The Pakistan Cricket Board (PCB) has secured a landmark deal by selling the naming rights of Lahore’s iconic Gaddafi Stadium for Rs. 1 billion. The five-year agreement was finalized with a Punjab-based bank, marking a significant achievement for the current PCB administration under Mohsin Naqvi.
This deal surpasses the previous Rs. 450 million agreement for the naming rights of Karachi’s National Stadium in 2022, more than doubling the revenue generated. The Karachi stadium was rebranded as National Bank Cricket Arena under a similar five-year contract, which runs until 2027.
The sale of Gaddafi Stadium’s naming rights is part of PCB’s broader strategy to enhance revenue streams while undertaking extensive renovations of stadiums in Karachi, Lahore, and Rawalpindi in preparation for the Champions Trophy. The PCB is investing billions in these upgrades and is seeking to offset costs through strategic partnerships, including this latest naming rights agreement.
Rebranding Gaddafi Stadium, a venue with a storied history in Pakistan cricket, reflects a growing trend of sports venues adopting corporate names to generate additional revenue. This practice, common in countries like Australia and England, is expected to extend to other cricket stadiums in Pakistan as the PCB continues to explore new financial opportunities.
