PCB to rename Gaddafi Stadium in Rs1bn deal with bank

LAHORE: The Pakistan Cricket Board (PCB) has made a major financial breakthrough by securing a lucrative deal for the naming rights of Lahore’s iconic Gaddafi Stadium.

The deal is worth Rs1 billion under a five-year agreement with a Punjab-based bank, which a board official says is a significant milestone for the PCB.

This achievement surpasses the previous record set in 2022 when the PCB sold the naming rights of Karachi’s National Stadium for Rs450 million. The Karachi venue was rebranded as National Bank Cricket Arena under a similar five-year contract.

“The sale of the naming rights for Gaddafi Stadium is part of a broader strategy by the PCB to enhance its revenue streams. With extensive upgrades underway at key stadiums in Karachi, Lahore and Rawalpindi ahead of the ICC Champions Trophy, the PCB is looking to offset renovation costs through strategic partnerships,” said a board official.

“This deal highlights a growing trend in Pakistan, where sports venues are increasingly adopting corporate names to boost revenue, a practice commonly seen in countries like Australia and England.

Gaddafi Stadium, a venue with a rich history in Pakistan cricket, will now join the list of cricket stadiums globally that have embraced corporate rebranding.” The PCB likely to extend this approach to other cricket venues across the country.