ICC suffers big loss of ₹167 Crores after hosting T20 World Cup 2024
The upcoming International Cricket Council (ICC) annual conference in Colombo is set to address two major issues. First is the financial losses from hosting the T20 World Cup 2024 in USA and second is the potential leadership change.
According to a report by PTI, the ICC faced significant financial losses of around USD 20 million (Rs 167 crore) while hosting the T20 World Cup in the USA. This unexpected expense is expected to be a major topic of discussion during the conference, even though it isn’t officially listed on the agenda. It will likely be addressed as a “post-event report.”
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The T20 World Cup 2024, including the highly anticipated India vs Pakistan match played in New York, took place primarily in the USA. The reasons for the losses haven’t been disclosed but it raises questions about the financial viability of hosting the tournament in a non-traditional cricket market.
ICC suffered losses of around USD 20 million (Rs 167 crore) for hosting the T20 World Cup 2024 games in the USA. [PTI] pic.twitter.com/hiHdD83wCe
— Don Cricket 🏏 (@doncricket_) July 18, 2024
Another significant point of discussion at the conference will be the possibility of BCCI secretary Jay Shah taking over the reins of the ICC from the current chairman, Greg Barclay. Reports suggest this is a major area of interest for many within the ICC.
However, there’s a hurdle. As per the BCCI constitution, Shah has one year remaining in his current role before a mandatory “cooling-off period” begins in 2025. This period prevents him from holding any immediate office in the BCCI.
The report mentions two potential scenarios:
- Change in ICC Chairmanship Term: One option being discussed is changing the ICC chairman’s term from 3 two-year terms to 2 three-year terms. This would allow Shah to complete his six-year tenure as BCCI secretary and seamlessly transition to the ICC chairman position in 2025 during his “cooling-off period.”
- Barclay’s Term Adjustment: Another possibility involves adjusting Barclay’s current term. If his tenure is extended to three years instead of the planned two, Shah could take over as ICC chairman in 2028 after completing his BCCI “cooling-off period” and potentially returning to the BCCI presidency afterward.
The Colombo conference promises to be a crucial one for the ICC. Addressing the financial losses and navigating the potential leadership change will be critical for the organization’s future stability and growth.
