PCB sells Gaddafi Stadium naming rights to Bank of Punjab in Rs1b deal

The Pakistan Cricket Board (PCB) has successfully sold the naming rights of Gaddafi Stadium in Lahore for Rs1 billion, securing a five-year contract with Bank of Punjab.

This deal marks a significant achievement for the PCB's new management, as it more than doubles the revenue generated from the previous naming rights agreement for National Stadium Karachi, which was sold for Rs450 million for the same duration.

According to details, the PCB is upgrading stadiums in Karachi, Lahore, and Rawalpindi ahead of the Champions Trophy, with billions of rupees allocated for these improvements.

To recoup some of the costs, the PCB recently issued a tender for the naming rights of Gaddafi Stadium.

Sources have confirmed an agreement with a Punjab bank for a Rs1 billion contract over five years.

The stadium will now be renamed after the bank.

Previously, in 2022, during former Chairman Ramiz Raja’s tenure, the naming rights for National Stadium Karachi were sold for Rs450 million, leading to its rebranding as National Bank Cricket Arena.

That five-year contract is set to conclude in 2027.

Under the leadership of Mohsin Naqvi, the current PCB administration has secured more than double the amount for Lahore’s stadium compared to Karachi.

The chairman has also initiated several other projects aimed at bringing more revenue into Pakistan cricket, which are expected to benefit the PCB significantly.

Globally, it is common practice for sports stadiums to be named after sponsors, a trend that has been particularly popular in countries like Australia and England, where several cricket venues carry sponsors' names.

This approach is considered a substantial revenue booster.

The PCB plans to sell the naming rights for additional stadiums to sponsors in the future.