ICC suffers Rs556 crore loss from T20 World Cup 2024

The International Cricket Council (ICC) has incurred a massive loss of $20 million (over Rs556 crore) from the T20 World Cup 2024, co-hosted by the USA and West Indies.

According to Indian media reports, the ICC's financial and operational matters will come under scrutiny at the upcoming annual conference in Sri Lanka this month.

NDTV reported that the members of the international cricket body are expected to raise questions about the mega event's expenses and management.

Reports suggested that poor management and efforts to promote cricket in America have contributed to the significant loss.

The ICC has constituted an independent committee to investigate the matter and submit a report.

The publication further reported that Board of Control for Cricket in India (BCCI) secretary Jay Shah is likely to replace Greg Barclay as the ICC chairman, which is the major agenda of AGM in Colombo.

"It is not about how but when, as he still has one year left as BCCI secretary before his cooling off period in Indian board starts in 2025 as per constitution. However, if he has to take over in 2025, then Barclay can't complete his third term of two years from December 2024 to December 2026," NDTV reported citing ICC sources.

"There is a school of thought that what if ICC's chairmanship term changes from three terms of two years each to two terms of three years, so the cumulative term can remain six years," it added.