India, Dec. 12 -- The International Cricket Council (ICC) and JioStar released a joint statement on Friday evening, quashing all reports that the latter was seeking to withdraw from the previously signed agreement. It has now been confirmed that JioStar will not be withdrawing from the four-year deal, and all contractual obligations will be fulfilled. The joint statement also confirms that preparations for the T20 World Cup are in full swing, and both parties are determined to deliver a tournament that everybody can be proud of.

Earlier, according to The Economic Times, the Reliance Group-controlled JioStar informed the ICC that it intends to withdraw from the media rights deal for the tournaments. The report also stated that JioStar had...