The Pakistan Cricket Board (PCB) is on the verge of finalizing a landmark deal to sell the naming rights of Lahore’s historic Gaddafi Stadium to the Bank of Punjab. This agreement, expected to last for five years, marks a significant move in the PCB’s commercial strategy.
The deal, worth PKR 1 billion, will involve the Bank of Punjab paying PKR 200 million each year, according to PCB spokesperson Umar Kalson. This deal is part of the PCB’s plan to raise money and support cricket development in Pakistan.
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As part of the agreement, Gaddafi Stadium will be rebranded to include the Bank of Punjab’s name. This trend of stadiums partnering with major companies for naming rights is common globally, benefiting both the venue and the corporation.
While the renaming of the historic Gaddafi Stadium may face resistance from some traditionalists, the PCB is optimistic that the financial boost will substantially benefit cricket in Pakistan, particularly through infrastructure upgrades and grassroots development.
