Two years after signing a $3 billion broadcast deal with International Cricket Council (ICC), Disney Star is trying to renegotiate the price with the governing body of world cricket. Apart from the renegotiation, Star is also seeking an immediate relief on the value of the recently-concluded T20 World Cup, citing multiple factors. (More Cricket News)
A Cricbuzz report states that Star has written two letters to the ICC over reducing the overall value of the broadcast deal and also seeking immediate discount on the T20 World Cup delivery. The issue was also discussed during ICC's last meeting in Colombo and will be one of the big issues in front of Jay Shah in case he is appointed the chairman of the body.
Star reportedly is trying to get a $100mn discount on the T20 World Cup citing various reasons but most prominently the washout of the India-Canada game in Lauderhill, Florida, on June 15. Value of matches involving India is significantly higher than others and Star believes that even though there were a few more washouts during the T20 showpiece event but the India-Canada abandonment hurt them the most.
Star has also emphasised on the low-scoring nature of the T20 World Cup. The first semifinal between Afghanistan and South Africa and the marquee India-Pakistan group match have been reportedly mentioned in Star's bid to get a financial relief on the T20 World Cup.
Another concern raised by Star is the poor marketing of the T20 World Cup.
The T20 World Cup 2024 was won by India which became their first ICC trophy since 2013.
The report states that broadcast deals usually do not include refund clauses and the final decision on the matter will rest with the ICC Board, the all-powerful decision-making body.
The T20 World Cup discount matter is separate from the overall reduction in value of the $3bn deal.
When Star had signed the $3bn broadcast deal with ICC, it had entered in an agreement to with Zee. However, Zee withdrew from its commitment after its planned merger with Sony failed. This has put the entire bill on Star's shoulders which it wants to renegotiate with ICC.
