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Bank of Punjab has acquired naming rights to Lahore’s Gaddafi Stadium as part of a five-year agreement with the Pakistan Cricket Board (PCB).
According to the Express Tribune newspaper, the deal will be worth Rs1bn (£2.7m/€3.2m/$3.6m). Gaddafi Stadium has a capacity of 27,000 and its official name will now incorporate Bank of Punjab.
The Rs1bn figure would be more than double the value of the naming-rights contract for Karachi’s National Stadium, which is sponsored by the National Bank of Pakistan. That deal, which renamed the venue as National Bank Stadium, was struck in 2022 and is worth a reported Rs450m.
The Bank of Punjab deal has been struck after the PCB recently appointed BDP Pattern to improve the infrastructure of Gaddafi Stadium, National Bank Stadium and Rawalpindi Cricket Stadium.
The three venues will host matches at the ICC Champions Trophy next year, which will mark the first ICC event staged in Pakistan since 1996.
“The sale of the naming rights for Gaddafi Stadium is part of a broader strategy by the PCB to enhance its revenue streams,” a PCB board official said, according to The News International.
“With extensive upgrades underway at key stadiums in Karachi, Lahore and Rawalpindi ahead of the ICC Champions Trophy, the PCB is looking to offset renovation costs through strategic partnerships.”
The Express Tribune has reported that the PCB plans on selling naming rights for more stadiums in the future.
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