The International Cricket Council (ICC) faced a significant financial setback following the 2024 T20 World Cup, incurring losses of approximately USD 20 million (Rs 167 crore). Hosting a portion of the tournament in the United States, a non-traditional cricketing nation, contributed to these losses. According to a Press Trust of India (PTI) report, this financial downturn is expected to be a major discussion point at the ICC Annual Conference in Colombo. Although not officially listed on the agenda, the matter will be reviewed in a post-event financial analysis.
The 2024 T20 World Cup was an ambitious project aimed at expanding cricket’s global reach, particularly in North America. Key matches, including the much-anticipated India vs. Pakistan clash, were held in New York. However, despite efforts to introduce cricket to a new audience, the event did not generate the expected financial returns.
5 Reasons Why the ICC Suffered USD 20 Million Losses
1. High Infrastructure Costs
Organizing an international tournament demands significant investment in infrastructure. In the USA, where cricket is not a mainstream sport, the ICC had to build or upgrade existing facilities to meet international standards. Temporary stadiums, practice venues, security arrangements, and broadcasting setups required extensive financial resources. These expenses exceeded initial estimates, leading to budget overruns.
2. Limited Local Audience and Low Ticket Sales
Cricket does not have the same widespread following in the USA as in countries like India, Australia, or England. The lack of an established fan base affected stadium attendance and ticket sales. Even marquee fixtures, such as India vs. Pakistan, did not generate the same crowd enthusiasm as they would in traditional cricketing nations. Additionally, expensive ticket prices may have deterred casual American sports fans from attending matches.
3. Broadcasting and Viewership Challenges
The time zone difference between the USA and cricket’s major markets created broadcasting challenges. Matches held in American time zones did not align well with prime-time viewing slots in India, Pakistan, and England, where cricket has a massive following. This affected television ratings and streaming revenues, leading to lower-than-expected broadcasting profits.
4. Marketing and Promotion Expenses
Promoting cricket in a new region required significant investment in marketing and fan engagement initiatives. The ICC had to create awareness, attract sponsors, and generate interest among a largely unfamiliar audience. Competing against well-established American sports like baseball, basketball, and American football proved difficult and costly. Despite extensive promotional campaigns, cricket failed to capture the mainstream American sports market.
5. Logistical and Operational Complexities
Hosting matches in multiple American cities presented logistical challenges. Managing travel, accommodations, security, and transportation for teams and officials significantly increased operational costs. Unforeseen expenses related to organizing games in different states contributed to financial losses. Ensuring smooth coordination between local authorities and international cricket administrators added complexity.
Conclusion
The ICC’s decision to host part of the 2024 T20 World Cup in the USA was a bold step toward globalizing the sport. However, financial losses indicate that cricket still faces significant hurdles in establishing itself in North America. Despite the setbacks, this experience may serve as a learning curve for future tournaments, helping the ICC refine its expansion strategy.