PCB Sells Gaddafi Stadium Naming Rights For 1 Billion Rupees
A Punjab-based bank will pay Rs1 billion for 10-year rights (4 million per match) to the historic Gaddafi Stadium in Lahore after successful negotiations with Pakistan Cricket Board (PCB). This is a five-year deal, obviously better than the previous agreement of Rs450 million for National Stadium Karachi. Under this arrangement the bank will soon establish its name inside iconic Gaddafi Stadium, marking significant change in identity of venue.
The renaming correlates with the worldwide amalgamation of corporate branding into sports stadiums, a concept prevalent in nations such as Australia and England. It is a well thought out strategy to boost PCB revenues, signing sponsorship deals as many Boards around the world have been doing.
However, as Karachi (and Rawalpindi in particular) continue to build their cricketing revenue streams through naming-rights deals – the current contract at National Bank Stadium is expected to end only in 2027 this could be a future gateway for sponsorship agreements.
The PCB, meanwhile, is in the process of upgrading three key cricket venues National Bank Stadium in Karachi, Gaddafi Stadium at Lahore and Pindi Cricket Stadium at Rawalpindi with the ICC Champions Trophy 2000 event insight. After partnering with a third party in Lahore, the board now expects to close more such deals for other stadiums too.
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