CD Ventures, led by young cricket fan Gohar Shah, has reportedly acquired a 98% stake in Sialkot Stallionz from OZ Developers, capping off weeks of uncertainty and internal disputes around the Pakistan Super League (PSL) ownership.
The Stallionz were initially purchased by OZ Developers in January for a record Rs. 1.85 billion, but the ownership picture quickly turned messy as partners reportedly fell out and the group’s relationship with Australia’s Alpha Sports Group collapsed.
Alpha had earlier been announced as a major stakeholder, taking a 75% stake after the PSL team auction, before exiting following a public dispute that raised fresh questions about who was actually in control of the franchise.
Complicating matters further, a man named Mohammad Shahid, who claimed to be a co-owner alongside Hamza Majeed, alleged he held a 76% majority stake and accused Majeed of selling shares without consent or legal approval.
Majeed rejected those claims, saying the allegations were unrelated to the PSL franchise, and insisted that no formal agreements were finalized and no payments were made to either the Pakistan Cricket Board (PCB) or PSL authorities.
He also dismissed reports of any secret or unauthorized share transfers as “false and baseless,” adding that the Stallionz remained operational and focused on PSL preparations.
Now, reports suggest OZ Group has sold 98% of its Stallionz shares to CD Ventures, effectively shifting control ahead of the franchise’s debut season.
With new ownership reportedly in place, the franchise’s name and identity could be revised or retained in the coming days.
Fans have already begun floating ideas online, including reviving the Multan Sultans branding, though that remains speculative, especially with PCB approval still pending ahead of the team’s expected March 26 debut.
