New PSL franchise Sialkot Stallionz have been rebranded as Multan Sultans following an ownership transfer.
After a turbulent couple of months following their inception in the PSL, the Sialkot Stallionz’s takeover is finally complete, with CD Ventures acquiring a majority stake in the franchise. The new ownership has also decided to rebrand the franchise as Multan Sultans, which was confirmed by PSL CEO Salman Naseer on Tuesday (March 3).
The franchise’s new CEO, Gohar Shah, requested that the team’s name be changed, which was approved by the PCB and the PSL. The team’s valuation was also increased, with the new owners to pay a yearly franchise fee of PKR 2 billion (just above US$71 million), increased from the PKR 1.85 billion (just above US$65 million) that OZ Developers earlier bid to acquire the Sialkot team.
“Gohar Shah requested to change the franchise’s name after becoming CEO, and that request has been accepted,” Salman Naseer said during a joint press conference, also attended by Shah and OZ group chairman and franchise owner Hamza Majeed. “Sialkot Stallionz will now compete as Multan Sultans.”
“With PCB and PSL’s approval, this strategic partnership has been finalised,” Majeed said. “CD Ventures’ Gohar Shah is now our strategic partner and will serve as the franchise’s CEO going forward.”
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OZ developers had earlier acquired the Sialkot franchise for PKR 1.85 billion
OZ developers had earlier acquired the Sialkot franchise with a PKR 1.85 billion bid at the PSL’s first-ever team auction in January 2026. However, they soon ran into financial issues, and also tried to sell 75 per cent of the team’s share.
They were reportedly found to be bankrupt later, with the PCB then selling the majority shares to CD Ventures. As per PCB regulations, 100 per cent of a franchise’s share cannot be transferred before three years.
Notably, the original Multan Sultans franchise was put on sale by the PCB earlier this year, with Walee Technologies acquiring the team for PKR 2.45 billion (just above US$87 million). The new owners then opted to shift the franchise’s base from Multan to Rawalpindi.
Also Read: Why new PSL franchise Sialkot Stallionz has fresh ownership within two months
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