Zee Entertainment Enterprises Ltd (Zeel) and Star India, backed by Reliance and Walt Disney, are engaged in a heated legal dispute over a failed agreement concerning International Cricket Council (ICC) men’s cricket rights for 2024–27. The deal, made in August 2022, collapsed, with both companies accusing each other of financial liabilities.
The dispute started after Star sub-licensed the ICC rights to Zee. Yet Zee later pulled out of the deal, leaving Star to shoulder the full $3 billion liability for the rights. That has generated large financial claims on either side.
In September 2024, Star India filed a $940 million damages claim against Zee for failing to honour the deal. Star alleged that Zee did not pay the first instalment of $203.56 million (₹1,693 crores) and failed to provide an additional ₹17 crore for bank guarantees and deposit interest. Following these claims, Zee has now filed an $8 million counterclaim, plus interest, against Star India.
The legal battle is being arbitrated by the London Court of International Arbitration (LCIA), with proceedings still in the early stages. Zee filed its defence on December 23, 2024, rejecting Star’s allegations and demanding a refund of ₹69 crores paid under the agreement. Zee argues that the contract became void due to Star’s inability to meet certain conditions, including securing financial guarantees and obtaining ICC approval.
The conflict has also been complicated by Zee’s now-failed merger with Sony Pictures Networks. Despite the ongoing arbitration, Zee has stated that the legal matter will not have a significant impact on its operations or finances. The company’s board remains confident in its legal position, monitoring the situation closely.
Adding to the complexity, Star India reported a net loss of ₹12,548 crore for FY24, primarily due to a ₹12,319 crore provision related to the ICC media rights deal. The LCIA tribunal, composed of three members, will continue to oversee the case as both companies await a resolution.