Pakistan Cricket Board on the verge of Bankruptcy? Forced to sell historic asset right before ICC Champions Trophy 2025

The historic Gaddafi Stadium in Lahore is set to be renamed after the Pakistan Cricket Board (PCB) has completed a deal to change the name of the stadium.

It is believed that the deal is worth PKR 1 Billion with a private bank to sell the naming rights of the stadium for five years.

The Gaddafi Stadium was renamed in honor of the former Libyan president Muammar Gaddafi in 1974 by the then Pakistan president, Zulfikar Ali Bhutto.

However, after Gaddafi died in 2011, the PCB has been in discussions to change the name of the stadium.

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Pakistan Cricket Board sells Gaddafi Stadium

The PCB hasn't officially announced the signing of the naming rights of the stadium but it is believed that the deal has been completed and the stadium will be named after the bank just like the National Stadium in Karachi.

A source inside a PCB confirmed that the deal for the Lahore Stadium is worth 1 billion dollars while the Karachi Stadium's deal was worth 450 million dollars.

“The deal is for one billion rupees while the board had sold naming rights for the Karachi stadium for 450 million dollars,” one insider in the PCB was quoted as saying by Hindustan Times.

The former PCB chairman Ramiz Raja is believed to have started the process of selling the naming rights of the cricket stadiums across the country in 2021.

During Ramiz's tenure, the deal to change the name of Karachi's stadium was completed and the stadium is now known as National Bank Cricket Arena.

Lahore, Karachi, and Rawalpindi will be the three cities that will host the ICC Champions Trophy 2025.

Lahore will host the most no. of matches, including the marquee clash between Pakistan and India on March 1. The stadium will also host the final, which will be held on March 9.

The PCB is currently busy renovating the three stadiums in Lahore, Karachi, and Rawalpindi for the ICC Champions Trophy 2025.

The Board chairman Mohsin Naqvi has already claimed that the renovation will be completed before time and the stadiums will have world-class facilities.

Mohsin Naqvi wants PCB's renovation costs to be managed

Due to the renovation of the stadiums, the PCB has had to bear some high costs. As a result, chairman Mohsin Naqvi wants the costs to be managed through such lucrative deals.

“(Mohsin) Naqvi also wants to increase revenue streams to support domestic cricket which will benefit Pakistan cricket,” the source added.

But their main problem is not the renovation and the completion of the stadiums. Their main concern will be India's travel to Pakistan for the tournament.

India has not traveled to their country since 2008 and has cited security concerns as the main reason for not going to the country.

It remains to be seen whether India travels to Pakistan or not and the ICC will also be under immense pressure to ensure the success of the tournament.