Who stands to lose most in Pakistan boycotting India T20 World Cup match

According to estimates, stakeholders might lose a culminative money of Rs 2,200 crore. This includes Rs 250 crore loss that the host broadcaster will stand to suffer.

Pakistan boycotting its T20 World Cup match against India could send financial shockwaves to several stakeholders including the International Cricket Council (ICC), Pakistan Cricket Board (PCB) and the broadcasters.

According to estimates, stakeholders might lose a culminative money of Rs 2,200 crore -- the revenue estimated from the match. This includes Rs 250 crore loss that the host broadcaster will stand to suffer, whose 10 second commercial slot can cost up to Rs 40 lakh.

JioHotstar, the holder of media rights for the tournament in India, is already in talks to renegotiate the a $3 billion deal after revenue hit following Indian government's ban on betting apps.

The decision was not totally unexpected with Pakistan having delayed their confirmation of participation in the T20 World following Bangladesh's withdrawal.

However, the final nail was hit when the Pakistan government announced that its national cricket team will not play against India. The PCB is yet to write officially to the ICC, confirming the boycott.

Who suffers?

The 'Big Three' of India, Australia and England are self sustainable, but other countries, including PCB face financial crunch.

PCB's annual revenue from the ICC is Rs 330 crore, which is 5.75 per cent of the international body's total revenue. It is the fourth biggest beneficiary with India topping the list at 38.5 per cent, while England get a share of 6.89 per cent, followed by 6.25 per cent to New Zealand.

Pakistan could lose all of its Rs 330 crore if the broadcasters decide to recover their losses through legal means.

Considering the massive financials involved, former India cricketer Sunil Gavaskar said Pakistan could make a U-turn and play the match against India that was scheduled for February 15 in Colombo.

"I think in the next four or five days, when reactions start pouring in from across the world and even from their former players, there is a possibility that Pakistan will change their stance", Gavaskar said.