Sialkot Stallionz owner and OZ Group Chairperson Hamza Majeed has addressed claims of selling off 98% shares of the franchise to CD Ventures.

 

“I’m honestly surprised and stressed too. Three days ago, it was 75, then 76, then 90, then 98 and yesterday a friend told me it even hit 99. See, the share dilution in equity will be based on equality, alright? And that non-disclosure agreement is signed by both parties, so I can’t disclose it publicly,” he said during a press conference at Gaddafi Stadium on Tuesday.

 

“As for the name you’re mentioning, it’s… God willing, subject to approval. The PCB is considering it, and within the next two to three days, we’ll have a press conference about it and make all the announcements then. So... let's wait for the right time,” he added when asked about selling 98% of franchise shares to CD Ventures.

 

Earlier reports had suggested that OZ Group, the original buyer of the newly-launched Pakistan Super League (PSL) franchise, had run into financial trouble and sold the team before the tournament even started.

 

The franchise was auctioned on January 8, with OZ Group purchasing the franchise for PKR 1.85 billion and later renaming it Sialkot Stallionz.

 

ARY News, citing sources, reported Monday that OZ Group had sold 98 percent of its shares in Sialkot Stallionz to CD Ventures, led by businessman Gohar Shah.

 

HBL PSL 11 is scheduled to begin on March 26 and conclude on May 3, 2026. The upcoming season will feature eight teams in the league for the first time. 

 

The tournament also held its first-ever player auction on February 11, replacing the previous draft model.