Amid ongoing speculation regarding Jay Shah’s potential appointment as the International Cricket Council (ICC) Chairman, Disney Star is reportedly aiming to renegotiate the $3 billion broadcast deal it signed with ICC in August 2022.
As per media reports, this renegotiation deal comes as a result of the losses incurred in T20 World Cup 2024. Amid rising speculations of Shah’s takeover of ICC’s command, this discount discussion of more than $100 million can be on his top to-do list.
The $3 billion contract between ICC and Disney Star came into effect with the T20 World Cup held in the US and West Indies. Moreover, the broadcaster is reportedly seeking immediate relief from championship’s overall valuation, for multiple reasons.
The reports further stated that the India fixtures in World Cups are high-value events, and this led to considerable losses for the broadcaster.
As per reports, the low-scoring semifinal between Afghanistan and South Africa further impacted Disney-Star’s standing, raising questions about whether the ICC will compensate them for their losses. Additionally, the timing of the T20 World Cup matches and the prevalence of low-scoring games are believed to be significant concerns. The list of concerns included the tournament’s marketing, the timing of matches in the US, moreover the India-Pakistan match.
Now it has come to light that Star has reportedly written two letters to the ICC, raising the concerns that were also discussed during July’s Annual Conference in Colombo. Greg Barclay, the outgoing chairman, also engaged with ICC officials but the final decision will rest with the Board.
The details remain hazy at the moment since broadcast deals do not include any refund clauses, this leads to more speculations if the renegotiation will take place at all.
Before signing the four-year bid in August 2022, Disney Star had other agreements in progress. The broadcaster had an agreement with Zee TV, however, it did not pan out and Zee TV ended up withdrawing after its Sony merger fell through.
