The financial viability of Test cricket for all nations is under scrutiny, with calls for the International Cricket Council (ICC) to avoid policies that could lead to bankruptcy for smaller cricketing nations. Cricket Australia CEO Todd Greenberg has voiced concerns about the financial sustainability of Test cricket for all countries, suggesting a more targeted approach to protect the format.

Greenberg argues that "scarcity in Test cricket is our friend, not our foe". He believes not every cricketing nation needs to aspire to play Test cricket, and that forcing them to do so could lead to financial ruin. Instead, he suggests prioritizing marquee series like the Ashes and those involving cricket's "big three" – India, England, and Australia. These series generate significant revenue and maintain high levels of interest.

The rise of Twenty20 (T20) cricket and global franchise leagues has put pressure on Test cricket. With players and fans drawn to the shorter, more lucrative formats, Test cricket has struggled to maintain its prominence. Greenberg suggests the solution isn't to increase the number of Test matches but to make each series more meaningful. He says investment should be focused on Test cricket "where it means something and has jeopardy".

The ICC is exploring structural reforms, including a possible two-tier Test system, to create more competitive and financially viable matchups. While Greenberg hasn't explicitly endorsed a two-tier system, he acknowledges the need to explore ways to sustain the Test format. He feels it's Australia's responsibility to help, stating that Test cricket needs an "injection of capital and an injection of resources because it can't just be about Australia, India and England – it needs to be bigger than that".

Some propose a Test fund to encourage teams to participate, but it was scrapped amid an overhaul of the financial model in 2016-17. Others suggest India, England, and Australia should share their wealth with less wealthy boards to sustain Test cricket.

The contrasting success of Test cricket in different regions highlights the issue. While series like the Ashes and England-India Tests draw large crowds and generate significant revenue, other series involving smaller nations struggle to compete. This disparity raises questions about the competitiveness and financial viability of Test cricket for all nations.

Ultimately, the future of Test cricket may involve a more streamlined approach, focusing on quality over quantity and ensuring financial sustainability for all participating nations. The ICC faces the challenge of balancing the traditions of Test cricket with the realities of the modern game and the financial pressures faced by smaller cricketing nations.