The Pakistan Cricket Board (PCB) has secured a lucrative deal worth PKR 1 billion with a private bank for the naming rights of the iconic Gaddafi Stadium in Lahore. The five-year agreement will see the stadium, previously named after Libyan leader Muammar Gaddafi, bear the bank's name.
This move follows a similar deal for the National Stadium in Karachi, which is now known as the National Bank Cricket Arena. The PCB has yet to officially announce the Gaddafi Stadium deal, but insiders have confirmed its completion.
"The deal is for one billion rupees, while the board had sold naming rights for the Karachi stadium for 450 million dollars," said an insider.
The initiative to sell naming rights for cricket stadiums in Pakistan began in 2021 under former PCB chairman Ramiz Raja. The deal for the Karachi stadium was completed during his tenure.
Now headed by Interior Minister Mohsin Naqvi, the PCB aims to use the revenue from such deals to manage renovation costs for three main stadiums in the country ahead of the ICC Champions Trophy 2025. Additionally, Naqvi seeks to increase revenue streams to support domestic cricket, which is expected to benefit Pakistan cricket overall.
"Naqvi also wants to increase revenue streams to support domestic cricket, which will benefit Pakistan cricket," the source added.
The Gaddafi Stadium, built in 1959, is one of the most iconic cricket venues in Pakistan. It has hosted numerous international matches, including the 1996 Cricket World Cup final. The stadium has a capacity of over 27,000 spectators and is known for its lively atmosphere.
The naming rights deal is a significant development for the PCB as it seeks to generate additional revenue to support its operations and invest in the development of cricket in Pakistan.
Tags: #PCB, #GaddafiStadium, #NamingRights, #Cricket, #PakistanCricket
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