LAHORE: The Pakistan Cricket Board (PCB) has secured a significant deal, selling the naming rights of Lahore’s Gaddafi Stadium to the Bank of Punjab for a record Rs1 billion.
The Bank of Punjab will now replace the historic name of the stadium and align with a growing global trend where sports venues adopt the names of their sponsors, often seen during international matches.
Moreover, the agreement boasting a significant financial upside, will extend for five years.
This surpasses the previous deal for National Stadium Karachi, which was sold for Rs450 million. The PCB is upgrading stadiums ahead of the Champions Trophy, with substantial investments in Karachi, Lahore, and Rawalpindi. To offset costs, the PCB tendered the naming rights, resulting in the Bank of Punjab deal.
This follows the 2022 sale of Karachi’s stadium naming rights for Rs450 million. Under the new leadership of Mohsin Naqvi, the PCB has more than doubled the revenue from naming rights.
Following the recent development, the board plans to sell naming rights for additional stadiums, following a global trend of sponsor-named sports venues, to boost revenue for Pakistan cricket.
