Team Sialkot, the newest franchise in the expanded Pakistan Super League (PSL), is on the verge of a major ownership change just weeks before its debut season. A new investor has agreed to purchase over 90% of shares in the team after financial issues hit its original owners. This move will significantly reshape the administrative control of the franchise.
The PSL expanded from six to eight teams for the 2026 season, and Sialkot was awarded one of the new slots at a high-profile auction in January. The Pakistan Cricket Board (PCB) confirmed that OZ Group secured the franchise for Rs1.85 billion. The team will be known as Sialkot Stallionz and is set to compete alongside established sides such as Lahore Qalandars, Islamabad United and Karachi Kings.
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Despite the early excitement, OZ Group soon faced financial difficulties. After the successful bid, its local and Swiss partners withdrew due to concerns about the high purchase price and future obligations. This left the franchise struggling to meet payment deadlines and fulfill franchise requirements.
Initially, OZ Group had planned to transfer a 75% stake to another investor. A press event was held in Lahore and Karachi to announce the new partner, Muhammad Shahid, but no funds were ever received. When that arrangement collapsed, PCB began searching for another qualified and financially stable investor.
According to trusted sources close to the negotiations, a party that had not succeeded in the original bidding process has now agreed to buy more than 90% of the franchise shares. This deal would effectively remove OZ Group’s administrative control. Under PSL rules, however, a full 100% ownership transfer cannot occur until three years have passed since the initial sale. The incoming investor is expected to act as a strategic partner, bringing fresh capital and stability to the Sialkot franchise.
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The PCB also investigated the existing ownership group and found that one of the original owners had previously declared bankruptcy. This raised concerns about long-term financial sustainability and added urgency to secure a more credible backer. The new investor is reportedly financially stable, and officials expect an official announcement within the next week.
The ownership turmoil has also impacted leadership roles. Veteran fast bowler and former Pakistan captain Wasim Akram had been named president of Sialkot Stallionz as part of an earlier proposed 75% stake deal. However, he confirmed that no formal agreement was ever finalized, and he is no longer associated with the franchise.
As PSL 11 approaches, Sialkot’s ownership changes will be closely watched. Fans and analysts hope that new investment will ensure a stable future for the team and strong competition on the field. With cricket fever building across Pakistan ahead of the March 26 season kick-off, Sialkot’s journey into the league promises to be one of the most talked-about stories of the year.
