Here’s the massive financial loss ICC suffered during T20 World Cup 2024

The T20 World Cup 2024, co-hosted by the USA and West Indies, concluded with Team India emerging victorious. The tournament saw cricket enthusiasts from around the world flocking to the host nations, with key matches, including the much-anticipated India-Pakistan clash, held in New York.

In a thrilling final, India clinched their second T20 World Cup title by defeating South Africa, marking a significant milestone under the captaincy of Rohit Sharma.

Financial losses for the ICC

Despite the successful execution of the tournament, the International Cricket Council (ICC) suffered a substantial financial setback. According to a report by PTI, the ICC incurred losses amounting to approximately USD 20 million (INR 167 crore). This financial loss is poised to be a major topic of discussion during the ICC Annual Conference, which is set to commence on Friday in Colombo. Although not a part of the official nine-point agenda of the Annual General Meeting (AGM), the ‘post-event report’ is expected to highlight the financial implications of hosting the tournament in the USA.

Possible reasons behind the financial loss

Several factors are believed to have contributed to the ICC’s financial losses during the T20 World Cup 2024. Hosting a major portion of the tournament in the USA, a relatively new market for cricket, posed significant logistical and infrastructural challenges. The costs associated with organizing matches in venues not traditionally equipped for cricket, combined with lower-than-expected attendance and revenue from local sponsorships, played a critical role in the financial downturn. Additionally, the expenses incurred in promoting cricket in a non-traditional region might have outweighed the immediate financial benefits.

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The thrilling final

The tournament’s climax saw a captivating final between India and South Africa. India secured their second T20 World Cup title in a nail-biting contest, with standout performances from key players. The victory was especially momentous as it marked India’s first T20 World Cup win under Rohit Sharma‘s leadership. Following the triumphant campaign, both Rohit Sharma and star batter Virat Kohli announced their retirements from the shortest format, leaving an indelible mark on the tournament’s legacy.

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