Pakistan Super League’s expansion has hit an awkward snag even before the first ball of the new season: the new PSL franchise Sialkot Stallionz has effectively been sold again amid an ownership fight inside the group that won it at auction. The saga has unfolded just weeks after the team was unveiled as part of PSL’s move from six to eight sides. With PSL 2026 due to begin on March 26, the episode has thrown unwanted focus on boardroom stability at exactly the moment the league is trying to sell momentum.
Stake dispute triggers another ownership change before debut season
The Sialkot franchise was bought at the PSL expansion auction in January for PKR 1.85 billion. Soon after the auction, a dispute broke out within the ownership consortium, with one of the principal investors, Muhammad Shahid, lodging a complaint with PSL chief executive Salman Naseer. Shahid has claimed he holds a 76% stake in the franchise and alleged that minority partners, who collectively hold 24%, attempted to sell shares without his knowledge or consent.
The internal rift then escalated into a wider tussle for control. Reports said a deal was explored in which as much as 98% of the franchise shares were to be transferred to an Australia-based company, despite the dispute over who had the authority to sell such a large portion. That move did not go through, with the proposed buyer reportedly backing out after legal threats and pushback from the majority stakeholder.
Now, the franchise has been lined up for another transfer. CD Ventures, which has been active in PSL franchise bidding, is set to acquire 98% of the Sialkot team’s shares, effectively taking operational control ahead of the franchise’s first season. The speed of the change means Sialkot will head into commercial planning and then into the tournament under a new principal owner, even though it has not yet played a match.
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The development comes at a time when franchise valuations are rising sharply across the league. Earlier this month, Walee Technologies bought the former Multan franchise at a record annual fee of PKR 2.45 billion after edging out rivals including CD Ventures in late bidding. That surge in prices was meant to underline PSL’s growth story; the Sialkot ownership drama has instead dragged attention back to due diligence, governance and stability.
For the Pakistan Cricket Board, the immediate task will be to confirm the final ownership structure and approvals quickly, and ensure the expanded PSL launches without further off-field noise. For Sialkot, the challenge is to build a credible cricket operation at speed while convincing fans and sponsors that the franchise’s identity will not keep changing in the boardroom.
