Back in 2022, I was at the University of Iowa finishing my PhD when I noticed a force quietly taking over campus: Caitlin Clark.
Over the next couple of years, Clark reshaped women’s college basketball: Viewership exploded with her jaw-dropping 3 pointers, every game was sold out (unfortunately before I could get a ticket), and Iowa reached the Final Four one season and finished as NCAA championship runners-up the next.
After graduation, she was picked up by the WNBA for a whopping…$78,000, far below the value she brought to the league.
Women’s cricket is entering a similar era. India’s World Cup victory has sparked excitement and optimism that the sport may finally see professional growth and meaningful investment.
But as momentum builds, the finances become increasingly important. In my previous article on The Economics of Women’s Cricket, we explored how each cricketing nation is investing in the women’s cricket. In this article, we broaden the scope and ask:
How wide is the gender pay gap across major sports?
Where does cricket sit within that debate?
And most importantly: are women cricketers earning a livable wage that supports a basic standard of living in their countries?
Will the Clark effect translate to cricket? Let’s find out.
Key Takeaways
Nat Sciver-Brunt earns an estimated $931,978 per year, one of the highest for a women’s cricketer (without sponsorships). However, that is less than the highest paid women in tennis, golf, and other sports where players are making $4-10 million annually.
Rishabh Pant and Pat Cummins (~$4-4.5 Million) are among the highest paid cricketers, but their annual salaries are not as competitive as Stephen Curry ($59.6M) or Shohei Ohtani ($70M).
The average international women’s cricketer in Australia, India, England, and New Zealand earns about $100,000-$200,000 a year, while players in Pakistan, Sri Lanka, Bangladesh, and Zimbabwe earn between $2,000-$12,000 per year.
Tennis was the pioneer in pushing for pay parity with the US Open offering equal prize money for both men & women in 1973.
When the gender pay debate comes up, there are usually two sides of the debate.
Revenue-proportional pay: Athletes should earn proportional to the amount of money they generate for the league.
Investment-driven growth: Paying athletes fairly strengthens the league, improves quality, and drives revenue over time.
To understand pay in women’s cricket, I’ll compare league revenue, player salaries, and recent investments across team sports like basketball and soccer, and individual sports like tennis and golf.
We also look at Gross National Income (GNI) per capita with Atlas method, a social marker that determines the average income based on GDP, currency exchange rates, inflation, etc. (including income earned outside of the country).
For example, we will be looking at several leagues in the US. It’s good to keep in mind that the GNI of the United States is $83,660 (2024) so we can see how athletes salaries fare in comparison.
League by League Revenue and Salary Breakdown
I read over 110 articles to bring you salary and revenue information from different sports all in one sports.
*Note: Although the NFL is the most profitable league in the US sports market ($20.24 billion), we do not consider it in our analysis since there is no women equivalent of the NFL.
1. Basketball
Pay Disparity:Extremely High
NBA: National Basketball Association, WNBA: Women’s National Basketball Association
The average NBA salary ($11.9M) is over 116 times higher than the average WNBA salary ($102,249).
Even the lowest-paid NBA player makes more than 4 times the highest paid WNBA athlete.
The NBA generates approximately $28.9 million per player, while the WNBA revenue player generates $1.22 million per player.
NBA vs WNBA at a Glance
Category
NBA
WNBA
Founded
1946
1996
Estimated Salary Range
$1.16-$55.76 Million
$66,000-$250,000
Average Salary
$11.9 Million
$102,249
League Revenue
$13 billion (2024)
$180-200 Million (2023)
Salary as % of League Revenue
0.09% (11.9M/13B)
0.05% ($102K/190M)
Number of Teams
30
13
Number of Games/Team
82
34
Average Attendance
18,834/match 22.2 million (total)
10,986/match 3.14 million (total)
Highest Paid Athlete (Men): $59.6 million (Stephen Curry), $304 Million (Jaylen Brown for 5-year contract)
Highest Paid Athlete (Women): $252,450 (Jackie Young on contract extension), $249,244 (Kelsey Mitchell)
The WNBA has secured a $2.2 billion deal for the next 11 years, averaging $200 million/year, up from the current deal of $60 million/year.
According to Sportico, the NBA is projected to hit $14.3 billion revenue in the 2025/26 season.
Revenue Per Player:
NBA: $28.9 million = ($13 billion league revenue)/(30 teams x 15 players per standard roster
WNBA: $1.22 million = ($190 million)/(13 x 15)
Bottom Line: While salaries remain far below NBA levels, rising media deals and growing brand valuation suggest the WNBA’s momenum may finally be shifting.
In 2022, the US Women’s team won a historic equal-pay settlement of $22 million in 2022, divided among 30 players on the USWNT roster (~$733,333 per player).
The USWNT, USMNT (Men’s National Team) CBA came to an agreement to pool FIFA prize money and split it equally (after 10% to US soccer for youth programs). The US Women’s Team has won 4 FIFA World Cups and 5 Olympic golds, while the men have not made it past the quarter-finals in recent history.
According to Forbes, top USWNT players like Alex Morgan and Megan Rapinoe earned around $7 million in 2023, combining on-field and off-field earnings. In contrast, the top male players like Kylian Mbappe, Cristiano Ronaldo, and Lionel Messi earn around $120 million annually.
MLS: $2.86 million = $2.23B/(30 teams x 26 players)
NWSL: $223,000 = $75M/(14 x 24)
Note: MLS has 20 players on the roster with up to 10 supplemental players. Similarly, NWSL has 22 minimum players with up to 4 supplemental players.
Bottom Line: Although NWSL salaries are lower than MLS salaries, the disparity in league salary is nowhere near as extreme as basketball. Culturally, women’s soccer is more popular and the US women’s national team has made strides in pay parity (though other national soccer teams may still face wide gaps).
ATP: Association of Tennis Professionals, WTA: Women’s Tennis Associations
The median earnings for male professional tennis players ($22,362) is lower than for female players ($75,888). This is due to over 1000 professional men players compared to about 550 women.
The prize money for Grand Slams and other tournaments are largely equal.
Highest Paid Athlete (Men): $20.3 million (Jannik Sinner, $47.3 million total with off-court earnings), $13.3 million (Carlos Alcaraz, $48.3 million with off-court earnings)
Highest Paid Athlete (Women): $12.4 million (Aryna Sabalenka, $15 million with off-court), $12.2 million (Coco Gauff, $25 million with off-court)
Prize money for this year’s Roland-Garros will total EUR 49.6m, up 12.3 per cent on 2022. With the aim of ensuring a more even distribution between players, the tournament organisers have significantly increased the prize money for first-round losers in the women’s and men’s… pic.twitter.com/3HC75KlnIP
In 1973, the US Open became the first Grand Slam to offer equal prize money for both men & women ($25,000 then) after movement driven by Billie Jean King. The other Grand Slams would take a quarter of a century to make the same move: 2001 (Australian Open), 2006 (French Open), 2007 (Wimbledon).
Australian Open offered equal pay in 1984 and reverted to paying the men more in 1996 before going back in 2001.
In 2024, 28 men & 15 women earned at least $2 million. In his career, Novak Djokovic has won more than $190.2 million in prize money alone. Roger Federer is said to have breached the $1 billion mark.
2023 French Open total prize money was $56.8 million (€ 49.6 million). The winner of a Grand Slam, like the US open is about $2.5 million whereas even a first-round loss can yield $100,000.
According to Forbes, the world’s top ten highest paid tennis players made an estimated $285 million (the record was $343 million during the height of Federer-Nadal-Djokovic-Serena Williams).
The US Open’s revenue in 2024 was about $559.6 million. About 3.2 million fans attended the Grand Slams in 2025 (1.1 million – US, 1 million – Australian, 650,000 – French, 550,000 – Wimbledon)
Bottom Line: Prize money in professional tennis is far more balanced than most other sports. While off-court earnings still have large gaps, equal Grand Slam payouts show that both men & women have more equitable financial opportunities for this individual sport.
The average PGA salary (~$1.48M) is nearly seven times the median LPGA salary (~$213K).
Although women golfers are earning up to $6M in recent times, the highest paid male golfers are earning between $60-90M.
PGA vs LPGA at a Glance
Category
PGA
LPGA
Founded
1929
1950
Estimated Salary Range
$6,000-$92 million
$2,300-$6 Million
Average Salary
$1.48 million (2021)
$213,159 (Median 2024)
Winning Prize Money
$4.3 million (US Open) $3.6 million (The Masters) $3.3 million (PGA Championship) $3.1 million (Open Championship)
$2.4 Million (US Open) $487,500 (The Annika)
Highest Paid Athlete (Men): $92 million (Jon Rahm, $102 million including off-course earnings), $67 million (Scottie Scheffler)
Highest Paid Athlete (Women): $4.5 million (Nelly Korda, $12.5 million with off-course)
Growth Trend and Recent Landmark Changes
Tiger Woods’ career earnings total about $120 million with Rory McIlroy closing in at $108 million.
According to Reuters, LIV golf, backed by Saudi funding, has invested about $5 billion over the last couple of years. The organization reportedly offered players like Jon Rahm $300 million to defect from the PGA Tour.
PGA, in response, upped the 2025 season prize money to $366.9 million. Combined with other tournaments, PGA golfers have an opportunity to play for $700 million in a year.
The total prize money for the ladies’ US Open was a $12 million purse and the Memorial PGA tournament was about $20 million. Other tournaments like the Chevron Championship, Evian Championship, and the AIG Women’s Open had a total purse around $8-10 million.
CBS and NBC renewed a 9-year media rights contract in 2022 for about $700 million.
The LPGA is currently in negotiations for a media deal that will put all North American golf matches live on TV. More investment like the ones with FM, U-NEXT deal in Japan is around the corner.
Bottom Line: Despite being around since the 1950s, the gap between top male and female golfers remain among the widest in professional sports.
National Professional Fastpitch (also known as the Women’s Pro Softball League) ran from 2004-2021. The average season salaries were around $3,000.
Although MLB players earn high average salary ($4.66M), they also play the most games (162), which brings their amount per match down to about $28,800.
Bottom Line: Softball players earn a fraction of their MLB counterparts, but the landscape is improving. AUSL is a major upgrade from the now defunct National Professional Fastpitch in terms of investment and support. Meanwhile, the men still have the potential to earn substantial amounts of money both on and off the field.
The NHL and Rogers Communications announced a $11 billion media rights deal in Canada. The NHL also has 7-year deals with Disney & Turner Sports around $200-400 million.
The PWHL signed deals with Fox, Paramount, and other networks.
Premier Hockey Federation, the precursor to the PWHL, paid its players an average of $45,000-$60,000 with top salaries reaching $80,000.
Bottom Line: The pay disparity may look extreme, but PWHL is a new league and is growing rapidly. Only time will tell if it succeeds, but it will take a lot to match a 100-year old NHL league.
UFC fighter Rousey said in 2019, “How much you get paid should have something to do with how much money you bring in. I am the highest paid fighter not because Dana or Lorenzo wanted to do something nice for the ladies. They do it because I bring in the highest numbers. They do it because I make them the most money. I think the money that they make should be proportionate to the money they bring in.”
College Sports, Law Suits, and Miscellaneous
College sports in the US is a separate altogether, but with NIL (Name, Image, and Likeness), college athletes have started to get paid. However, now we are seeing disparity in college pay as well. Men’s basketball players earned an average of $171,272, while the women earned about $16,222 in 2024.
After tennis in 1972, several other individual sports followed equal prize money. By 2004, volleyball and skating offered equal prize money. By 2019, skiing, snowboarding, biking, and even the World Surf League announced equal prize money for both female & men competitors.
IPL: Indian Premier League, WPL: Women Premier League
The average IPL salary (~$460K) is higher than the highest-paid WPL player ($415K) with IPL players earning on average 5.5 times more than their WPL counterparts.
The revenue per player is approximately $2.7-$3.8 million in the IPL compared to about $816K in the WPL.
Even in the lower-tier cricket nations (Pakistan, Sri Lanka, Bangladesh, Zimbabwe), where salaries are lower, player earnings are still significantly above their countries’ GNI.
Category
IPL
WPL
Founded
2008
2023
Salary Range
$24,000-$3.2 Million
$12,000-$415,000
Average Salary
$459,743 (2023)
$82,522 (2023)
League Revenue
$691.3 Million (5761 Crore INR)
$71.86 Million (637 Crore INR)
Salary as % of League Revenue
0.067%
0.11%
Number of Teams
10
5
Number of Games/Team
14
8
Average Attendance
26,000/match
9,000-13,000/match
Highest Paid Athlete (IPL): $3.21 Million (Rishabh Pant)
The average salary for a WBBL player is $30,812 while the average BBL salary is $110,312. The Women’s Hundred pays around $38,077, while the men’s Hundred pays around $75,440 on average.
Men’s vs Women’s Salaries in Cricket (Country By Country Breakdown)
Australia, England, New Zealand, and India now have equal match fees for both men & women. West Indies has signed a MOU to create a pathway for equal match fees by 2027.
Note that match fees is not the same as equal salary, but it is still a step in the right direction. Match fees is how much a player is paid per match. However, women cricketers do not play as much volume of cricket (for example, NZ have equal match fees for Test cricket but the White Ferns have not played a Test in ages).
Bottom Line: Since 2017, women’s cricket has gained momentum through increased visibility, equal match fees, and the emergency of women’s franchise leagues, important steps toward professionalizing the sport. However, more needs to be done in the lower-tiered country to diminish the gap within women’s cricket. Finally, even though men’s cricketers earn high salaries, it is nowhere in comparison to the MLB or the NBA.
For the highest paid cricketers, we looked at franchise league earnings along with match fees and central contracts. Here is an example of how we calculated Pooran and Klaasen’s earnings.
Country
Men
Women
Australia
$3.6-$4.5 Million (Pat Cummins)
$831,951 (Ash Gardner)
England
$3.5-$3.85 Million (Jos Buttler)
$931,978 (Nat Sciver Brunt)
New Zealand
~$2.29 Million (Daryl Mitchell)
$435,755 (Amelia Kerr)
India
$4-$4.4 Million (Rishabh Pant)
$757,420 (Smriti Mandhana)
West Indies
$3.1-$4.1 Million (Nicholas Pooran)
$269,200 (Deandre Dottin)
South Africa
$3.5-$3.9 Million (Heinrich Klaasen)
$400,000-$480,000 (Marizanne Kapp)
Sri Lanka
$1.6-$1.8 Million (Matheesha Pathirana)
$226,741 (Chamari Athapaththu)
Pakistan
~$750,000 (Babar Azam)
N/A
Bangladesh
$390,000-$410,000 (Mustafizur Rahman)
$17,000-$20,000 (Nigar Sultana)
Ireland
$600,000-$800,000 (Josh Little)
$60,000-$100,000 (Gaby Lewis)
Zimbabwe
$122,000-$516,000 (Sikandar Raza)
N/A
Afghanistan
$2.2-$3.36 million (Rashid Khan)
N/A
Final Thoughts
Women in sports continue to earn far less than their male counterparts, but times are changing. Investment and visibility towards women’s sport is increasing, and so are their salaries.
Caitlin Clark may not get a paycheck close to Steph Curry’s at the moment, but the impact of athletes like Caitlin Clark & Angel Reese, Billie Jean King & Serena Williams, and of course, Harmanpreet Kaur leading India to victory is reshaping the landscape and pushing world sports closer to fair pay.
But in true Australian fashion, Beth Mooney’s magnificent century, Kim Garth grit at #9, and Alana King’s fiery 51* turned it into a 107-run victory. Earlier, Ash Gardner had rescued them with 115 (83) from #6 and later repeated the feat alongside Sutherland against England.
Add seven ODI and six T20 World Cup victories, the picture is clear: What other nations have built in the last five years, Australia have been perfecting for over 50.
How far behind are the rest, and can we actually quantify the health of women’s cricket across the top nations?
Let’s find out.
Key Takeaways
Australia ($19.56 M), England ($15.02 M), India ($2.37 M), and New Zealand ($2.27 M) spend the most on women cricketers’ salaries (both central contracts and domestic combined).
Cricket Australia aims to generate $121 million in revenue alone from women’s cricket by 2024. On the other hand, nations like South Africa, Ireland, and Bangladesh are just now starting to professionalize domestic cricket.
Despite leading women’s cricket in pay, Australian women still earn far less than the men: $139,719 AUD vs $951,046 AUD in 2023–24 average retainer value.
How I Assessed Cricket Boards’ Financial Commitment and Long-Term Vision for Women’s Cricket
To understand the full picture of each cricket board’s investment in women’s cricket, I examined the following factors for the top women’s cricket boards:
Long-term investment in girls’ and women’s sports
Salaries of centrally contracted players
Number of contracted female players (both international & domestic)
Performance in ICC tournaments*
Socioeconomic indicators. These include UN/WHO metrics such as
Female Labor Force participation: % of women actively employed or seeking work
Female Literacy Rate: Share of women who can read and write at a certain level
Global Inequality Index: Measures income and opportunity gaps affecting women
Women, Peace, & Security Index (WPSI): Assesses women’s safety, inclusion, and empowerment
After analyzing these factors, I grouped the nations into five categories:
🟢 Strongly Invested: Australia, England
🟡 Progressing: New Zealand, India
🟠 Transitioning from amateur to professional: South Africa, Ireland, West Indies, Bangladesh, Sri Lanka, Pakistan
🟣 Emerging: Scotland, Zimbabwe
🔴 At Risk: Afghanistan
*Includes the 2022 Commonwealth Games along with 13 ODI World Cups and 9 T20 World Cups.
My Theory on Women’s Economics in Cricket
In theThe Economics of Sport Dominance article, I theorized how a nation evolves from a single-nation sport into a multi-nation and Olympic dominating nation based on GDP per capita, Global Hunger Index, and poverty rate.
We can apply a similar framework to women’s sports. For a nation to rise in women’s sport, certain base needs must be met: A female literacy rate of at least 60-80%, female labor force participation rate above 40-50%, and no government restrictions on women (unlike Afghanistan).
7 Steps of Achieving Sustainability in Women’s Cricket
Once these prerequisites are achieved, a cricket board typically progresses through seven steps:
Professionalize the Base: Create contracts, domestic leagues, and comprehensive player support to elevate ‘amateur’ players, allowing them to focus on cricket rather than juggling other jobs.
Have a Catalyst Moment: A breakthrough win or tournament performance that sparks interest (ex: India’s 2017 ODI World Cup run).
Institutionalize Momentum: Build grassroots pathways and scholarship programs to build on the momentum from the initial spark.
Build Systems: Invest in coaching, leadership, administration as well as grown fans of women’s cricket and increase sponsorships.
Deepen Talent Pool: Expand local tournaments, scouting networks to increase depth so women’s cricket does not only depend on one ‘golden generation’.
Expand International Exposure and Raise Standards: Create domestic T20 league, invest in emerging, A, and U-19 tours, and raise standards for new batch of players.
Achieve Profitability and Re-invest: At this stage, both the talent pool and the audience have matured. Domestic leagues, sponsorships, TV rights are set. Money is flowing in and being re-invested into local talent and systems built earlier, which outputs in increased depth and better tournament performance.
Top 10 Richest Women Cricket Boards (By Overall Salary)
Alright, now time for the reveal.
Here are the cricketing nations ranked loosely by estimated salaries for women’s cricketers (central contracts and domestic cricketers combined). We also look at investment trajectory, strategic vision, and recent grassroots development.
Note: Salaries and match fee information of some emerging nations were not available. Also, Women CPL salary information was not publicly available, so they are not used for this analysis.
$800,000 AUD ($520,495 USD) $500,000 AUD ($325,000 USD) for next 6
$163,322 AUD ($106,260 USD)
Number of Players
18 central contracts
131 across 7 teams (including the 18 central)
Match Fees
$2,000 AUD/match day
Included in average
1 $AUD = $0.65 USD, WNCL – Women’s National Cricket League, WBBL – Women’s Big Bash League
Highest Paid WPL Australian Player Breakdown: In 2024, Ash Gardner earned an estimated $831,951 USD (or $1.28 million AUD) annually across WPL ($380,000 USD), The Hundred ($86,613), central contract/WBBL ($325,000), and match fees ($40,338 USD/$62,000 AUD), not including awards, bonuses, or sponsorships.
She played 31 days of international cricket: 1 Test (3 days), 12 ODIs, and 16 T20Is in 2024.
Bottom Line: Australia’s high socioeconomic index and investment in women’s cricket is unparalleled, directly translating into high salaries, strong grassroots participation, team depth, and World Cup success.
Potential Challenges: Australia are in a unique place, culturally. They have an abundance of sports culture and women in sports. Hence, the main challenge I see for Australia is retaining cricket as the #1 sport for young girls aspire to pick up.
Average women’s match attendance → 600,000 (from 110,000)
80% of women’s matches telecasted in primetime
40% of women in leadership roles
$500 million AUD invested in infrastructure
Revenue from women’s cricket → $121M AUD (from $21M)
Quotes from Action Plan and Annual Report
“…some of our girls who are playing in India earn significant amounts of money in the WPL, and on top of this deal now, they will become million-dollar athletes. And so they should because they’re the best in the world at what they do.“
-Todd Greenberg, CEO Australia Cricketers’ Association
“We are also exceptionally proud that following the last MOU, our elite players are by far the highest paid female team sport athletes in Australia.”
Investment & Grassroots Growth
Registered women/girls: 47,000 → 80,000 (2014-24)
2023-24 season: +18% to 93,091 registered players, including 44% rise in school competitions
~$100M AUD ($65 M USD) invested in facilities over last 10 years.
CommBank’s Growing Cricket for Girls Fund supported 4,408 girls aged 5-18
Weber WBBL: Most-watched sports league in Oct-Nov.
How we estimated salaries for Australian women cricketers
We estimated the average salary for an Australian contracted player as follows:
According to the 2023–28 MOU, the average retainer for centrally contracted women’s cricketers was $139,719 AUD, which rose ~8% to $150,897 AUD the next year.
Adding the estimated average WBBL salary of $48,800 AUD brings most players’ total earnings to about $200,000 AUD.
When accounting for top earners, the squad-wide average rises to roughly $333,000 AUD, with the top player at $800,000 AUD and the next six around $500,000–$600,000 AUD.
Women’s Cricket Health: 🟢 Exceptionally Strong 5-Year Investment Trajectory: The ECB plans to invest £20-25 Million ($27-33M USD) annually in women’s cricket by end of the decade.
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Salary Range
£90,000-£130,000 ($118,600-$171,250)
Minimum (Tier 1): £33,333 Average (Tier 1): £53,333
Tier 1 counties include Durham, Essex, Hampshire, Lancashire, Nottinghamshire, Somerset, Surrey, and Warwickshire with Yorkshire to join in 2026 and Glamorgan in 2027.
£1 = $1.33 USD
The salary cap for Tier 1 counties is £500,000-£800,000, and a minimum of 15 contracted players are required for each Tier 1 county. The average domestic salary otherwise is £25,000, with £28,000 for senior pro level and £20,000 for Rookie level.
Note: Although 270+ players play across the domestic system, only 153 are supported by official domestic contracts.
Highest Paid WPL England Player Breakdown: England captain Nat Sciver-Brunt earns around $931,978 annually excluding sponsorships, match awards and bonuses:
Do they have a T20 league? Yes, The Women’s Hundred.
Tournament Performance:Number of ICC Trophies/Commonwealth: 17/23 (5 Wins, 12 Runners-Up)
Bottom Line: England’s women’s cricket is thriving. From leading the charge in the equal pay movement & the Women’s Hundred revolution to investing in domestic cricket & nationwide grassroots push, women’s cricket is in good place in England.
Potential Challenges: Although England has invested in the grassroots level, their social progress has not directly translated into tournament wins. Increasing salaries in the Women’s Hundred and increasing the standard of domestic cricket will hopefully lead them to create dominance like the Australian dynasties.
+£19M per year investment in women’s domestic cricket by 2027.
+£25M investment annually above forecasted revenues by 2029.
Equity Commitments (ICEC Report 2023)
The 2023 Independent Commission for Equity in Cricket (ICEC) recommended the following:
Equal match fees for men and women ✅ (implemented in 2023)
Equal domestic pay by 2029
100% equal international salary parity by 2030
Other Recommendations: Parity in Hundred salaries, captain’s allowances, win bonuses, introduction of Rookie Contracts, merit-based and inclusive talent pathway, financial aid, and more
Investment & Grassroots Growth
£1.2 million invested in a network of 100 Cricket Development Officers
Core City Hubs Programme: 285 hubs across 13 cities, engaging 30,000 players including 9,000 women and girls
£3.7M public funding from ESC Lottery fund, of which £850,000 was allocated for for Tacking inequality – Womens and Girls and £101,000 for “Female Talent Pathway”
Participation & Engagement (2023)
20% growth in women’s and girls’ teams from 2022 to 2023.
717 new women’s & girls’ teams
26,752 girls participated in Stars and Dynamos
7.4 million total audience for women’s cricket across formats
140% increase in women’s international (122,000) and 167% increase in viewership of Women’s Test
349,401 attended the 2025 The Women’s Hundred
+3000 bursaries (scholarships) to “enable individuals, especially women, ethnically diverse individuals, and disabled people, to qualify as coaches.”
538% increase in women’s professional players from 2020 to 2025
Quotes from PCA Women Impact Report
“For years I had a full-time job alongside playing top level domestic cricket as an amateur. The progress made in the past five years has been astounding…”
-Eve Jones, Lancashire
“A key priority for the players was agreeing a maternity policy which supports those wishing to start a family whilst still playing the game. The ECB were supportive of the policy and in 2025 now provide a fully paid maternity leave period of up to 12 months, with a 12-month contract extension for players returning from maternity leave.”
How We Estimated Salaries for England women cricketers
120 Tier 1 players * £53,333 average = £6,399,960
150 Tier 2 players × £20,000 = £3,000,000
20 central contracts × £110,000 = £2,200,000
Subtract overlapping County pay (20 * £53,333)
Adding everything up, England spends about £11,283,300 on player salaries, or about $15.02 million.
Women’s Cricket Health: 🟡 Financially Improving, fewer resources 5-Year Investment Trajectory: NZC short-term focus is on developing young cricketers and increasing financial sustainability with TV rights and free-to-air opportunities for women’s cricket.
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Average Salary*
$152,796 NZD ($87,859 USD)
$18,646 NZD ($10,722 USD)
Maximum Salary
$163,246 NZD ($93,868)
$19,146 NZD ($11,009 USD)
Number of Players
17
72 players across 6 teams
Match Fees
$85,700 NZD* (included in salary)
$13,750 NZD* (included in salary)
$1 NZD = $0.58 USD
The salary for the Rank 1 player breakdown: $63,000 (Retainer), $85,700 (Match Fees), $6,750 (CPPT), $6,300 (Retirement Fund), Insurance ($1,496)
Match fees and CPPT is the same for all White Ferns contracts; only retainer and retirement fund fluctuate by ranking
CPPT: Cricket Players’ Property Trust
Match Fees Includes:
$10,250 (Test – which White Ferns have not played for 20+ years)
$4000 (ODI), $2500 (T20I)
$800 (Domestic ODI), $575 (Domestic T20)
Highest Paid New Zealand WPL Player breakdown:Amelia Kerr earns about $435,755 annually excluding bonuses, match awards, and sponsorships. In 2024, she earned around $582,960 with the 2024 T20 WC prize money.
$192,000: WPL
$147,203 ($256,000 NZD): 2024 T20 World Cup prize money
$86,539 (£65,000): The Hundred
$85,545 ($148,946 NZD): Salary (retainer + match fees)
Bottom Line: The 2024 T20 World Cup win boosted the White Ferns, and they have recently focused on developing grassroots cricket. However, compared to the Big 3, they do not have nearly as much participation in girls cricket or financial investment in women’s cricket.
Potential Challenges: As the senior pros head towards retirement, NZ need to focus on increasing their talent depth. They do well with the resources they currently have, but risk falling behind with the lack of resources.
The landmark agreement between NZC, New Zealand Cricket Players Association (NZCPA), and Major Associations in 2022 yielded the following:
Equal match fees for men and women on the same day
Player payments based on 29.75% of NZC’s projected commercial revenue over 5 years (NZ$349m), expected to total NZ$104M.
Prioritizes growth in participation of women and girls, leveraging free-to-air TVNZ coverage.
“At domestic level we increased the number of women’s annual contracts awarded by 30% to further invest in the development of our pipeline…As a result, cricket is becoming the most attractive professional sport in the country for young female athletes…The 15-strong squad who contested the World Cup final received circa NZ$256,000 in prize money each, on top of their annual retainers and match fees.”
Investment & Grassroots Growth
Average Live Audience for White Fern matches → 190,000 in 2020/21 (from 31,000 in 2016/17)
Around 821,000 people watched at least one of 20 Women’s Super Smash matches
In Otago alone, about 124 teams of girls took place in Girls Smash. Wellington, Marlborough, and Canterbury followed with over 1,000 girls involved now.
Around 43,596 females participated in 2020-21 before the Covid-19 dropoff to 26,321 the next year
Aspiring Female Umpire & Pathway to Performance Programs: 20 coaches/umpires trained in 2023-24, 12 women promoted to Head or Assistance Coach roles in the 2024 National U-19 Women’s Tournament, 15 new female coaches developed through Cricket Wellington Women & Girls Coaching Course
Female Leadership Initiatives: Leadership Development Contestable Fund, other leadership programs for women and girls
How We Estimated Salaries for White Ferns central contracts:
NZC lays out the salary bands of players based on different rankings:
Rank 1 – $163,246
Rank 9 – $148,946
Rank 17 – $142,346
However, it does not layout the rankings in the middle so we take the average between the highest and lowest for this average: ($163,246+$142,346)/2 = $152,796.
Combining both domestic and central contracts, NZCricket spends around $2.27 million on player salaries
Women’s Cricket Health: 🟡 Financially Stable, Lacking Vision 10-Year Investment Trajectory: BCCI spends around $10-11 million per-year on women’s domestic cricket, which means they will spend more than $100M in a 10-year cycle on women’s cricket.
Bottom Line: As the financial powerhouse of world cricket, India is pouring money into the WPL and have thousands of women cricketers playing in the domestic circuit. However, there seems to be a lack of longterm vision and systemic grassroots growth.
Potential Challenges: India’s main challenge will be navigating an evolving socioeconomic landscape and create a better cricket infrastructure for more girls to participate.
Australia Women’s Tour to India: 15.53 Crore, England W tour to India: 9.39 Crore
England A Women’s tour: 1.98 Crore
Women’s Emerging Asia Cup: 1.7 Crore, Women’s Tour to Bangladesh: 5.91 Crore, Women’s Asian Games: 2.22 Crore
Note: According to Times of India, about 96 Crore INR is budgeted for women’s domestic cricket in the 2025/26 BCCI budget. We have not been able to find the BCCI budget, but it is close to the 89.82 Crore INR from BCCI’s 2023/24 annual report.
Strategic Vision
Apart from match fees pay equity and annual financial reports, I did not find any strategic visions or 5 to 10-year plans from BCCI like Australia, England, or New Zealand have neatly presented.
Hence, I looked at Jay Shah’s tweets to see his vision for women cricket and grassroots development in India.
Hosting the @ICC@cricketworldcup in India enables us to have a significant impact at the grassroots level.
My sincere thanks to @DP_World, who share our vision of promoting the game and empowering women's cricket. As part of the Beyond Boundaries Initiative, 250 kits were… https://t.co/D1oWXNWuQ3
Test cricket remains the pinnacle of the game, and I am dedicated to preserving its stature while enhancing its appeal to fans. Simultaneously, women's cricket will be a cornerstone of our growth strategy as we take the sport to new horizons.
Women’s Cricket in India is on the upswing and the World Cup triumph has taken the stature of women’s cricket several notches higher. I am delighted to announce INR 5 crore for the entire team and support staff as prize money. This is surely a path-breaking year.
In a historic stride for Indian cricket, Jacintha Kalyan has become the trailblazing pioneer as the first female cricket pitch curator in our nation. 🙌 Taking the helm of pitch preparation for the inaugural leg of the Women's Premier League in Bengaluru, Jacintha embodies the… pic.twitter.com/AVqLondy77
After pay equity, today's bidding for media rights for Women's IPL marks another historic mandate. It's a big and decisive step for empowerment of women's cricket in India, which will ensure participation of women from all ages. A new dawn indeed! #WIPL@ICC@BCCIWomen
How We Estimated Average Domestic Indian Women Cricket Salaries
There are two major tournaments: Senior Women’s T20 Trophy and Senior Women’s ODI Trophy. In both tournaments, teams play about 7 matches in group-stages and can further qualify to pre-quarters, quarters, semi-finals, and finals.
1072 women cricketers are named in the Senior Women T20 Squad for the 31 teams, averaging 34.58 players per team. This means 11 players will play each match and about 23.6 players will be on the bench.
Playing XI earns 20,000 INR: 11 * 20,000 = 220,000. Bench earns 10,000: 23.6 *10,000 = 236,000
Hence, each team pays their players about 456,000 INR per match on average.
If teams do not qualify, the tournament spend on salary is 456,000 * 14 = 6,348,000 INR. If qualifying teams play ~ 16 matches, the total is close to 7,296,000 INR. From the 31 teams, if 8 qualify and 23 do not, we can estimate the total cost as follows: (8*7,296,000) + (23*6,348,000) = 205,200,000/1072 = 191,441 INR per player per season.
Overall, the BCCI pays its central contract holders about 3.6 Crore INR and about 20.5 Crore INR to its domestic players, for a total of 20.8 Crore INR (or $2.37 million total) excluding match fees for international players.
Women’s Cricket Health: 🟠 Have vision, but in the process of professionalizing Investment Trajectory: South Africa government investment 15M ZAR ($USD 869,000) in women’s cricket in the lead-up to the 2023 T20 World Cup and the U-19 T20 WC.
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Average Salary*
N/A
N/A
Number of Players
15
68 (plus 17 high performance and academy contracts)
Match Fees
Test: $6,925 ODI: $1,900 T20I: $911
N/A
1 ZAR = $0.06 USD ($1 = 17.23 ZAR)
Unfortunately, there is no publicly available information of how much the central contracts are worth for women’s cricketers in South Africa. The match fees is from ESPNCricinfo’s 2017 report and may be outdated. CSA now provides equal match fee for both their women’s and men’s cricketers.
Highest Paid South African WPL Player breakdown:Marizanne Kapp earns between $400,000-$480,000 annually before sponsorships, etc. Here is the breakdown:
Bottom Line: South Africa have produced world-class cricketers in the last few years, but women’s domestic cricket is just becoming professional. Hosting the 2023 T20 World Cup created a cycle of investment in women’s cricket according to the Nielsen report. They are now focusing on investing in women’s domestic and junior level cricket to complete the transition from amateur to professionalization.
Potential Challenges: Making the finals of the 2023 and 2024 T20 World Cups was no easy feat, but can they sustain the momentum once the golden generation retires?
“…the continued professionalisation of the women’s game through the appointment of a permanent head coach marks a landmark achievement.“
-Rihan Richards, President (CSA)
“Focus on women’s cricket: Significant attention was given on advancing the growth and professionalisation of women’s cricket. The committee supported increased investment in domestic women’s structures, advocated for broader enhanced media coverage and commercial partnerships and the integration of former women players in strategic discussions, reflecting CSA’s commitment to transformation and gender inclusivity.”
Women’s Cricket Health: 🟠 Increasing Investments 10-Year Investment Trajectory: In 2023, CWI announced they would start significant investments in women’s cricket. For example, business class flights for long-haul travels and single rooms for international assignments were added to match the men’s team policy, adding $500,000 in budget alone.
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Average Salary*
$50,000-$100,000
N/A
Number of Players
15 (3 with multi-year contracts)
14 (Women’s academy)
Match Fees
ODI: $2,300 T20I: $1,735
N/A
*Note: The match fees reflects equal match fees, when it does come into effect, based on our estimates for Men’s match fees.
Highest Paid West Indian WPL Player breakdown:Deandra Dottin earned approximately $269,200 in 2023-24. She had retired from international cricket, so no salary estimate is added.
West Indies played about 7 ODIs and 16 T20Is in 2024, which could add an additional $43,860 in match fees for those who played on top of the central contract.
Bottom Line: Failure to qualify for the 2025 ODI World Cup marked a low note for the 2016 T20 World Cup winners and the 2022 ODI World Cup semi-finalists. The successes in the last decade would have inspired a new generation of players. Does the WI have systems in place to capitalize for this talent?
Potential Challenges: The need to widen talent pool and depth to match the dominance of Australia & England.
“The MOU was signed by Cricket West Indies and the West Indies Players’ Association and set a clear path for West Indies cricket to achieve parity in international and regional match fees, international captain’s allowances, international team prize money and regional individual prize money for all West Indies cricketers by 1 October 2027.”
Goals
“Establishment of Key Performance Indicators for Territorial Boards linked to new funding model with clear minimum standards including dedicated support for women and girls programmes and high-performance programmes.”
Women’s Cricket Health: 🟠 Increasing Investments, low resources 10-Year Investment Trajectory: Increased annual investment from €500,000 ($582,000) before 2019 to €1.5M ($1.75M). The investment will go towards player contracts and match fees, coaching and support staff, infrastructure, etc. In 10 years, about $15-20M can be invested in women’s cricket if they continue on this path.
Average Salary: $50,000-$75,000 (including match fees).
Highest Paid Irish WPL Player breakdown: Gaby Lewis was selected in The Hundred as an overseas wildcard in 2023, where salaries may be between £7,500-£15,000 ($10,000-$20,000). This means her annual salary that year could have been close to $60,000-$100,000.
Ireland’s Women’s Socioeconomic Metrics
Female Labor Force Participation: 60.1%
WPSI: 0.892 (#13)
Female Literacy Rate: 99%
Global Inequality Index: 0.054 (#19)
Do they have a T20 league? No.
Tournament Performance: 0/23
Bottom Line: With high socioeconomic indices, Ireland shouldn’t have trouble progressing to the next level of professionalization in women’s cricket. The next step is to find more players that can consistently be selected in overseas T20 leagues to raise their standards.
Potential Challenges: They are investing well for their size, but they also need to think about widening their talent pool.
45% increase in women’s cricket investment (from 2016 to 2021)
1,582 female cricketers registered across all levels
Funding: Received €70,000 from Sport Ireland for 2024, with €103,038 total expenditure after carryover.
Broadcast Boost:Virgin Media aired women’s internationals free-to-air for the first time; €60,000 allocated to televise the England series at Clontarf.
Professionalization: Entry into the ICC Women’s Championship (2021) led to the first full-time contracts for women.
Sponsorship:Certa renewed as main team sponsor.
Goals (by 2023)
Get Cricket to be in top 10 choice of sports for girls in Ireland
Achieve 50% increase in participation
Develop talent pool of accredited female coaches and officials
Women’s Cricket Health: 🟠 National investment in grassroots women’s cricket growing, the beginning of professionalization for women’s cricket in the country. Investment Trajectory: Increased women cricket’s spending from 70M PKR ($249,000) to 240M PKR ($854,000).
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Average Salary*
$2,000-$12,500
420,000 PKR ($1,495)
Number of Players
20 (18 central, 2 emerging)
65
Match Fees
N/A
20,000 PKR/match 10,000 PKR (bench)
$1 = 281.04 PKR
Currently, a domestic Pakistan player can play upwards of 31 days of cricket in a year
The retainer salaries of Pakistan’s contracted players is not available. I’d expect it to be higher than their domestic salaries.
A number of players including Fatima Sana are in the upcoming WBBL draft. However, in the past, not Pakistan players have made it to the Hundred or WBBL teams.
Pakistan’s Women’s Socioeconomic Metrics
Female Labor Force Participation: 24.3%
WPSI: 0.481 (#158)
Female Literacy Rate: 46.5%
Global Inequality Index: 0.536 (#145)
Do they have a T20 league? No.
Tournament Performance: 0/23
Bottom Line: Pakistan have started domestic contracts, which is a step in the right direction. However, domestic pay is too low to encourage widespread growth at the moment.
Potential Challenges: Overcoming cultural and socioeconomic challenges to increase awareness and promote more girls taking up sports. Pakistan needs an inspiring tournament run to motivate a generation.
In the 2019-23 5-Year Plan, the PCB laid out their vision as follows:
Develop a National High Performance Center for women
Build infrastructure and development programs for female coaches
Ensure inclusion of women in reformed grassroots programs and integrate women’s cricket into the six Cricket Associations.
Pakistan’s 2025-26 domestic season includes tournaments for Women’s U-19 T20 Tournament, Inter-university tournaments, and National Women’s ODI and T20 tournaments signifying a step in the right direction.
“Our Pathways structure continues to evolve with the aim of building a strong future for Pakistan women’s cricket. The U19 T20 tournament, followed by the tour to Bangladesh will offer young players valuable exposure and an opportunity to develop the skills required at the international level…We are also actively engaging in discussion with various departments to introduce a departmental tournament for women’s cricket. This initiative will provide additional playing opportunities for our women cricketers.”
– Rafia Haider, Head of Women’s Cricket
This PCB Podcast with Rafia Haider is a revelation, which shows the planning and vision PCB has women’s cricket.
Overview of Women’s Cricket in Pakistan
“Socially, we have a limitation. We have been able to overcome these challenges, credit to PCB and support of parents...Progress has been made in the last couple of years especially with budgetary approvals, working on FTP, domestic setup add-ons. I am having a good time that I have an empowered role. We have domestic programs, 9 academies with dedicated support staff across Pakistan that works round the year…The rewards for best players have been enhanced. For our regional tournament, skills and fitness will be emphasized. We were lacking fitness standards, and this is a focus for us. Contracts will be based on fitness and performance...”
Create a Robust Inter-Collegiate Ecosystem
“Schools are non-existent (as development pool). Most of our players come from a handful of colleges and universities. The PCB has started new program for schools to register in and nominate their players (over 50 institutions have showed interest). Men’s cricket have clubs and street cricket. The goal is to create a proper inter-school and inter-collegiate tournaments. We are targeting U-15 and U-17 development to start off early that builds our U-19 pool…We are increasing number of series and engagements with international teams in both U-19 and national level…Merit based selection is key.”
Increasing Visibility
Until we increase visibility, we cannot increase engagement. Lack of awareness in women’s cricket can only be solved when our national stars become household names (ex: Sadia, Fatima, Diana who have broken the barrier). People appreciated our show in the Women’s WC Qualifiers. Projection is key, so families know that things can better. Trying to create positive engagement with current players via social media platforms so younger players to be part of the story.”
Domestic Infrastructure for Women’s Cricket
“HPC Karachi is dedicated for women’s cricket. Karachi stadium and facilities are available to women’s teams, U-19, and extended skill camps. We are working with the NCA to ensure additional support staff. We are also working with increasing stadium availability and intra-region practice matches. Coaching staff will engage within their districts and schools. We lack in the refereeing and coaching side. There are ex-players who have taken Level 2 & Level 3 coaching. We are trying to facilitate this with ICC and NCA to organize this. We are also increasing a focus on mixed refereeing.”
Message for the People
One thing that should change is the people’s attitude is bring their kids in. There is progress, but a lot more needs to come in. This is a societal effort, we need to realize that women’s sports is important. If you put your heart into it, hardwork is essential. Yes there are limitations in society and administration. We are trying our level best to bring cricket to their doorsteps, but people need to come forward as well.”
Women’s Cricket Health: 🟠 Low player salary, but structures beginning to be put in place Investment Trajectory: 30 domestic state contracts started this year.
Bangladesh player Salary breakdown: In 2024, Nigar Sultana played 6 ODIs and 19 T20Is, which earned her about $4,650 in match fees. Presuming that she has a Grade A contract, Sultana’s overall salary annually is between $17,000-$20,000.
Unfortunately, not many Bangladesh players have been selected for the WPL, WBBL, and the Hundred.
Bangladesh’s Women’s Socioeconomic Metrics
Do they have a T20 league? No.
Tournament Performance: 0/23
Female Labor Force Participation: 44.2%
WPSI: 0.593 (#131)
Female Literacy Rate: 72%
Global Inequality Index: 0.487 (#125)
Bottom Line: Bangladesh are showing signs of professionalizing, but need to elevate to the next level. If they produce 2-3 more world class players who get into the WPL/Hundred/WBBL drafts, then that can change the perspective of women’s cricket in Bangladesh.
Potential Challenges: Pay may be too low for aspiring women’s cricketers to devote a career into the sport.
“The women’s national contract is similar to the first-class players’ contract for male cricketers. The board has decided to introduce this in an effort to provide financial stability to a large pool of women cricketers. Thirty cricketers, who are not a part of the central contract, have been placed in the women’s national contract…”
Women’s Cricket Health: 🟠 Lower paid, just started professionalizing Investment Trajectory: A 23,855,000 LKR ($78,667) “ICC Women’s Cricket Financial Grant” was provided to SLC for 2023.
Central & Domestic Contracts
Category
Central Contracts
Domestic State Contracts
Average Salary*
2,400,000 LKR ($7,915)
N/A
Maximum Salary
3,600,000 LKR ($11,872)
N/A
Number of Players
25
15
Match Fees
$750/match $250 bonus for matches won
N/A
$1 = 303.24 LKR
National Contracts are divided in Grades A-D, but the amounts are not specified (salaries may range from 100,000 LKR to 300,000 LKR).
*Emerging players earn a ‘fixed monthly rate and an attendance allowance’
Highest Paid Sri Lankan WPL Player breakdown:Chamari Athapaththu earns approximately $226,741 annually before sponsorships and other awards:
$86,539 (£65,000): The Hundred
~ $71,671 ($110,000 AUD): WBBL, pre-signed
$34,159 (30 Lakh INR): WPL
$22,500: Match Fees (9 ODIs, 21 T20Is in 2024)
$11,872: Central Contract
Sri Lanka’s Women’s Socioeconomic Metrics
Female Labor Force Participation: 31.6%
WPSI: 0.743 (#60)
Female Literacy Rate: 91.6%
Global Inequality Index: 0.367 (#93)
Do they have a T20 league? No.
Tournament Performance: 0/23
Bottom Line: Sri Lanka have the heart, but the structure is just not there yet. I hope that the 2024 Asia Cup win inspired the next generation of talent so Sri Lanka are in a safer place after Athapaththu retires
Potential Challenges: Raising domestic salaries to professionalize the sport is the most important challenge Sri Lanka must overcome.
The ICC and other boards have pooled in money to support the displaced Afghanistan women’s cricket team to provide them with facilities, training camps, and practice matches.
USA, Netherlands, Thailand, and the UAE women’s teams are also teams that may rise in the next couple of decades.
I'm proud to announce on behalf of the @ICC a landmark initiative we've partnered on with the BCCI, England & Wales Cricket Board and Cricket Australia to assist displaced Afghan women cricketers in both their cricketing and development journeys.
Final Thoughts: Where Does Women’s Cricket Go from Here?
Aside from the lack of marketing and rain, the 2025 ODI World Cup marks another milestone with a record $13.88 million prize money. It reflects how much the women’s game has grown in visibility and value since the successful 2017 and 2020 World Cups.
Women’s cricket is no longer.a niche sport.
However, unless more countries 10x their investments in women cricket (and maybe the ICC needs to help out), Australia & England will almost always be in the finals and two out of South Africa-West Indies-India-New Zealand will complete the rest of the semi-finalists.
I am hopeful of Ireland, Scotland, and Sri Lanka rising up the ranks, but only time will tell.
For now, let’s admire Australia’s dominance and let it remind us what long-term planning can achieve in women’s cricket.
Zimbabwe had South Africa in trouble at 55/4 when debutant Lhuan-dre Pretorious inside-edged to the keeper. The fielding side went up. The umpire and Pretorious stayed still.
Zimbabwe has made an impressive financial comeback, turning their $19 million deficit into stability. As a result, they now have the funds to host 8 Tests, a major win for a small cricketing nation.
But 8 Tests mean up to 40 days of cricket. Even at the minimum rate, implementing DRS for that many days would cost them at least $480,000, and potentially well into the millions.
So, the trade-off is clear: Zimbabwe can either afford to hosts more Tests or implement DRS, but not both.
For those wondering about DRS costs due to the ongoing #SAvZim match,
DRS costs about $60,000-$100,000 a day
For a 2-Test (5 day) series, the costs will rise an extra $600,000 to $2 million
— Broken Cricket Dreams Cricket Blog (@cricket_broken) June 28, 2025
As many have suggested on social media, the more interesting question is: Can the ICC subsidize the cost of DRS around the world?
Taking a Look at ICC’s Financials
Key Takeaways
According to their 2024 Financial Report, the ICC recorded $474 million surplus in 2024, a slight drop from $596 million in 2023.
ODI World Cup years remain the most profitable for ICC, but revenues from T20 World Cups are closing the gap. Notably, 2018 was the only non-pandemic year where ICC recorded a loss ($46 million), incidentally the last time there was no men’s ICC event.
The Bottom Line: Funding DRS across all Test matches would cost the ICC less than 5.1% of the their annual operating costs and about 2.3% of their reserve balance.
ICC Revenues, Costs, Total Surplus
Revenues from ICC Events
Costs from ICC Events
Other Revenues/Costs*
Total Comprehensive Income
2024
+$728,474,000
-$231,674,000
-$22,762,000
+$474,038,000
2023
+$839,147,000
-$246,489,000
+$3,356,000
+$596,014,000
2022
+$412,862,000
-$168,000,000
-$36,487,000
+$208,375,000
2021
+$432,146,000
-$96,510,000
-$10,029,000
+$325,607,000
2020
+$34,771,000
-$34,387,000
-$18,800,000
-$18,416,000
2019
+$602,908,000
-$184,565,000
-$25,683,000
+$392,660,000
2018
+$34,337,000
-$49,501,000
-$31,238,000
-$46,402,000
*Other revenues/cost include interest and investment income, general and administrative expenses, foreign exchange, net gain on financial assets, strategic investments, etc.
In 2017, the ICC restructured its financial model for the 2015-23 period, eliminating the $10-million contribution towards the Test fund. Instead, they agreed to redistribute ICC’s surplus back to the boards after every few years (practically, a bonus). This change actually proved lucrative to the Full Members:
Adjustment of dividend against advance to Members:
2019: -$300,000,000
2023: -$1,418,522,000
“In 2023, these advances have been offset against the surplus distributed to Members with the first tranche of such distribution (i.e. dividends) amounting to USD 300 million declared during the year 2020 and the second/final tranche amount of USD 1,418.5 declared during the year 2023, both with the approval of the Board of Directors.”
“The success of our media rights and commercial programme for our next four-year cycle means we are able to invest more money than ever before into our sport…This is by far the largest level of investment ever to go into cricket. It’s a once-in-a-generation opportunity for our Members to accelerate growth and engage more plays and fans and drive competitiveness.”
The Math: What Would it Actually Cost to Fund DRS Globally
There are 71 Test matches scheduled in the current World Test Championship (WTC) cycle.
Suppose, Zimbabwe, Afghanistan, and Ireland, who are not part of the WTC, play 32 Tests in the next two years. (They are already playing 17 this year, Zimbabwe – 11, Afghanistan – 3, Ireland – 3).
That brings the total to roughly 103 Test matches, or a maximum of 515 days of Test cricket. Recall that DRS costs vary widely based on the setup:
Barebones system: $12,000-$15,000/day
Full-feature DRS: $60,000-$100,000/day
Suppose the ICC negotiates through partnerships, media rights, and pays upfront for the DRS, bringing the costs down to $50,000 per day for a full-functioning system.
At this conservative average,
$50,000/day x 515 days = $25.75 million
Spread over 2 years for the WTC cycle, that’s ~$12.88 million per year
That’s a fraction of ICC’s annual expenses and even less if we consider when you consider the finds available in the reserve pool (And if we really think about it, that’s about the amounts Rishabh Pant ($3.21 million), Shreyas Iyer ($3.18), Venkatesh Iyear ($2.83), Arshdeep Singh ($2.14), and Yuzvendra Chahal ($2.14 million) were paid this year in the IPL. So the money exists in the cricketing world, but the redistribution is the issue).
One alternative approach could be to decouple Snicko and Hawkeye from the DRS package. Snicko alone can cost as little as $3,500/day, while Hawkeye is the most expensive part of the DRS package.
Another idea is for the Big 3 to fund their own DRS (since they have deals with media companies) and for ICC to subsidize DRS outside the Big 3.
Should the ICC Bear the Cost of DRS?
Can the ICC bear the Cost of DRS? Yes.
But should they? That’s less straightforward.
If the ICC uses reserve funds to cover DRS, it may come at the cost of other priorities: Associate cricket development programs, women’s cricket, and grassroots infrastructure. $12-15 million is not a small amount.
Even if those areas are not directly impacted, protecting the surplus might push the ICC further down its current trajectory: expanding media rights, but at the cost of a competitive balance.
The trade-offs?
India-Pakistan forced together in group stages again
ODI World Cup limited to 10-14 teams
Champions Trophy kept alive with little purpose beyond revenue
Back-to-back T20 World Cups, reducing space in the cricket calendar
So yes, the ICC can pay for the DRS, but doing so means reconsidering what they value the most: commercial growth of the game or its fairness.
What would you choose? Risk losing hundreds of thousands of dollars for one inside edge decision or let a single moment swing the course of a match?
****
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India’s $923 million in reserves is greater than the financial balance of the other 11 Test nations combined (~ $734 Million). India has been profitable in at least each of the last 10 years.
For financially strong boards like India and England, ICC distributions make up only around 10% of their total revenue. In contrast, boards such as Zimbabwe (~85%) and others like Afghanistan, Sri Lanka, and New Zealand (each around 48%) remain heavily reliant on ICC funding.
Some of the more surprising outcomes include Australia currently operating at a loss, and Bangladesh and Pakistan ranking unexpectedly high. On a positive note, South Africa, New Zealand, Sri Lanka, West Indies, and Zimbabwe have all recovered from COVID-era setbacks and now maintain at least some level of reserve capital.
How I Evaluated the Financial Health of Cricket Boards
To assess the financial strength of cricket boards, I reviewed the official financial statements of all 12 Full Member nations. Based on this analysis, each country is assigned a category reflecting its overall financial health.
🟢 Financially Strong: India, Bangladesh, England, Pakistan, South Africa, New Zealand, Sri Lanka
🟡 Stable: West Indies, Zimbabwe, Afghanistan
🔴 Financially Vulnerable: Australia, Ireland
The classification is based primarily on each board’s most recently reported reserves, but also considers long-term trends in profitability, revenue, expenditure, and annual surplus or deficit over the past 5-10 years, wherever data was available.
In a previous analysis, I estimated that hosting a Test match can cost between $350,000-$1.4 million. This benchmark, combined with each board’s current reserves and cash flow, helps assess whether they can sustainably host Test cricket. To host 5 home Tests per year as part of a 10-Test calendar, a cricket board would need at least $1.7 to $7 million in available cashflow and reserves.
BCCI earned a profit of 5,761.01 Crore INR from the IPL in 2023-24. contributing to 59.14% of their total revenue. The WPL resulted in a surplus of 377.50 Crore INR.
For the 2023 ODI World Cup, BCCI received Rs. 324.95 Crore INR, while the expenses were 276.15 Crore INR.
The 2023-24 ICC distribution was 1042.35 Crore INR ($115,496,100).
Financial Health: 🟢 Strong (on paper) 6-Year Financial Trend: Balance rose from $82M (2022) to $427M (2023), mostly via assets
COVID Recovery: ✅ Fully recovered.
Can They Afford to Host Tests? ✅ Yes, but long series may strain resources. They currently have $16.99 million in cash flow, which should be good enough for them to host 5 Test series in a season.
India Tour Dependency:Low. India toured Bangladesh in 2019/20, 2022/23 (+3 ODIs), and 2024/25 for 2 Test. There was not a meaningful enough changes in the finances in India tours.
ICC Income: $16 million (34.12% of annual revenue)
Bottom Line: Growth is real, but heavily skewed by asset gains. Still reliant on consistent tours and ICC support.
*Note: BCB had 2017-20 annual report and 2022-23 but not one for 2020-21 period.
Additional Notes:
The gain of assets took BCB’s balance from 10,654,580,032 BDT ($87 Million) to 46,205,040,900 BDT ($377.31 Million).
Quote from Annual Report
“The BCB finances have been boosted by proactive steps taken by the Board since 2017. This is evident in the figures. In the six years between 2011 and 2016 the Board had earned US $33.32 million in media, team sponsor and other rights while in just three years from 2017 to 2020, the BCB’s earnings stood at approximately US $29 million from the same sources.
Financial Health: 🟢 Exceptionally Strong 10-Year Financial Trend: Reserves grew from a low of $2.2 million (2021) to $69.29 million (2025), but incurred a small operating loss for the 2024-25 financial year.
COVID Recovery: ✅ Fully recovered. Suffered a loss of £14.875 million in 2020. They then had three consecutive years of profits between 2022-2024.
Can They Afford to Host Tests? ✅ Enough reserves and cash flow to host marquee Test series.
India Tour Dependency:Moderate. Can survive without India and Ashes for a couple of seasons, but because of their high administrative expenses, they need these tours often. 2019 (Ashes + WC), 2023 (Ashes), and 2022 (India tour) all resulted in profits.
ICC Income: $41.33 Million (10.35% of annual revenue)
Bottom Line: Large revenues but also large administrative expenses. Ashes and India tours drive profitability.
ECB Reserves (2015-2025)
2015: +£ 70,039,000($111.17 Million) – @ £0.63 per USD
2016: +£ 73,106,000($104.44 Million) – @ £0.70 per USD
2017: +£ 35,747,000($44.68 Million) – @ £0.80 per USD
2018: +£ 8,580,000($12.08 Million) – @ £0.71 per USD
2019: +£ 11,248,000($14.80 Million) – @ £0.76 per USD
2020: +£ 17,097,000($22.20 Million) – @ £0.77 per USD
2021: +£ 2,222,000($3.04 Million) – @ £0.73 per USD
2022: +£ 22,973,000($30.63 Million) – @ £0.75 per USD
2023: +£ 35,392,000($43.69 Million) – @ £0.81 per USD
2024: +£ 58,246,000($73.73 Million) – @ £0.79 per USD
2025: +£ 55,431,000 ($69.29 Million) – @ £0.80 per USD
2025 Cash Flow: £263,343,000 ($329.18 Million)
*Even though there is a great deal of cash at hand, the amounts falling due within one year to creditors is £258,225,000.
ECB Turnover and Expenses
*Year Ended 31 January, 2025
Year
Turnover
Administrative Expenses
Other Gains/Charges*
Total Comprehensive Income
2016
+£133,967,000
–£114,186,000
–£16,714,000
+£3,067,000
2017
+£118,886,000
–£137,166,000
–£19,079,000
-£37,359,000
2018
+£125,465,000
–£137,761,000
–£14,871,000
–£27,167,000
2019
+£172,319,000
–£142,376,000
–£27,275,000
+£2,668,000
2020
+£227,993,000
-£164,182,000
–£57,962,000
+£5,849,000
2021
+£207,112,000
-£191,097,000
–£30,890,000
–£14,875,000
2022
+£302,504,000
–£226,171,000
–£55,582,000
+£20,751,000
2023
+£334,019,000
–£248,676,000
–£72,924,000
+£12,419,000
2024
+£336,066,000
–£248,540,000
–£64,672,000
+£22,854,000
2025
+£319,558,000 (+$399,447,500)
–£259,305,000 (-$324,131,250)
–£63,068,000 (-$78,835,000)
–£2,815,000 (-$3,518,750)
*Other gains and charges include Cost of Sales, other operating income, tax on profit, and effective portion of changes in fair value of cash flow hedges.
Quote from Annual Reports
“In 2017, ECB continued with high levels of contributions to our cricket network and stakeholders. A special fee distribution of +£1.3m was paid to each First Class County in each 2016 or 2017, relating to the 2018 home India series broadcast revenue. A further special distribution of +£1m is scheduled to be paid to each First Class County in either 2018 or 2019, relating to Cricket World Cup 2019 revenue. These previously unprecedented contributions, coupled with continued significant investment in strategic Participation and Growth initiatives, including the expansion of our first nationwide entry-level programme, resulted in a loss for the financial year of – £ 30.2 m (2016: – £ 37.3m).”
“Cricket was always going to face a difficult challenge to compete for engagement in 2024. While England Men hosted West Indies and Sri Lanka in a non-Ashes year, a blockbuster sporting summer saw both the Paris Olympics and the men’s football Euros taking place in the same time zone. This was not helped further by poor weather, particularly in the first half of the summer. Despite this, attendance of 2.84m represented our best ever attendance for a non-Ashes or India year. The recreational game saw record highs in terms of participation, driven by an increase of around 10 per cent in women’s and girls’ sections and teams.
Financial Health: 🟢 Stable 10-Year Financial Trend: Surplus increased from $65 million (2015) to $71.83M (2023).
COVID Recovery: ✅ Fully recovered. Had a slight loss in 2021 ($2.9 million loss), but have been above water year after year otherwise.
Can They Afford to Host Tests? ✅ Yes. $62 million of cash in hand, annual profit of $10.9 million last year. Can definitely host a few 3 to 4-match Test series
India Tour Dependency:None. PCB are surviving even without India tours (Indirectly though, the ICC pool grows due to India-Pakistan ICC matches, which increases the amount that ICC pays each board).
ICC Income: $16 million (27.93% of annual revenue)
Bottom Line: Financially solid with recent home series in Pakistan. However, despite nominal growth in reserves, the sharp devaluation of the Pakistan Rupee from 104 PKR per USD in 2017 to 286 in 2023 has significantly eroded the real value of those gains.
PCB Reserves
2015: + 6,694,788,996 PKR ($65,748,316)– @ 101.8 PKR per USD
2016: + 8,283,173,629 PKR ($79,058,370)– @ 104.77 PKR per USD
2017: + 8,434,024,058 PKR ($80,447,198) – @ 104.83 PKR per USD
2018: + 8,283,173,629 PKR ($68,040,457)– @ 121.73 PKR per USD
2019: + 13,263,657,218 PKR ($84,237,003)– @ 157.47 PKR per USD
2020: + 17,099,164,322 PKR ($102,077,260)– @ 167.50 PKR per USD
2021: + 16,262,237,513 PKR ($103,189,088) – @ 157.61 PKR per USD
2022: + 17,304,552,163 PKR ($83,804,720) – @ 206.50 PKR per USD
2023: + 20,393,054,686 PKR ($71,829,749) – @ 286.62 PKR per USD
2023 Cash Flow: PKR 17,978,488,170 ($62,696,229)
PCB Revenues and Expenses
*Year ended June 30, 2023
Year
Revenues (in PKR)
Operating Cost (in PKR)
Other Gains/Charges* (in PKR)
Total Comprehensive Income (in PKR)
2016
+4,143,841,297
–3,299,320,243
+691,161,695
+1,535,682,749
2017
+4,373,244,912
–4,034,088,153
–135,604,446
+203,552,313
2018
+5,131,003,966
-5,136,332,519
-145,521,876
–150,850,429
2019
+11,248,251,959
–5,907,837,843
–359,930,527
+4,980,483,589
2020
+9,334,821,085
–5,030,821,564
–468,492,417
+3,835,507,104
2021
+6,330,842,117
-7,086,927,287
–1,258,277,393
–835,926,809
2022
+9,033,872,425
-7,599,150,590
–393,407,185
+1,041,314,650
2023
+16,424,122,531 (+$57,293,595)
-12,450,222,610 (-$43,446,377)
–885,478,598 (-3,089,210)
+3,088,502,523 (+$10,934,428)
“During this period, PCB hosted England twice after 17 years for two memorable series. Similarly, New Zealand also toured Pakistan twice for the red and white-ball series, and our teams toured Sri Lanka, the Netherland, Sharjah and participated in ICC Men’s T20 World Cup in Australia….In conclusion, PCB’s financial health continues to strengthen with cash reserves reaching its highest level ever.“
Financial Health: 🟢 Recovering 10-Year Financial Trend: Pre-Covid, CSA’s reserve went as high as $85.68 million, but 5 loss-making years between 2017-23 dropped their reserves to $20.02 million. A strong 2024 saw them bounce back to $63.83 million.
COVID Recovery: ✅ Fully recovered.
Can They Afford to Host Tests? ✅ Yes, +$50.97 million cash flow at the end of 2024 financial year.
India Tour Dependency:Very High. India’s 2023/24 tour (2 Tests, 3 ODIs, 3 T20Is) was a massive boost to CSA’s revenues.
ICC Income: R567 million – $30.58 million (37.88%)
Bottom Line: CSA now has both the surplus and cash flow to support Test cricket.
Why are the World Test Champions not hosting Tests in 2025?
South Africa will be going through stadium upgrades as they prepare to host the 2027 ODI Cricket World Cup. Hence, they will not be hosting a home Test, especially the esteemed Boxing Day Test.
In 2026-27, home Tests will be back for South Africa: 3 Tests vs Australia and England and 2 Tests vs Bangladesh. Women Tests vs Australia and India.
In the last 10 years, the Rand has gone from $1 USD = R. 9.65 to $1 USD ~ 18 R.
2013:+R400,011,000 (+$37.96 Million) – @ R10.54 per USD
2014:+R599,421,000 (+$53.95 Million) – @ R11.11 per USD
2015:+R707,095,000 (+$57.72 Million) – @ R12.25 per USD
2016:+R814,254,000 (+$57.07 Million) – @ R14.27 per USD
2017:+R655,444,000 (+$49.07 Million) – @ R13.35 per USD
2018: +R1,056,445,000 (+$85.68 Million) – @ R12.33 per USD
2019: +R856,430,000 (+$59.26 Million) – @ R14.45 per USD
2020: +R906,692,000 (+$48.33 Million) – @ R18.76 per USD
2021: +R685,669,000 (+$47.72 Million) – @ R14.37 per USD
2022: +R487,795,000 (+$30.87 Million) – @ R15.80 per USD
2023: +R368,406,000 (+$20.02 Million) – @ R18.40 per USD
2024: +R1,183,262,000 (+$63.83 Million) – @ R18.54 per USD
2024 Cash Flow: R 945,008,000 ($50.97 Million)
CSA Revenues and Expenses
*Year ending April 30, 2024
Year
Revenues
Operating Cost
Other Gains/Charges*
Total Comprehensive Income
2015
+R765,600,000
-R695,476,000
+R37,550,000
+R 107,674,000
2016
+R822,926,000
-R777,047,000
+R61,280,000
+R 107,159,000
2017
+R674,935,000
-R910,392,000
+R76,647,000
-R 158,810,000
2018
+R1,526,393,000
-R1,219,049,000
+R42,655,000
+R 349,999,000
2019
+R929,492,000
-R1,215,801,000
+R86,294,000
-R 200,015,000
2020
+R1,074,063,000
-R1,193,672,000
+R169,871,000
+R50,262,000
2021
+R512,438,000
-R732,362,000
-R1,099,000
-R 221,023,000
2022
+R778,353,000
-R996,624,000
+R19,397,000
-R 197,874,000
2023
+R700,240,000
-R904,441,000
+R84,812,000
-R 119,389,000
2024
+R1,888,455,000 (+$101,860,909)
-R1,158,812,000 (-$62,480,037)
-R85,213,000 (-$4,596,438)
+R 814,856,000 (+$43,943,740)
Other gains/charges includes investment income, net foreign exchange gains, fair value adjustments, share of loss from associate, share of profit from joint venture, and impairment of investment in associate
Quotes from Annual Reports
“We realised a 170% increase in revenue, reaching R1.89 billion. This increase was anchored by the inbound tour by India, and supported by several initiatives, including the successful hosting of the ICC U19 World Cup 2024.”
“Our financial stability has been reinforced with a net cash inflow of R810 million from operating activities and other strategic investments, including in African Cricket Development, the company behind the SA20 product. …The outcome was a profit before tax of R815 million, reversing the previous year’s loss.”
“I am pleased to present a strong financial performance for the year ending 30 April 2024. The results reflect revenue of R1.89 billion and net profit of R815 million, exceeding expectations and putting CSA in a healthy financial position for the balance of our four-year financial cycle and beyond.”
“Sri Lanka Cricket has stepped into 2024 with financial flexibility, a healthy balance sheet and bottom line, while having remained steadfast in our commitment to the development of the sport locally and in the international arena. In 2023, SLC has committed operational expenditure of 4.3 billion rupees towards international cricket and 2.8 billion rupees towards domestic cricket, providing vital funding to ensure that both structures have the best opportunities to achieve success.”
“The financial results in 2023 yet again demonstrates Sri Lanka Cricket’s prudent management of finances, as we made a revenue of 1,959 million (includes Participation Fee Income-Inbound from ACC, Participation Fee Income-Outbound from ACC, Sponsorships, Ground Hiring Income from Pakistan Cricket Board, Development Grant from ACC), positioning us strongly to invest in cricket and ensure its future growth.”
Financial Health: 🟨 Modest 10-Year Financial Trend: Reserves balanced between $10-20 million since 2016, with minor dip in 2022.
COVID Recovery: ✅ Recovered. 4 out of 5 years in the green from 2020-24.
Can They Afford to Host Tests? ✅ Yes, but usually break-even or slight loss.
India Tour Dependency:Very high. India toured NZ in 2019/20 and 2022/23 (England also visited), both high profit years for NZC. Australia visited in 2024, which was also a profitable year.
ICC Income: 28.38 Million (48.45% of 2024 revenue)
Bottom Line: Well-run but tight margins. Financial health depends on India or ICC deals.
NZC Reserves (2016-2024)
2013:+ $ 7,077,531 NZD ($5.44 Million USD) @ $1.30 NZD per USD
2016:+ $32,628,000 NZD ($23.47 Million USD) @ $1.39 NZD per USD
2017:+ $26,043,000 NZD (19.29 Million USD) @ $1.35 NZD per USD
2018: + $17,879,000 NZD ($12.16 Million USD) @ $1.47 NZD per USD
2019: + $15,149,000 NZD ($10.10 Million USD) @ $1.50 NZD per USD
2020: + $19,829,000 NZD ($13.13 Million USD) @ $1.51 NZD per USD
2021: + $20,384,000 NZD ($14.26 Million USD) @ $1.43 NZD per USD
2022: + $13,653,000 NZD ($8.59 Million USD) @ $1.59 NZD per USD
2023: + $29,205,000 NZD ($18.03 Million USD) @ $1.62 NZD per USD
2024 Cash Flow: $33,881,000 NZD ($20.17 Million USD)
NZC Revenue and Expense
Balance as of 31 July, 2024
Year
Revenue (in $ NZD)
Operating Cost (in NZD)
Other Gains/Charges* (in NZD)
Total Comprehensive Income (in NZD)
2017
+$48,709,000
–$41,757,000
-$13,537,000
–$6,585,000
2018
+$55,442,000
–$42,231,000
-$21,375,000
–$8,164,000
2019*
+$59,400,000
-$60,700,000
+$0
–$1,300,000
2020
+$60,610,000
–$40,734,000
-$15,196,000
+$4,680,000
2021
+$62,518,000
–$43,509,000
–$18,454,000
+$555,000
2022
+$66,401,000
-$46,496,000
-$26,636,000
-$6,731,000
2023
+$97,064,000
-$63,067,000
-$18,445,000
+$15,552,000
2024
+$98,402,000 (+$58,572,619 USD)
-$64,136,000 (-$38,176,190 USD)
-$28,654,000 (-$17,055,952 USD)
$5,612,000 (+$3,340,476 USD)
*2019 Annual Report was not available, so the estimate is based on the 2017-18 and the 2020-21 reports (The -$60,700,000 includes both operating cost/other charges).
Quotes from Annual Report
“As our positive 2023-24 fiscal result shows, NZC is in a sound financial position, something of major importance to our Major Associations given our top-down funding model. Our long-term forecast warns of some head winds, and we have taken steps to ensure we will be best placed to navigate what is currently a volatile global cricket environment.”
“This is a plan that strives to safeguard the financial and commercial sustainability of NZC for the benefit of all, placing high amongst its priorities the need to invest and grow our commercial foothold in South Asia, to operate in an environmentally sustainable fashion, and to build strong partnerships with our broadcast partners at home and in India. The bottom line is that we all depend on each other to survive and flourish.”
“Revenue from broadcast, sponsorships, and ticketing all delivered year-on-year growth as new partnerships were formed, both domestically and offshore, including the marquee and offshore, including the marquee deal reached with Sony as our broadcast partner in the India sub-continent from 2024-2031.”
Financial Health: 🟨 Rebounding 6-Year Financial Trend: Recovered from –$18.9M (2017) to +$10.8M (2022)
COVID Recovery: ✅ Recovered.
Can They Afford to Host Tests? ✅ Yes. They are hosting 8 Tests this year, but need to be cautious. They have plenty in reserves, but cash flow tends to be low.
India Tour Dependency:Very high. India visited Zimbabwe for 3 ODIs in 2022, which corresponds to the largest revenue they had in the six-year period. Hosting ICC Qualifiers also gives them a boost.
ICC Income: $13.5 Million (85.29% of 2022 Revenue)
Bottom Line: Quiet financial rebuild. Still ICC-reliant, but out of crisis.
Financial Health: 🟨 Fragile 10-Year Financial Trend: Flat but steady. Modes surplus maintained since 2020.
COVID Recovery: ✅ Recovered, but hindered by sanctions.
Can They Afford to Host Tests? ❌ Not realistically, neutral venues inflate costs
India Tour Dependency:Moderate. While India doesn’t play Afghanistan often, it has played an indirect role in Afghanistan’s development with IPL contracts and home stadiums in Dehradun and Lucknow.
ICC Income: $4.75 Million (48% of revenue). This will rise to about $16.82 million in the 2024-27 cycle.
ACB Reserves (2017-2022)
Bottom Line: Surviving via ICC support. Lack of a home base continues to hurt.
2017:+1,902,994
2018: +$538,841
2019: +$1,550,462
2020: +$1,940,462
2021: +$2,180,462
2022: +$5,250,462
ACB Revenues and Expenses
Year
Revenues
Operating Cost
Total Comprehensive Income
2018
+$10,849,111
–$12,213,264
– $1,364,153
2019
+$13,121,708
–$12,110,087
+$1,011,621
2020
+$7,150,000
–$6,760,000
+$390,000
2021
+$6,170,000
–$6,410,000
+$240,000
2022
+$9,920,000
-$6,850,000
+$3,070,000
Additional Notes
ACB is investing heavily in developing domestic cricket stadiums, namely (1) Kabul International Cricket Stadium, (2) Logar Cricket Ground, (3) Najibullah Tarakai International Cricket Ground, (4) Paktika Cricket Ground, (5) Wardak Cricket Ground, and (6) Balk Cricket Ground. Budget for each ground ranges from $1-5 million.
Quotes from Annual Reports
“Hosting bilateral series and other tournaments is a significant challenge for Afghanistan…has had to host all of its ‘home’ games in neutral countries such as the United Arab Emirates, India, or Qatar. This has resulted in increased expenses for the ACB, as it has to host both the Afghanistan team and the visiting team at the same time, which incurred higher costs for logistical arrangements and accommodation of both teams.”
“The recent political changes in the country have made it more challenging to transfer money into Afghanistan due to imposed international sanctions. This has caused difficulties for the Afghanistan Cricket Board (ACB) as most of its income comes from ICC distributions, the payments made twice a year. However, the ACB’s leadership and finance team have been working closely with the ICC to find alternative ways to transfer funds into the country to support the organization overcome this issue in the long term.”
“During 2018, ACB hosted Zimbabwe and Bangladesh in February and June, respectively. The forecasted revenue for each series was forecasted at USD 400k.”
Financial Health: 🔴 Negative Reserves, but Expected to Rebound 10-Year Financial Trend: Cricket Australia slipped from $111.03 Million USD reserves in 2016 to a $234K deficit in 2024. Six of the last 10 years have resulted in losses. Massive profits from the 2015 World Cup year has been keeping them afloat.
COVID Recovery: ❌ Still incomplete.
Can They Afford to Host Tests? ✅ Yes, but high operating costs make financial planning critical.
India Tour Dependency:High. CA posted profits in 2019 and 2021 with record revenue numbers.
ICC Income: $37.53 Million (13.86% of 2024 annual revenue)
Bottom Line: CA currently has negative reserves, but cash on hand ($25.7 M AUD), access to $50 M in secured funding. The recently concluded BGT and upcoming Ashes in 2025-26 will put them in a position to bounce back over the next two years.
CA Reserves (2013-2024)
2013: +$8,147,220 AUD ($7.47 Million USD) – @ $1.09 AUD per USD
2014: +$26,676,000 AUD ($25.17 Million USD) – @ $1.06 AUD per USD
2015: +$114,168,000 AUD ($88.52 Million USD) – @ $1.29 AUD per USD
2016: +$149,895,000 AUD ($111.03 Million USD) – @ $1.35 AUD per USD
2017: +$98,600,000 AUD ($75.27 Million USD) – @ $1.31 AUD per USD
2018: +$87,841,000 AUD ($65.07 Million USD) – @ $1.35 AUD per USD
2019: +$97,743,000 AUD ($65.07 Million USD) – @ $1.43 AUD per USD
2020: +$54,588,000 AUD ($37.39 Million USD) – @ $1.46 AUD per USD
2021: +$59,450,000 AUD ($45.05 Million USD) – @ $1.32 AUD per USD
2022: +$48,795,000 AUD ($33.18 Million USD) – @ $1.47 AUD per USD
2023: +$31,901,000 AUD ($21.27 Million USD) – @ $1.50 AUD per USD
2024 Cash Flow: $25,621,000 AUD ($17.09 Million USD)
Cricket Australia might have low reserves, but their total assets total $96,589,000 AUD ($64.39 Million USD)
CA Revenues and Expenses
*Year ending 30 June, 2024
Year
Revenues(in AUD)
Operating Cost(in AUD)
Other Gains/Charges* (in AUD)
Total Comprehensive Income (in AUD)
2014
+$295,897,820
-$193,784,041
-$82,585,431
+$18,528,348
2015
+$380,875,000
-$227,259,000
-$66,124,000
+$87,492,000
2016
+$339,787,000
-$223,826,000
-$80,234,000
+$35,727,000
2017
+$313,005,000
-$251,582,000
-$112,718,000
–$51,295,000
2018*
+$399,265,000
–$272,077,000
-$137,947,000
–$10,759,000
2019
+$485,901,000
-$340,201,000
-$135,798,000
+$9,902,000
2020*
+$390,098,000
–$305,474,000
-$127,779,000
–$43,155,000
2021
+$405,350,000
-$302,350,000
–$98,138,000
+$4,862,000
2022
+$391,004,000
-283,439,000
-$118,220,000
–$10,655,000
2023
+$426,643,000
-$324,192,000
-$119,345,000
-$16,894,000
2024
+$406,245,000 (+$270,830,000 USD)
-$318,036,000 (-$212,024,000 USD)
-$120,473,000 (-$80,315,000 USD)
–$32,264,000 (-$21,509,000)
*’Member Funding’ and ‘Strategic Funding’ contribute to the other gains
Additional Notes:
Player salaries alone cost $121.4M AUD in 2024, underlining the board’s heavy expenditure base.
CA’s share of the 2015 World Cup host profit added $51M AUD to its earnings that year.
Quotes from Annual Reports
“The net result of operations for the year ended 30 June 2017, after distributions to State Associations of $112,242,699 (2016:$106,259,550) was a net loss of $50,802,002 (2016: surplus $9,701,628). The reduction in net result for the year ended 30 June 2017 was in line with Management and budgetary expectations and the Long Range Plan (LRP) four year planning cycle projections.”
“As we know, CA is currently at a low-point in its four-year cycle. Despite this, the first year of the new player agreement has resulted in a 7% uplift in player payments, and the extension of funding agreements with members included a 3.5% uplift this year. The net deficit for the current year, after funding to members, is $31.9M, a further $14.7M down to the previous year. Considering the content-driven $18.2M year-on-year revenue decrease, this result was anticipated and highlights the emphasis on managing costs and driving revenue through business transformation initiatives. CA depleted its reserves through the impacts of COVID, which in aggregate cost around $100m. Despite this, CA has cash and deposits of $25.7m, with a further $50m in funding available though a secured banking facility and is forecast to rebuild reserves through upcoming seasons hosting India and England.
Financial Health: 🔴 At-risk 7-Year Financial Trend: After modest reserves between 2019-2021, Cricket Ireland’s financial reserves have fallen to $3.15 million deficit in 2023. That year marked a critical transition point, with signs of stability ahead.
COVID Recovery: ❌ Not yet complete.
Can They Afford to Host Tests? ❌ Not currently. Their cash in hand has dropped from €1,336,4995 to €434,185 between 2022 and 2023. Hosting even a single Test would leave virtually no liquidity.
India Tour Dependency:High. Indias’s T20I visits (2 each in 2018 & 2022 and 3 T20Is in 2023) lead to noticeable revenue spikes, but also increased costs. Even an England tour could ease the pressure.
ICC Income: $4.75 Million in 2023 (40.36% of annual revenue). Under the 2024-27 ICC distribution model, Ireland is projected to earn $18.04 million offering a welcome financial cushion.
Bottom Line: Ireland remains heavily dependent on ICC funding, and current financial fragility limits its ability to invest ambitiously in the short term.
Cricket Ireland Reserves (2018-2023)
2017: +€216,817 (+199,472) – @ € 0.92 per USD
2018: +€13,470 (+$11,710.2) – @ € 0.87 per USD
2019: +€3,673 ($3,306) – @ € 0.90 per USD
2020: +€1,541,035 (+$1,263,648) – @ € 0.82 per USD
2021: +€310,166 (+$272,946) – @ € 0.88 per USD
2022: +€133,982 (+$125,943) – @ € 0.94 per USD
2023: -€3,464,422 (-$3,152,624) – @ € 0.91 per USD
2023 Cash In Bank and in Hand:€ 434,185
Cricket Ireland Revenues and Expenses
The financial end for Cricket Ireland year is 31 December.
Year
Income
Expenses
Total Retained Earnings
2018
+€9,708,177
– €9,911524
-€203,347
2019
+€10,624,514
–€10,634,311
-€9,797
2020
+€7,934,398
–€6,397,036
+€1,537,362
2021
+€9,739,048
–€10,969,917
-€1,230,869
2022
+€13,103,793
–€13,279,977
-€176,184
2023
+€10,211,129 (+$11,769,397)
-€13,809,533 (-$15,916,935)
-€3,598,404 (-$4,147,538)
*expenses include both direct and administrative expense and Income includes both ‘income’ and ‘other operating income.’
Quotes from Annual Report
“2023 was a challenging, but ultimately successful year – both on- and off-the-field…Covid was still a real and present threat when this Strategic Plan was developed and the uncertainty of the time saw an ambitious but measured document…However, as we enter a new phase in our development as a cricket nation, we will see an uplift in our ICC distribution over the period, and anticipate our allocation to be approximately US$70M, albeit weighted to the backend where around 40% of these funds will be paid in 2027….2023 will be a year to remember for many – and it will hopefully be seen in time as a seminal year for Irish cricket.”
I can understand why South Africa, Sri Lanka, and New Zealand did not host many Tests in recent years.
COVID-19 losses, funding issues, and player availability made things complicated. But now? These boards have rebuilt their reserves. ICC distributions are growing, and India tours bring massive broadcast revenue.
Countries like Ireland and Afghanistan still cannot afford to host a single Test. Australia, despite paying its players among the highest salaries in the game, hasn’t turned a profit in years. India sits at the economic center of world cricket, and it is doing its part.
The money now exists for countries outside the Big 3. The onus is now on every board to give Test cricket the calendar space it deserves.
****
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Legacy or Livelihood: Dilemma Facing Modern Cricketers
Nicholas Pooran and Heinrich Klaasen made their choices.
They were not dropped. They simply walked away.
Why? Because they received better offers.
Pooran stepped away from international cricket at 29. Klaasen followed at 33. The one that started the trend: Quinton de Kock left Tests at 29 and all internationals by 31.
International cricket once offered pride, purpose, and legacy. But today, that is no longer enough. One IPL deal can outpay a decade of national contracts. T20 leagues offer flexibility, certainty, and family time. International cricket? Long tours, lower pay, and a scheduling mess.
Nicholas Pooran could earn $3.09-$4.03 million across 9 franchise leagues and play around 91 matches in a year (more if team qualifies for playoffs/finals).
In contrast, a West Indies central contract and international match fees would only add about $130,000-$180,000.
Had they signed central contracts, Klaasen and Pooran would have earned just 5-16% and 3-6% respectively of their total income from international cricket.
By comparison, top players from the wealthier big 3 boards earn significantly more from internationals:
Joe Root: 83.43% of $1.63 million, Mitchell Starc: 32-38% of ~$2.3 million, and Virat Kohli: 32% of $3.9 million
*Note: We will only look at national contracts, match fees, and franchise league income (not sponsorship or miscellaneous income).
How Much Does Nicholas Pooran Earn from Franchise Leagues?
Cricket West Indies (CW) is actually in its strongest financial position in years. As detailed in our financial deep dive, CWI turned a $21 million deficit into a $46 million surplus.
For the first time in a decade, they can afford to host 3-match Test series, upgrade infrastructure, and explore player retention strategies.
And yet, it was not enough to keep their biggest star.
Nicholas Pooran does not play Tests and has not featured in an ODI since 2023 (arguably is his strongest format). And with West Indies failing to qualify for the 2023 ODI World Cup and the 2025 Champions Trophy, his international workload had vanished.
If Pooran had signed a central contract, he would have earned just 3.35-6.61% from international cricket. Here is how the numbers stack up:
Central Contract: $100,000-$150,000 (If he had signed the national contract)
Match Fees: $31,200 (he played 18 T20Is in the last 12 months)
IPL Salary: $2.1 million
IPL Match Fees: $126,000
Other Franchise League Salary: $783,000-$1,807,000
If he continued playing international cricket, he would likely need to drop two franchise leagues, costing him $200,000-$400,000 in total earnings. That would bring his total down to $2.74 million-$3.91 million.
Percent of Annual Income from Central Contract:3.35-6.61%
Nicholas Pooran’s Salary Breakdown (Franchise Only)
Pooran will most likely earn the most sought after prices in each of the franchise leagues. We have provided an estimate of each of his leagues (based on averages and maximum cap the league has).
Earning about $3.09-$4.03 Million from 91 matches means he earns about $33,000-$43,000 per T20 league game. That’s more than most people’s annual household income.
Even we round up that T20I match fees to $2000, one T20I game only earns Pooran about 6% of what one franchise T20 game can earn him.
No Tests, no ODIs, 6% of T20 income, what motivation does Pooran have to sign the national contract?
Pooran League by League Salary Estimates
Salary
Number of Matches
IPL
$2.1 Million
IPL (Match Fees)
$126,000
14
BBL
$196,000-$275,000
10
ILT20
$150,000-$272,000
10
SA T20
$110,000-$250,000
10
Hundred
$103,000-$270,000
8
MLC
$92,000-$200,000
7
PSL
$66,000-$300,000
10
CPL
$46,000-$160,000
10
BPL
$20,000-$80,000
12
Total
$3.09-$4.03 Million
91
91 days in franchise cricket does not sound like much, but this does not include training, travel, and jet lag. 91 match days means he will rarely have time between leagues.
Notes:
Nicholas Pooran was a wildcard pick in 2024 SA T20, where the minimum price is 175,000 ZAR ($9890), but this salary is outside the salary cap.
The ILT20 is going to cut its salary cap by 20% in the upcoming season and go to an auction model. The maximum price earlier for ILT20 was $340,000. Reducing it by 20%, we get our estimate of $272,000. In addition, wildcard signings for this season can go up to $250,000
We show maximum estimates from franchises, but Pooran will most likely not play all leagues. For example, with the PSL clashing with the IPL now, he will most likely give up the $66,000-$300,000 income or only pay a couple of games and receive a pro-rated amount.
Central Contract: $68,000-$363,000 (If he had signed the national contract)
Match Fees: $145,000-$221,000
IPL Salary: $2.74 million
IPL Match Fees: $126,000
Active Franchise League Salary: $435,823-$463,518 (MLC, SA20, The Hundred)
Percent of Annual Income from Central Contract: 5.44-16.62%
The Big 3 vs the Rest: Exactly How Much More Money are India, England, and Australia Paying?
Pooran and Klaasen are top tier players for their teams. How does their income compare with the top tier players of the Big 3?
We look at Joe Root (England), Virat Kohli (India), and Mitchell Starc (Australia) since they are most likely receiving their country’s highest contracts.
Joe Root Salary ($1,629,520)
Central Contract: ~£800,000 ($1,079,520)
Match Fees: £207,500 ($280,000)
£162,500 (Tests), £45,000 (ODIs)
Hundred: ~£200,000 ($270,000)
Percent of Annual Income from Central Contract:83.43%
Maximum Days of Cricket: 86 Days (65 – Tests, 9 – ODIs, 12 – Hundred)
England’s national contracts can go as high as £800,000 ($1,079,520) and the top category for the Hundred at £200,000 ($270,000). In addition, match fees for England internationals is as follows: £12,500 (Test), £5,000 (ODI) and £3,500 (T20I).
In the last 12 months, Joe Root has played 9 ODIs and 13 Tests taking his match fee total to £207,500.
Since Joe Root is contracted by ECB, he does not receive extra County salary, but can play for County teams when availability allow (For context, a non-centrally contracted England player earns a minimum of $29,000 and an average of $125,000 from County cricket).
The match fees for Indian cricketers is: $17,500 – 15 Lakh Rs (Test), $7,000 – 6 Lakh Rs (ODI), and $3,500 – 3 Lakh (T20I). At his peak in 2022-2023 when he played all formats, Kohli earned about $435,000 in match fees between 2022-2023 when India played 9 Tests, 27 ODIs, and 20 T20Is)
*This excludes ~$50,000-$75,000 for IPL winning bonus and player of the match awards.
“Australia’s lowest central contract is US$225,000 although the vast majority, if not all, of Australia’s Test XI, would be earning more than US$600,000.”
The match fees tiers are as follows: $12,500 USD (Home Test), $17,725 (Away Test), $4,800 (ODI), $3,800 (T20I). In the last 12 months, Starc has played 7 Tests (5 home, 2 away), 6 ODIs, and 5 T20Is.
*Starc has not played in the Big Bash for about a decade. An Australia player who plays BBL and 3 formats can earn an additional $200,000-$300,000 to what Starc is earning.
International cricket is crumbling in front of our eyes.
QDK, Pooran, and Klaasen won’t be the last ones to walk away. If ICC and the national boards do not get their act together soon (which they probably won’t), the fabric of international cricket will be completely destroyed.
They have forced a question that we can no longer ignore:
Choice 1: The Professional’s Choice
Franchise leagues offer higher pay, more personal freedom, and more chances to be a ‘big fish in a small pond.’ With only 4-5 years of peak, cricketers need to earn to live off the next 40-50 years of their lives. From this lens, leaving the international arena is not abandonment. It is a necessary decision.
Choice 2: The Purist’s Stand
Playing for one’s country represents history and purpose. T20 leagues pay well, but they do not build a legacy. And how much is enough? Isn’t one IPL league good enough to complement international cricket? At some point, the player needs to meet the cricket board halfway.
Now that you know the salary estimates, put yourself in their shoes.
What would you choose? Would love to know your thoughts. Comment Below.
****
Here are all of our salary breakdowns for different franchise leagues:
So, I went digging through a decade’s worth of Cricket West Indies financial reports.
What I found was surprising: West Indies may have pulled off one of the biggest financial turnarounds in recent cricket history, and no one is talking about it.
Key Takeaways
Cricket West Indies flipped a $20.7 million deficit in 2021 into a $46.2 million surplusby 2024, making a $67 million turnaround in just three years.
Annual revenue in the last 3 years was: $78.6 million (2022), $62.2 million (2023), and $88.3 million (2024). Operating costs ranged from $47-$65 million, while the total comprehensive income came in at: +$20.7, $25.7, and $22.63 million respectively.
India’s tours in 2019, 2022 (along with England), and 2023 played a pivotal role in the recovery, driving media rights revenue of $33 million (2019), $34 million (2022), and $22 million (2023).
The 2024 T20 World Cup generated a regional economic impact of over a $1 billion, while ticketing revenue jumped from $3.5 million in 2023 to $18.5 million in 2024.
Then came 2018, and the books unraveled, when CWI suffered a loss of -$18,563,370, triggered largely by a fall in media rights.
Media rights income fell from $22.5 million in 2017 to just $986,052 in 2018, slashing their total revenue from $42.3 million to $20.9 million, while expenses remained high.
As CWI’s 2018 financial statement explained,
“During 2018, two unpopular tours took place which resulted in the Company incurring a significant lost of $22,198,011...”
That year, West Indies hosted Sri Lanka and Bangladesh, and toured Zimbabwe and New Zealand, series that likely failed to generate commercial traction. To manage cash flow, CWI secured a $5 million bond issue and $5 million mortgage loan from the Sagicor Bank Jamaica Limited to improve cash flow shortfalls.
In 2019, India toured the West Indies for 3 T20Is, 3 ODIs, and 2 Tests, which helped them get back up the feet. Media rights bounced back to $33 million, pushing the total revenue that year to $69 million and bringing the deficit back down to around $3 million.
From Crisis to Recovery: The Years After the Fall
Even though 2019 helped CWI get back to their feet, momentum stalled again during the the COVID-19 pandemic.
By 2021, the board was facing a $21 million deficit. However, three consecutive years of $20 million-plus total comprehensive income has completely flipped the equation, taking CWI from crisis to a mammoth surplus of $46 million.
*Note: During this period, CWI also began publishing consolidated financial statements, which incorporates other subsidiaries. Below is a summary of their surplus of consolidated financials (separate financial statements in parentheses)
2019:-$2,827,090 (-$3,017,035)
2020:-$10,747,720* (-$13,317,466)
2021:-$20,724,375** (-$23,438,047)
2022:-$9,711 (-$2,601,515)
2023:+$25,680,789, (+$12,047,709)
2024:+$46,218,992*** (+$34,904,963)
*Includes +$2.6 million non-controlling interest, **Adjusted in 2022 with a +$408,205 correction, ***Includes -$2.1 million change in non-controlling interest
Revenues, Operating Cost, and Total Comprehensive Income (2020-2024)
Year
Revenues
Operating Cost
Other Gains/Charges*
Total Comprehensive Income
2020
+$23,716,763
-$34,095,315
-$142,078
-$10,520,630
2021
+$27,879,487
-$38,081,453
-$182,893
-$10,384,860
2022
+$78,646,235
-$57,123,254
-$808,317
+$20,714,664
2023
+$62,252,743
-$47,016,811
+10,454,568
+$25,690,500
2024
+$88,354,688
-$65,424,187
-$292,198
+$22,638,203
*Others gains/charges include revalution of land and property, finance costs, net income attributable to non-controlling assets, etc..
Other Notes:
$7 million in bad debt due to T20 World Cup remains to be paid back but is expected to be recovered in the coming years.
In 2024, operating expenses included $28,576,049 in administrative costs and $36,848,238 in tour/tournament costs.
Of the $36.7 million, $4 million was for World Cup event cost, $6.3 million was fees paid to territorial boards, $13 million for player payments, $7 million for airfares and accommodation, and about $6 million in miscellaneous expenses (prize money, umpire cost, meal allowances, selectors’ cost, fitness and conditioning, balls and gears, etc.)
What Drove The Largest Financial Gain between 2022-2024?
Revenue jumped from $27 million to $78 million in 2022, which erased a large portion of their deficit. This was largely due to the India & England tours and numerous sponsorship deals.
“Subsequent to the financial year, the Group has entered two (2) new sponsorship agreements with CG United and IMG Arena, for USD $6 Mil and USD $1.4 Mil, over the next four (4) years 2023-2026…In addition to the annual distribution from ICC of USD $17 Mil, the Group will receive a surplus of USD $9 Mil in April 2024, further strengthening the Group’s cashflow position. Although 2021 was a loss-making year, because of the England and India tours in 2022, the Group has fully recovered these losses, ending the year with Net Income of USD $21 Mil.”
In 2022, media rights brought them about $34 million, ICC distribution and other host fees around $24 million, sponsorship about $8.1 million, and ticket sales around $7.7 million.
India visited WI next year again, which continued to boost their finances. In addition,
“Trade and other receivables increased by $19.8 million compared to 2022. This increase was mainly driven by accrued revenue from various sources such as FanCode, ICC Surplus Distribution for the cycle ending 2023, and ESPN USA.”
How Much did the Revenue Increase in 2024 due to the T20 World Cup?
2023
2024
ICC Distribution, Participation & Host Fees
+$28,964,754
+$46,683,506
Ticketing Revenue
+$3,542,864
+$18,598,560
Media Rights
+$22,192,941
+$14,994,612
Other Revenue*
+$7,552,184
+$8,078,010
Total
+$62,252,743
+$88,354,688
Note: Other Revenue consists of Sponsorship, Rights & Licenses/Merchandise, Release Fees, Development Income, ‘Other Revenue’, and Coolidge Cricket Ground (CCG), where CWI acquired an additional 32% stake (total 92% stake)
2024 World Cup Stats
$120 million invested in stadium upgrades to prepare for the 2024 T20 World Cup
$18.6 million generated in ticketing revenue, compared to $3 million from years before
2000 people involved in planning of the event
$600,000 recorded in merchandise sale
53 million concurrent viewers, 1.3 billion digital view views
16,400 children and 687 schools/academies involved in official Schools Programme
Here are some quotes from Dr. Kishore Shallow, President of Cricket West Indies and CEO of CWI, Chris Dehring on the success of the 2024 T20 World Cup.
“Beyond the boundary, we have taken significant steps to strengthen the foundation of West Indies cricket. The successful execution of the ICC Men’s T20 World Cup in the Caribbean was not just a sporting triumph but an economic milestone, generating over USD 1 billion in economic impact across the six host nations.“
“In addition, we secured a historic commercial partnership with Caribbean CAGE, a game-changing agreement worth over USD 100 million that will provide the financial stability needed to invest in our teams, infrastructure, and grassroots development.”
“After many years of our critical stakeholders calling for a measure of reform, we have also made critical strides in governance, implementing term limits and extending the presidential term to years—key steps in ensuring stability, accountability, and a long-term vision for West Indies cricket…we introduced a more data-driven selection and scouting system…“
“Among these was the unprecedented six-year media rights arrangement with ESPN Carribean,..From a financial perspective, 2024 also marked a landmark year for CWI. Our net income of $ 23 million, driven by the success of the ICC Men’s T20 World Cup, bolstered our financial position. This will help us navigate the next two years, which are expected to be leaner, and which will require continued prudent financial management.Importantly, we also paid off all institutional debt.“
Sources: Here is the CWI webpage with the last 10 years of annual reports. The year ending is September 30 for each year. So the 2024 Annual Report is between the periods of 09/30/2023 and 09/30/2024. The ‘Consolidated Financial Statements’ were used for this analysis.
Results remain below part on the field. They failed to qualify for the 2023 ODI World Cup and 2025 Champions Trophy, ranked 8/9 in both the WTC cycles, and are sitting at #9 in both women’s and men’s ODI rankings.
But off the field, the picture has changed dramatically. With a change in governance and a $67 million financial turnaround, this recovery is one of the quietest yet most significant in recent cricket history.
After weathering the 2018 collapse and the COVID years, CWI now has the financial stability to invest in its future, bolstered by a successful hosting of the 2024 T20 World Cup. With renewed focus on grassroots crickets, the foundations are finally in place.
The question now is whether the performances can catch up.
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