PCB closes deal to rename Lahore's Gaddafi Stadium

The Pakistan Cricket Board (PCB) has successfully secured a deal worth PKR 1 billion with a private bank to rename Lahore's historic Gaddafi Stadium. This agreement, which grants the bank naming rights for five years, is PCB's efforts to generate revenue for the renovation of the cricket stadiums.

The development, though yet to be officially announced by the PCB. However, it is vital to point out that the move has happened ahead of the ICC Champions Trophy 2025. For the unversed, Gaddafi Stadium was named after the former Libyan leader Muammar Gaddafi in 1974.

The venue has been a symbol of Pakistan's cricketing legacy for decades. However, the change in sports management and the need for substantial financial resources to maintain and upgrade facilities. As a result, this prompted the PCB to explore new revenue streams. 

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Naqvi also wants to increase revenue streams to support domestic cricket: Source

This deal was made under the tenure of former PCB chairman Ramiz Raja, who initiated the process of selling naming rights for cricket stadiums in 2021. During his time, the National Stadium in Karachi was renamed the National Bank Cricket Arena, which fetched the PCB PKR 450 million.

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The current PCB administration, led by Interior Minister Mohsin Naqvi, has continued this strategy, recognizing the importance of such financial injections. The revenue generated from these deals is crucial, not only for the renovation of Gaddafi Stadium but also for two other main stadiums in Pakistan. The goal is to ensure that these venues meet international standards in time for the ICC Champions Trophy 2025. A source within the PCB highlighted the dual benefits of this agreement.

“The deal is for one billion rupees while the board had sold naming rights for the Karachi stadium for 450 million dollars. Naqvi also wants to increase revenue streams to support domestic cricket which will benefit Pakistan cricket,” one insider said.

Meanwhile, Pakistan is currently hosting Bangladesh for a two-match Test and lost the first Test at Rawalpindi by 10 wickets. Interestingly, earlier the second Test match was scheduled to take place at Karachi's National Stadium without any spectators due to ongoing construction at the stadium for the Champions Trophy.