Islamabad, Aug 30: The renowned Gaddafi Stadium in Lahore has seen its name rights sold for one billion rupees as part of a five-year arrangement with a Punjab-based bank, securing a profitable transaction for the Pakistan Cricket Board (PCB).
This agreement, which is more than twice as much as the 450 million rupees obtained for the naming rights of Karachi’s National Stadium in 2022, marks a noteworthy accomplishment for the current PCB administration, headed by Mohsin Naqvi.
The Karachi venue was rebranded as National Bank Cricket Arena under a similar five-year contract, which runs until 2027 for the next three years.
This action is a component of the PCB’s larger plan to increase cash streams as it renovates venues in Karachi, Lahore, and Rawalpindi in preparation for the Champions Trophy.
PCB is spending billions on these upgrades, and through strategic alliances like the new naming rights deal, it hopes to defray some of these expenses.
Gaddafi Stadium, a location with a long history in Pakistani cricket, has rebranded, highlighting the increasing tendency of sporting grounds using corporate names to increase money.
As the PCB continues to look for new ways to increase its revenue, it is anticipated that additional cricket stadiums in Pakistan would adopt this approach, which is widespread in nations like Australia and England.
