Published: Aug 30, 2024, 07:21 PM (IST)
Edited: Aug 30, 2024, 07:21 PM (IST)
The Gaddafi Stadium naming rights here will be sold by the Pakistan Cricket Board to a private bank for PKR 1 billion over a five-year term.
Although the PCB has not yet made an official announcement about the deal, insiders have stated that it has been finalized and that the Gaddafi Stadium would now bear the bank’s name, just like the National Stadium in Karachi.
“The deal is for one billion rupees while the board had sold naming rights for the Karachi stadium for 450 million dollars,” one insider said.
In 1974, the stadium located here in Lahore was named after Muammar Gaddafi, the leader of Libya.
The Karachi stadium agreement was finalized during the reign of PCB’s former chairman and captain, Ramiz Raja, who began the process of selling the naming rights of cricket venues around the nation in 2021.
The National Bank Cricket Arena is the new name for the National Stadium.
Through these agreements, the PCB—which is now led by Interior Minister Mohsin Naqvi—hopes to partially finance the nation’s three primary stadium renovation projects in time for the ICC Champions Trophy in 2025.
“Naqvi also wants to increase revenue streams to support domestic cricket which will benefit Pakistan cricket,” the source added.
