Naming rights for Gaddafi Stadium sold for Rs.1 billion

The naming rights for Gaddafi Stadium Lahore have been sold for one billion rupees under a five-year contract with a Punjab-based bank.

This deal marks a significant increase from the 450 million rupees previously secured for the naming rights of National Stadium Karachi over the same duration.  The new administration has thus achieved a deal worth more than double the previous amount. 

As part of the preparations for the Champions Trophy, the Pakistan Cricket Board is investing billions in upgrading stadiums in Karachi, Lahore, and Rawalpindi, with efforts underway to offset some of these expenses through such strategic agreements.

Recently, the PCB issued a tender for the naming rights of Gaddafi Stadium Lahore, and sources confirmed that a five-year agreement has been reached with a Punjab-based bank for one billion rupees. Consequently, the name of Gaddafi Stadium will be changed to reflect the bank's name. 

For context, during former chairman Ramiz Raja's tenure in 2022, the naming rights of National Stadium Karachi were sold for 450 million rupees and the venue is now known as the National Bank Cricket Arena. The five-year contract for National Stadium Karachi will conclude in 2027.

Under the leadership of Mohsin Naqvi, the current PCB administration has secured a naming rights contract for Gaddafi Stadium Lahore valued at more than double the amount received for National Stadium Karachi. 

Chairman Naqvi has also developed several strategies to enhance revenue streams for domestic cricket, which are expected to bring substantial benefits to the PCB. Naming sports stadiums after sponsors is a common global practice, with many cricket venues in Australia and England following this model. 

This approach significantly boosts revenue sources, and the Pakistan Cricket Board plans to pursue similar sponsorship deals for additional stadiums in the future.