadcasting sector, including the government's ban on real-money gaming platforms that had been major advertisers.

Preparations Continue for T20 World Cup

Both organisations emphasised that preparations for upcoming ICC events are progressing as planned. "JioStar is fully committed to honour its contractual obligations in letter and spirit," the statement said. The broadcaster will continue coverage of the T20 World Cup 2026 and other ICC tournaments through 2027.

The 20-team T20 World Cup will be played across eight venues in India and Sri Lanka from February 7 to March 8, with the final scheduled for Ahmedabad's Narendra Modi Stadium. Pakistan will play all their matches in Sri Lanka following an earlier agreement between cricket boards.

The joint statement noted there would be "no impact on viewers, advertisers, or industry partners" and that both parties "maintain regular communication on operational, commercial and strategic matters".