The expansion of the Pakistan Super League has faced a critical hurdle even before the first ball of the new season: new PSL franchise Sialkot Stallionz has been effectively sold once again amid a battle royale within the group that won it at auction. The saga has unfolded just weeks after the squad was unveiled as part of the PSL’s move from six to eight sides. With PSL 2026 starting on March 26, the episode has thrown unwanted focus on the stability of the board at the moment the league is trying to sell momentum.
A share dispute leads to another ownership change before the first season
The Sialkot franchise was bought in the PSL expansion auction in January for PKR 1.85 billion. Shortly after the auction, a dispute broke out within the ownership consortium, with one of the main investors, Mohamed Shahid, filing a complaint with PSL CEO Salman Naseer. Shahid claimed to have a 76% stake in the franchise and alleged that the minority partners, who collectively owned 24%, had tried to sell the shares without his knowledge or consent.
The internal dispute then escalated into a broader struggle for control. Reports said a deal had been explored under which up to 98% of the franchise’s shares would be transferred to an Australia-based company, although there was disagreement over who had the authority to sell such a large portion. The move did not materialize, as the proposed buyer reportedly backed out after legal threats and resistance from a majority of stakeholders.
Now, the franchise is gearing up for another move. CD Ventures, which was active in The PSL franchise tender is set to acquire a 98% stake in the Sialkot team, effectively assuming operational control ahead of the franchise’s first season. The speed of change means that Sialkot will head towards the commercial and then the Championship under a new main owner, even though he is yet to play a game.
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This development comes at a time when franchise valuations are rising sharply across the league. Earlier this month, Walee Technologies bought the erstwhile Multan franchise for a record annual fee of PKR 2.45 billion after beating rivals including CD Ventures in a late bid. This price hike was meant to underscore PSL’s growth story. Instead, the ownership drama in Sialkot has once again drawn attention to due diligence, governance and stability.
to Pakistan Cricket Board The immediate task will be to quickly confirm the final ownership structure and approvals, and ensure that the expanded PSL is launched without further off-field noise. For Sialkot, the challenge is to quickly build a credible cricket operation while convincing fans and sponsors that the identity of the franchise will not continue to change in the boardroom.
