The International Cricket Council suffered losses of around USD 20 million (Rs 167 crore) for hosting the T20 World Cup 2024 games in the USA. The report claimed that it will be one of the major topics of discussion during the ICC Annual Conference starting on Friday in Colombo. While the topic is not part of the nine-point agenda of the Annual General Meeting (AGM), the report said that it will be discussed as a “post-event report”. A major part of the tournament was hosted in USA including the much-anticipated match between India and Pakistan that took place in New York.
The ICC’s decision to host a substantial portion of the tournament in the USA, including the high-profile India vs. Pakistan match in New York, did not yield the expected financial returns. The loss of Rs 167 crore has raised concerns about the strategic planning and execution of the event.
The financial loss is attributed to various factors, including logistical challenges, lower-than-expected ticket sales, and higher operational costs in the USA. This outcome has prompted the ICC to revisit their decision-making processes and explore ways to mitigate such risks in future tournaments.
The ICC Annual Conference, set to begin on Friday in Colombo, will address this financial loss as part of a “post-event report,” even though it is not listed in the nine-point agenda of the Annual General Meeting (AGM). The discussions are expected to focus on understanding the reasons behind the financial shortfall and identifying measures to prevent similar occurrences in the future.
