Mukesh Ambani’s Reliance-owned JioStar has reportedly informed the International Cricket Council (ICC) that it wants to pull out from its media rights contract for cricket events, due to financial challenges.

As per a report in the Economic Times, JioStar have conveyed to the ICC that it will not be able to fulfil the remaining period of its USD 3 billion broadcast rights contract that ends in 2027. JioStar had acquired the media rights in India from the ICC for the period 2024-2027 for USD 3 billion. However, according to the broadcaster, it suffered huge losses, mainly from the ICC T20 World Cup 2024 and the ICC Champions Trophy 2025. It is learnt that JioStar’s sports vertical’s content losses shot up from around Rs 12,000 crore to a whopping Rs 25,000 crore in a single financial year.