The International Cricket Council (ICC) has reportedly incurred loses to the tune of $20 million for hosting the T20 World Cup 2024 in the United States of America (USA).
According to Indian media outlets, the loses for hosting the marquee event in USA will be a major point of discussion in the upcoming ICC Annual Conference.
It is pertinent to mention that USA hosted the majority of the tournament with a few games played in West Indies.
The high-profile group game between Pakistan and India was also played in New York.
According to Indian media outlets, hosting a major part of the T20 World Cup 2024 in the USA contributed to the ICC’s financial losses.
Read more: T20 World Cup 2024: Highest-ever prize amount announced
Reports said that the USA is a relatively new market for cricket which posed significant logistical and infrastructural challenges.
Additionally, additional expenses were incurred for organising cricket matches on venues not equipped for the game, lower-than-expected attendance and lack of revenue from local sponsorships played a major role in the financial loses.
Likewise, it is believed that expenses incurred in promoting cricket in the region have also contributed to an increase in the expenditure.
Meanwhile, the International Cricket Council (ICC) has constituted an independent committee to ascertain the facts behind the loses and furnish a report to the cricket-governing body.
It is pertinent to mention that India on June 29 lifted the T20 World Cup 2024 trophy after beating South Africa by seven runs at Kensington Oval.
The Rohit Sharma-led side, who lost in the finals of the World Test Championship and the 50-overs home World Cup last year, managed to book South Africa at 169/8, defeating the Proteas by seven runs.
.){kind=link}