Sialkot Stallionz have had a turbulent two months since their inception in January and now have new owners ahead of PSL 2026.
Sialkot Stallionz become one of the two new sides at PSL team auction
The PSL held a historic first-ever team auction on January 8, with the tournament expanding to eight teams from the previous six. The FKS Group (Kingsmen) bid PKR 1.75 billion (just below US$65 million) to acquire the seventh team, while Oz Developers took control of the eighth with a PKR 1.85 billion bid (just above US$65 million).
FKS chose Hyderabad as their base, and Oz Developers opted for Sialkot. The former signed Marnus Labuschagne as their direct signing, while Sialkot onboarded Steve Smith and appointed Tim Paine as their head coach. While the Hyderabad Houston Kingsmen have had a smooth inception into the PSL so far, the Sialkot Stallionz have run into several issues since the auction.
Oz group try to sell 75% share but fail to raise funds
As per Tribune, two of the Oz Developers’ investors pulled out during the bidding due to a steep increment in the price. This stopped them from paying their dues, and only a delayed bank guarantee prevented them from termination. The report adds that the Sialkot owners sold 75 per cent of the team’s shares to Alpha Sports Group to raise funds on February 9.
However, the relationship soon turned sour after Alpha Sports Group’s Mohammad Shahid accused the original owners of fraud. Oz group’s chairman, Hamza Majeed, then clarified that the deal didn’t go through as no payments were made and the allegations were false, on February 18.
“To clarify for everyone: the circulating video involving the so-called Muhammad Shahid has no connection to Sialkot Stallionz,” he posted on X. “While discussions were ongoing, no payments were made to PCB or PSL, and no agreement was ever signed. These allegations are false.”
Also Read: The top 10 most expensive players at the first-ever Pakistan Super League auction
CD Ventures buy 98% shares in Sialkot Stallionz ahead of PSL 2026
Just under a week on from Majeed’s statement, ARY News and Tribune reported that Oz Group were found to be effectively bankrupt following a PCB investigation and thus had to sell 98 per cent of the team’s shares on Sunday, February 22, to Gohar Shah-owned CD Ventures. As per PCB regulations, 100 per cent shares cannot be transferred before three years.
The update was seemingly confirmed by Sialkot Stallionz co-owner Kamil Khan, who announced that he was leaving the franchise through an X post on February 23:
“Out of my deep love for Pakistan cricket, I joined the leadership team of Sialkot Stallionz, assuming responsibility for the cricketing side with sincerity. In a short time, we made significant progress, including securing Steve Smith, appointing Tim Paine and partnering with New Balance.
“However, following certain management decisions and after careful consideration, I decided to step away. Although this decision was made some time ago, I wanted to ensure Sialkot Stallionz was in safe hands before formally departing. As a result, my journey with the Stallionz now comes to an end. I wish everyone involved all the very best.”
Interestingly, Tribune claim the Alpha Sports Group had also appointed Wasim Akram as the president of the franchise, but the former fast bowler no longer holds the position.
Image courtesy: Sialkot Stallionz/X
Also Read: New franchise at the top? Each team's PSL 2026 auction performance ranked
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