ICC suffer a huge Financial Loss during the Twenty20 World Cup.

For India, the T20 World Cup 2024 ended an 11-year trophy drought, but it was a financial disaster for the Indian Cricket Board (ICC).

According to PTI, the International Cricket Council (ICC) suffered a huge financial loss when hosting the T20 World Cup 2024 matches in the USA, losing about USD 20 million (Rs 167 crore).

Expectedly, this topic will come up frequently during the ICC Annual Conference, which gets underway in Colombo on Friday. The Annual General Meeting (AGM) will address it as a "post-event report," even though it is not on the nine-point agenda.

Losses in money from the T20 World Cup The T20 World Cup took place mostly in the United States, with the eagerly awaited India-Pakistan match taking place in New York. The meeting will involve a thorough examination of the monetary losses incurred. In an attempt to increase cricket's worldwide appeal, the ICC decided to hold important matches in the USA, but this choice came with unforeseen financial consequences.

Throughout the World Cup, rain forced the cancellation of numerous matches, and a large portion of those canceled games were in the USA because of cyclonic weather in Florida. As a result, ICC lost money from ticket sales for those games and sustained a large loss.

Is Jay Shah going to lead ICC? The prospective replacement of Greg Barclay as ICC chairman by Jay Shah, the secretary of the BCCI, is a crucial subject for discussion at the AGM. Everyone is highly interested in Shah taking over as head of the global organization, an ICC insider told PTI. 

The source stated, "It is not about how, but when. He has one more year as BCCI secretary before his Indian board cooling-off term begins in 2025 per the constitution." There is talk of extending the chairmanship tenure from three two-year terms to two three-year terms, which would facilitate Shah's seamless transfer from BCCI to ICC.