International League T20 (ILT20) Struggles After Inaugural Edition
The launch of the International League T20 (ILT20) in early 2023 has not been as successful as hoped, with both the six franchises and broadcaster Zee Entertainment Enterprise writing to the Emirates Cricket Board (ECB) to renegotiate the current deal and alter the business model.
IPL Owners Amongst ILT20 Founders
Ownership of ILT20 is shared between three IPL team owners, the Glazers Family, and the Adani Group, with the aim of providing a fresh perspective. Despite offering lucrative deals for cricketers, the financial side of the league has not been as successful.
Franchises Incur Losses
The main reason for the losses incurred by the franchises is the 10-year lock-in period for them, meaning that they can only have a share of the central pool after 10 years. To avoid further losses, the franchises are looking to alter the deal and receive a portion of the revenue from ILT20 2024.
Broadcaster Zee Also Unhappy
It appears that ILT20 is not only facing issues with the franchises, but also with the broadcaster Zee, according to a News1 report.
Conclusion
The International League T20 (ILT20) has not been as successful as hoped after its inaugural edition in early 2023, with both the franchises and broadcaster Zee unhappy with the current deal and looking to alter the business model. Franchises are looking to receive a portion of the revenue from ILT20 2024 to avoid further losses, while the broadcaster Zee is also reportedly not content with the current deal.