The Pakistan Super League’s newest franchise has been thrown into further upheaval just weeks before its first ball is bowled. Sialkot Stallionz are heading into PSL 11 under fresh ownership and without one of the key figures who helped shape their early cricket strategy.
Kamil Khan confirmed on X that he has stepped away from the franchise’s leadership, marking another significant shift in a saga that has already seen the team effectively change hands twice before playing a single match.
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…
— kamil khan (@13kamilkhan) February 22, 2026
Kamil Khan confirms exit from Stallionz leadership
In a statement posted on X, Khan reflected on his entry into the project, writing, “Out of my deep love for Pakistan cricket, I joined the leadership team of Sialkot Stallionz, assuming responsibility for the cricketing side with sincerity.”
He had been overseeing cricket operations during a period in which the franchise secured high-profile names including Australia star Steve Smith, brought in former Australia captain Tim Paine, and finalized a commercial partnership with New Balance as part of its early build-up to PSL 11.
However, Khan confirmed internal developments had prompted his departure. “However, following certain management decisions and after careful consideration, I decided to step away,” he wrote in his statement on X.
He added that the decision had not been abrupt. “Although this decision was made some time ago, I wanted to ensure Sialkot Stallionz was in safe hands before formally departing.”
Khan formally concluded his message by stating, “As a result, my journey with the Stallionz now comes to an end.”
His exit comes amid sweeping structural changes at ownership level, as the franchise attempts to stabilize ahead of the March 26, 2026 start of PSL 11.
OZ Group’s financial troubles and internal dispute
The Sialkot franchise was awarded at the PSL expansion auction in January for PKR 1.85 billion (approx. US$ 6.6 million), making it one of two new teams introduced as the league expanded from six to eight sides.
While FKS Group secured the seventh team for PKR 1.75 billion (approx. US$ 6.3 million) and completed payments on time, the eighth team’s ownership — initially led by the Australia-based OZ Group headed by Hamza Majeed — quickly ran into complications.
According to reports, two international partners from Switzerland and Australia withdrew shortly after the bidding process, citing concerns over the unexpectedly high final price. That exit placed immediate strain on OZ Group’s ability to meet its financial commitments to the Pakistan Cricket Board.
Tensions escalated further when Mohammad Shahid, associated with Australia’s Alpha Sports Group, publicly claimed he held a 76% stake in the franchise and alleged that minority partners attempted to sell shares without his authorization. The dispute triggered legal threats and derailed a proposed transaction that would have transferred as much as 98% of the team to another Australia-based company.
Although OZ Group reportedly avoided immediate termination by submitting a bank guarantee after the payment deadline, ongoing difficulties in fulfilling franchise fee obligations continued to cloud the team’s preparations.
PSL regulations prevent a full ownership transfer within the first three years, meaning any incoming party must operate as a strategic partner rather than a complete replacement owner.
CD Ventures takes 98% stake before PSL 11 debut
With financial uncertainty mounting and internal leadership effectively breaking down, CD Ventures has now stepped in and is set to acquire a 98% stake in the Sialkot franchise, taking operational control ahead of the new season.
The move effectively ends OZ Group’s administrative control and positions CD Ventures as the driving force behind the team’s immediate commercial and cricketing planning.
The speed of the change means Sialkot Stallionz will enter sponsorship discussions, marketing activities, and on-field preparations under a substantially restructured ownership framework — all before playing their first match in PSL history.
The episode has unfolded against a backdrop of rising franchise valuations across the league. Earlier this month, Walee Technologies secured the former Multan franchise at a record annual fee of PKR 2.45 billion after edging out competitors including CD Ventures in late-stage bidding, underlining the increasing commercial stakes attached to PSL ownership.
Leadership uncertainty adds to off-field noise
The instability has not been confined to ownership alone. Wasim Akram confirmed he is no longer involved as the franchise’s president, stating that discussions never progressed beyond phone calls and no formal agreement was finalized.
For the Pakistan Cricket Board, the immediate priority is to formalize the updated ownership structure and approvals to ensure the expanded PSL launches without further disruption.
For Sialkot Stallionz, the task is more urgent: build a credible cricket operation, maintain sponsor confidence, and establish a stable identity — all within weeks of their inaugural PSL campaign.
Kamil Khan’s departure, coming alongside the 98% stake shift to CD Ventures and the effective collapse of OZ Group’s administrative control, underscores the scale of change surrounding the franchise. As PSL 11 approaches, Sialkot will enter the tournament not only as a new team, but as one rebuilt in real time behind the scenes.
