The Sialkot Stallionz franchise in the Pakistan Super League has been sold for a second time within weeks after disputes over ownership, share transfers, and questions about the financial background of the original buyers created an embarrassing situation for the Pakistan Cricket Board ahead of the PSL 11 season starting March 26.
OZ Group Ownership Collapses Over Financial Disputes
Sialkot Stallionz was purchased at auction last month by the OZ Group, a Pakistan-based business consortium, for 185 crore rupees.
However, problems emerged almost immediately when partners sold 98 percent of shares to an Australian company. Muhammad Shahid, a USA-based businessman and main owner, threatened legal action, forcing the Australian group to back out.
CD Ventures Steps In as New Owner
The franchise’s 98 percent shares have now been acquired by CD Ventures, a company that previously participated in the Multan Sultan franchise auction with a final bid of 235 crores. Walee Technologies ultimately bought Multan for 245 crores and renamed it Rawalpindi.
PCB Faces Criticism Over Vetting Process
The controversy has raised serious questions about the PCB’s due diligence and vetting process for franchise bidders.
Cricket fans and analysts expressed frustration on social media, describing the episode as damaging PR for a league celebrating its tenth anniversary.
Many questioned why the PCB failed to properly scrutinize bidders’ financial backgrounds before accepting their bids.
Walee Technologies Dominates PSL Commercial Space
Interestingly, Walee Technologies has also secured streaming rights for PSL 11, making the highest bid for media and broadcast rights.
The company now controls both the Rawalpindi franchise and digital streaming, positioning itself as a major stakeholder in Pakistan’s premier T20 competition.
With PSL 11 scheduled to begin on March 26, the PCB must restore confidence in its franchise management processes to avoid further controversies that could undermine the league’s credibility.
