In 2017, Zimbabwe Cricket (ZC) was $18.9 million in debt, swimming in red ink. Flash forward to 2025, and they will have a schedule of 11 Test matches, just like Australia's, without being part of the World Test Championship. How did they do that? Let's break it down. ZC's Financial Journey: From Deficit to Surplus From 2018 to 2022, ZC's finances transformed dramatically: Year Revenue Operating Cost Surplus 2018 $14.2M $13.5M $4.7M 2019 $11.9M $7.2M $17.5M 2020 $5.5M $6.9M -$1.2M 2021 $9.3M $9.6M -$0.3M 2022 $15.8M $12.1M $10.7M In 2022, ZC earned a profit of nearly $11 million, an incredible turnaround from previous years. Also Read | 5 Father-Son Cricket Duos Who Faced India on the Field ICC Funding: The Financial Pillar of Zimbabwe Cricket Generating revenue mainly from ICC distributions: Year ICC Contribution Trades and Receivables from ICC Total from ICC 2018 $9,000,000 $2,969,358 (ICC Loan) $11,969,358 2019 $11,500,000 $2,062,079 $13,562,079 2020 $5,292,791 $769,292 $6,062,083 2021 $8,459,915 $3,296 $8,463,211 2022 $11,788, 243 $3,239,324 $15,027,567 In 2024, under the new model of finance provided by ICC, Zimbabwe received around $17.6 million annually. Hostage to Test Matches: A Costly Affair Hosting Test matches is expensive. In 2022, ZC spent approximately $500,000 per Test match. With 8 Tests scheduled in 2025, the expense is approximately $4 million. However, ZC has managed budgeting by proper planning and increased revenue. Also Read | 5 Players Chennai Super Kings Should Release Before IPL 2026 Revenue Diversification: Beyond ICC Funds Zimbabwe diversified sources of revenue: TV Rights: In 2022, ZC earned $2.65 million (16.74% of revenue) from broadcasting deals. Touring Fees: England committed to paying ZC a touring fee for the 2025 one-off Test, an important milestone in international cricket finance. Operational Costs: Balancing the Books Operating expenses of ZC are: International Cricket: Host and touring expenses. Domestic Cricket: Local competition expenses. Central Administration: Administrative costs. Despite variations in costs, Zimbabwe Cricket has had a positive financial trend. 2025 Test Series: A Busy Year for Zimbabwe Zimbabwe's Test fixture list in 2025 consists of: Afghanistan: 2nd Test (Jan 2025) - Concluded Ireland: 1 Test (Feb 2025) - Concluded Bangladesh: 2 Tests (April-May 2025)- Concluded England: 1 Test (May 2025) - Concluded South Africa: 2 Tests (July 2025) New Zealand: 2 Tests (August 2025) Afghanistan: 2 Tests (October-November 2025) Having played just 12 Tests from 2020-2024, Zimbabwe are scheduled to play 11 in 2025 - the joint-most of any team 😮 pic.twitter.com/uOJdG5x6KC — ESPNcricinfo (@ESPNcricinfo) May 19, 2025 This hectic fixture schedule is evidence of Zimbabwe's growing prominence in global cricket. Also Read | Elite Cricketers with 10,000+ Runs in Tests & ODIs Strategic Choices: Road to Financial Rebound Debt Reduction: Reducing a $27 million inherited debt by 2020. Investment in Domestic Cricket: Setting up a five-team domestic system. Women's Cricket: Introducing national contracts and allowances for women. These steps have strengthened ZC's position and supported growth that is sustainable. Conclusion: A Model for Smaller Cricket Nations The turnaround of Zimbabwe from near financial collapse to staging a number of Test matches in a single year is a success story which speaks to forward planning and resilience. Their success offers a lesson to smaller cricket nations looking to improve their financial stability and international profile.