The Pakistan Cricket Board (PCB) is nearing completion of a historic agreement to transfer the name rights to the renowned Gaddafi Stadium in Lahore to the Bank of Punjab.
As per the reports in the local media, the stadium’s branding would be changed to align with the bank’s identity for the following five years as a result of the arrangement.
This action is in line with worldwide trends where sports venues collaborate with large organizations for mutually beneficial outcomes. It is also a part of PCB’s continuous attempts to increase revenue through strategic commercial alliances.
The National Stadium in Karachi was renamed National Bank Cricket Arena in 2022 and then National Bank Stadium after a five-year agreement with the National Bank of Pakistan. The renaming of Gaddafi Stadium is the result of a similar endeavor.
It is projected that PCB would receive a sizable financial boost from the sale of the naming rights, which will contribute to the national growth of cricket.
The agreement is a continuation of PCB’s larger plan to take advantage of business prospects in the sports industry.
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