The Pakistan Cricket Board (PCB) has decided to rename Lahore’s Gaddafi Stadium for “financial reasons,” nearly 50 years after it was named after former Libyan President Muammar Gaddafi.
According to PCB Chairman Ramiz Raja, the cricket board is in “advanced negotiations” with a number of sponsors. The highest bidder would be awarded the right to rename the stadium after themselves.
Attempts to change the name of the iconic stadium have been made in the past, but all have been for political reasons, he claims.
“However, this one is definitely financial,” Ramiz explained to the publication, adding that other stadiums in the country, including the National Stadium Karachi (NSK), could be renamed as well.
“We hired YouGov [a public opinion and data firm] to estimate the brand value of our stadiums and how much sponsorship deals would be worth,” Ramiz explained.
“This is true not only of the Gaddafi Stadium but we are also looking for the NSK” We’ve been working on this for a long time now, and the reply from sponsors has been positive. Once we finalize a deal [for Lahore], the name Gaddafi will be replaced with the name of a sponsor.”