OZ Group, buyer of the eighth Pakistan Super League (PSL) franchise – later named Sialkot Stallionz – has run into financial trouble and sold 98 percent shares of the franchise a month before the team’s maiden season.

 

As per the details, the group, that placed the winning bid of PKR1.85 billion during the Jan 8 PSL franchise auction ahead of the eleventh season of the flagship T20 league, has sold 98 percent of its shares in Sialkot Stallionz to CD Ventures, owned by businessman Gohar Shah.

 

Instagram Post

Instagram Post

 

 

While OZ Group has not yet reacted to the reports, PSL 11 is scheduled to begin on March 26 and conclude on May 3.

 

The upcoming season will feature eight teams for the first time in the league’s history as Sialkot and Hyderabad play their maiden season.

 

Earlier, the Rawalpindi franchise, reportedly named Pindiz, replaced Multan Sultans as the sixth team, and the league’s first-ever player auction, replacing player draft, was also held on February 11.