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The Pakistan Cricket Board (PCB) has secured a major deal by selling the naming rights of Gaddafi Stadium Lahore to the Bank of Punjab for one billion rupees under a five-year contract.
This agreement marks a major achievement for the PCB’s new management, as it more than doubles the revenue earned from the previous naming rights deal for National Stadium Karachi, which was sold for Rs 450 million for the same duration.
In preparation for the Champions Trophy, the PCB is reportedly investing billions in renovating venues in Karachi, Lahore, and Rawalpindi.
To offset some of these expenses, the PCB recently issued a tender for the naming rights of Gaddafi Stadium.
As per the media reports, the deal has been finalized, and the stadium will soon bear the name of the bank involved in the agreement.