The $250 million no-show: The World Cup may lose its biggest payday
An India-Pakistan fixture in an ICC event generates revenue to the tune of a staggering $250 million (over INR2,200 crore), as per some estimates and the absence of the cash-cow fixture from the upcoming T20 World Cup is certain to cause heavy losses to all stakeholders.
Such is the pull of the contest between the arch-rivals, who only play in multi team competitions due to the tense relations between the two countries, that the ICC places them in the same pool in every world event.On Sunday, the Pakistan Government announced its team’s boycott of the marquee clash in Colombo on February 15. If Pakistan remain adamant, they would risk losing millions in revenues and a no-show would cause significant financial damage to the ICC coffers and India media rights holder JioStar which is already trying to renegotiate a $3 billion deal with the world body.
The host broadcaster could incur advertisement revenue losses in the range of INR200 crore to INR250 crore for a marquee game whose 10 second commercial slot can cost up to INR40 lakh. While a walkover would hand full points to India, the ICC retains the authority to impose financial penalties on the PCB.
A former ICC and PCB communications head, Sami-ul-Hasan Burney, summed up the magnitude of the money riding on just one game.“As regards the sanctions or the losses, as I said, the one match is costing $250 million (everything accounted for not just broadcaster’s loss). Pakistan’s annual revenue is $35.5 million, so there is a big, big difference,” he said.
The Sydney Morning Herald quoted industry sources with knowledge of confidential negotiations on the costs involved in the game with a billion plus audience.
Each game between India and Pakistan has an estimated value of around $250 million, it stated. The tone and tenor of ICC’s statement following the Pakistan Government announcement also underlined the undisputed value of the contest.
“This position of selective participation is difficult to reconcile with the fundamental premise of a global sporting event where all qualified teams are expected to compete on equal terms per the event schedule,” the ICC said. “ICC tournaments are built on sporting integrity, competitiveness, consistency and fairness, and selective participation undermines the spirit and sanctity of the competitions.” Amid the drama, Pakistan left for Colombo to play its other games in the showpiece starting February 7.
With the ICC, PCB and BCCI agreeing to a hybrid model for the India-Pakistan games till 2027, the Pakistan board would find it tough to justify the selective pullout.
It all started with Bangladesh pacer Mustafizur Rahman’s removal from the IPL on BCCI instructions, leading to the withdrawal of the national team from ICC event co-hosted by India and Sri Lanka.
