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The International Cricket Council, which organized the recently concluded T20 World Cup 2024 in the United States and West Indies, has incurred a staggering loss of over 160 crore rupees. Read on to know why the ICC faced a loss of 160 crores in the T20 World Cup 2024.
The ICC T20 World Cup 2024 was a 55-match affair. The competition was held from 1 June till 29 June between 20 teams. The tournament was jointly hosted by the USA and West Indies, with the group stage matches taking place in the USA.
How the ICC incurred a 160 crore loss
In true ICC fashion, the T20 World Cup 2024 was hosted with pomp and show. There were pop up stadiums introduced in the USA, to promote cricket in the country. The Nassau County International Cricket Stadium in New York was one such Stadium.
The Times of India reported that the ICC’s decision to host the T20 World Cup 2024 in the US to promote cricket led to an unexpected financial loss of over INR 160 crores.
The month-long tournament featured 10 teams playing at three US venues: Nassau County Stadium in New York, Grand Prairie Stadium in Texas, and Central Broward Park in Lauderhill.
The event was thrilling, drawing massive crowds, especially during the matches involving the home team, the US, as well as India, Pakistan, and others. However, this was not enough to manage the costs of organising the event between 20 teams.
Hosting the championship in different countries has led to a financial loss. Additionally, this was the first time that 20 teams participated in the tournament, adding up to the expenditures.
ICC Annual meeting to be held in Columbo
The ICC is hosting it’s annual meeting from 19 till 22 July this year in Columbo, Sri Lanka. The BCCI and PCB are preparing for a confrontation during the ICC meetings from July 19 to 22 in Colombo, Sri Lanka.
It’s common for India and Pakistan to clash in ICC board meetings, especially when an upcoming ICC event is scheduled in Pakistan.This time, discussions will focus heavily on next year’s Champions Trophy, ensuring a tense atmosphere in the boardroom. The outcome of these talks will be crucial for the event’s planning and execution.
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