Gaddafi Stadium renamed in historic Rs. 1bn deal

LAHORE: In a move that underscores the growing commercial appeal of Pakistan’s cricket venues, the Pakistan Cricket Board (PCB) has struck a landmark deal, selling the naming rights for Lahore’s iconic Gaddafi Stadium for a staggering one billion rupees.

This five-year contract, secured with a Punjab-based bank, reflects the PCB’s strategic efforts to enhance revenue streams as they prepare for the upcoming Champions Trophy.

This deal dwarfs the previous naming rights agreement for Karachi’s National Stadium, which was sold for 450 million rupees during former chairman Ramiz Raja’s tenure. Now known as the National Bank Cricket Arena, the Karachi venue’s contract will run until 2027.

Under the leadership of Mohsin Naqvi, the current PCB administration has successfully negotiated a deal of renaming Gaddafi Stadium that more than doubles the previous record, signaling a new era of financial growth for Pakistani cricket. This is just one part of a broader strategy to invest billions in upgrading key stadiums in Lahore, Karachi, and Rawalpindi, with the goal of elevating these venues to international standards.

Naming rights deals, a common practice in sports globally, have become a vital source of revenue, and the PCB is keen to explore similar opportunities for other stadiums across the country.

By embracing these modern financial strategies, the PCB aims to secure the future of domestic cricket and ensure that Pakistan’s cricketing infrastructure continues to thrive.

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