The ancient Gaddafi Stadium in Lahore will now be known by a new moniker thanks to an agreement the Pakistan Cricket Board (PCB) and a private bank reached for PKR 1 billion. The PCB is attempting to raise money for the refurbishment of the cricket stadiums via this agreement, which gives the bank five years of naming rights.
The PCB has not yet made an official announcement on the development. But it’s important to note that the change was made before the ICC Champions Trophy in 2025. For the uninitiated, Gaddafi Stadium was christened in 1974 in honour of the late Libyan leader Muammar Gaddafi.
The location has long served as a representation of Pakistan’s cricket history. But there has been a shift in sports administration, and upgrading and maintaining facilities now requires significant financial outlays. This led the PCB to investigate potential new sources of income.
Naqvi also desires more sources of income to help fund domestic cricket: source
The sale of naming rights for cricket stadiums was started in 2021 by former PCB chairman Ramiz Raja, who oversaw the completion of this transaction. The PCB received PKR 450 million when the National Stadium in Karachi was renamed the National Bank Cricket Arena during his tenure.
Recognising the significance of these cash infusions, the current PCB administration, headed by Interior Minister Mohsin Naqvi, has continued this approach. These agreements will yield significant income, which will be used to renovate not only Gaddafi Stadium but also two other major stadiums in Pakistan. In order to host the ICC Champions Trophy in 2025, it is imperative that these venues fulfil international requirements. A PCB source emphasised the dual advantages of this arrangement.
The naming rights for the Karachi stadium were sold by the board for 450 million dollars, while the agreement is for one billion rupees. One insider stated that Naqvi also wants to boost cash streams to help Pakistani cricket by supporting domestic cricket.
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Pakistan, who lost the first Test at Rawalpindi by ten wickets, is currently hosting Bangladesh for a two-match Test series. Remarkably, due to ongoing Champions Trophy stadium building, the second Test match was originally supposed to take place at Karachi’s National Stadium without any attendance.
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