LAHORE – The naming rights for Gaddafi Stadium in Lahore have been sold for Rs1 billion, with the Pakistan Cricket Board (PCB) reaching a five-year agreement with Bank of Punjab.
Previously, the naming rights for National Stadium Karachi were sold for Rs450 million for the same duration, making this new deal by the current administration nearly double in value.
According to details, ahead of the Champions Trophy, the PCB is upgrading the stadiums in Karachi, Lahore, and Rawalpindi, with expenses running into billions of rupees. To recoup some of these costs, PCB recently issued a tender for the naming rights of Gaddafi Stadium Lahore.
Sources have revealed that a five-year contract worth one billion rupees has been agreed upon with a Punjab-based bank, leading to the stadium being renamed. It’s worth noting that in 2022, under former Chairman Ramiz Raja, the naming rights for National Stadium Karachi were sold for 450 million rupees, and it is now known as National Bank Cricket Arena. That five-year agreement will conclude in 2027.
Under the current administration led by Mohsin Naqvi, the PCB has secured more than double the amount for Lahore compared to Karachi. The chairman has also devised several other projects aimed at generating revenue for Pakistan cricket, which are expected to benefit the PCB significantly.
Globally, it is common for sports stadiums to be named after sponsors, a practice seen in Australia and England, where several cricket venues carry the names of sponsors. This is considered an effective way to increase revenue, and the PCB plans to sell the naming rights for more stadiums to sponsor organizations in the future.
