The Pakistan Cricket Board (PCB) has successfully finalized a Rs1 billion deal for the naming rights of Gaddafi Stadium in Lahore, securing a five-year contract with Bank of Punjab. This landmark agreement highlights the PCB’s proactive approach to enhancing revenue streams, as it more than doubles the earnings from the previous naming rights sale for National Stadium Karachi, which fetched Rs 450 million for the same duration.
The PCB is currently focused on upgrading major cricket venues, including those in Karachi, Lahore, and Rawalpindi, ahead of the upcoming Champions Trophy. The significant investment in these improvements is being partially offset by the revenue from the sale of naming rights, with Gaddafi Stadium being a key asset in this strategy.
Sources have confirmed that Gaddafi Stadium will now be renamed after the Punjab bank, marking a new era for one of Pakistan’s most iconic cricket grounds. This deal is part of a broader initiative under the leadership of Mohsin Naqvi, who has successfully secured more than double the amount for Gaddafi Stadium compared to Karachi’s stadium.
This strategic move by the PCB reflects a growing trend in global sports, where venues like Gaddafi Stadium are named after sponsors. Countries such as Australia and England have long embraced this practice, and the PCB plans to expand this approach by selling naming rights for additional stadiums, including Gaddafi Stadium, in the future.
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This initiative is expected to significantly bolster the board’s revenue, with Gaddafi Stadium serving as a prime example of how this strategy can benefit Pakistan cricket in the long run. The success of Gaddafi Stadium in securing such a lucrative deal underscores the potential of this approach for other venues.
