CD Ventures Acquires 98% Stake in Sialkot Stallions as OZ Group Hits Financial Crisis

ISLAMABAD: The OZ Group, which recently purchased the Sialkot Stallions franchise for the Pakistan Super League (PSL), has reportedly faced a financial collapse, ARY News reported.

Despite acquiring the franchise recently, the group was found to be effectively bankrupt, with empty bank accounts.

Sources indicate that the group has since sold 98% of its shares in the Sialkot Stallions to CD Ventures.

The owner of CD Ventures, Gohar Shah, has reportedly acquired the majority stake from the OZ Group.

According to details, the Pakistan Cricket Board (PCB) sold the eighth PSL team to the OZ Group last month for Rs 1.85 billion.

Earlier, the owner of the newly formed Sialkot franchise, Kamil Khan, has officially unveiled the team’s name ahead of the 11th edition of the Pakistan Super League (PSL), which is scheduled to run from 26 March to 3 May.

In an announcement made, Khan revealed the franchise’s identity through a 3D animated video shared on his social media platform X. The post confirmed the team will compete under the name Sialkot Stallionz, a title deeply rooted in Pakistan’s domestic cricket history.

“You guessed it. You waited. Now, I am proud to officially introduce SIALKOT STALLIONZ. Excited to be part of the Pakistan Super League journey,” Khan wrote.

The return of the Stallionz name is significant for cricket followers in Pakistan. The Sialkot Stallions were the most dominant side in the country’s domestic T20 circuit between 2005 and 2012, winning a record six National T20 Cup titles. During that period, the team also set a world record with a 25-match unbeaten streak, a feat that remains unmatched in Pakistan’s domestic T20 history.

The Stallions era produced several high-profile cricketers who went on to represent Pakistan at the highest level. Among them were Shoaib Malik, who led the side with distinction, hard-hitting opener Imran Nazir, reliable all-rounder Haris Sohail, and others.

Their performances helped establish Sialkot as a powerhouse of domestic cricket and created a strong fan following that the new PSL franchise will hope to reconnect with.

The Sialkot franchise was awarded ownership earlier this month following a high-profile PSL expansion auction held at the Jinnah Convention Centre. OZ Developers, owned by Hamza Majeed, secured the rights to the eighth PSL team with a successful bid of Rs 1.85 billion, surpassing a base price of Rs 1.70 billion after intense competition among eight qualified bidders.

The FKS Group had earlier won the first expansion franchise with a bid of Rs 1.75 billion.