On 9th January 2026, the Pakistan Cricket Board (PCB) announced that OZ Developers, a real estate group led by Hamza Majeed and Kamil Khan, secured the rights of Sialkot Stallionz with a successful bid of Rs 1.85 billion.
However, shortly after winning the bid. OZ developers faced a financial crisis and went into bankruptcy. In a Twitter post, Sialkot Stallionz’s previous co-owner, Kamil Khan, expressed:
Out of my deep love for Pakistan cricket, I joined the leadership team of Sialkot Stallionz, assuming responsibility for the cricketing side with sincerity. In a short time, we made significant progress, including securing Steve Smith, appointing Tim Paine and partnering with New…
— Kamil Khan (@13kamilkhan) February 22, 2026
However, on 22nd February 2026, it was announced that the owner of CD Ventures, Gohar Shah, had acquired 98% shares of the franchise before the start of the 11th season of PSL.
The 100% transfer of ownership wasn’t possible due to PCB’s policy, according to which a franchise cannot undergo a 100% transfer of ownership within the first three years of its existence or after a new auction.
Therefore, OZ Developers technically still holds a tiny 2% share, but Gohar Shah and CD Ventures now have full administrative and financial control of the league.
What’s Next?
This takeover could reopen the door for the Multan Sultans’ title to return to the PSL.
Before the Multan Sultans auction on 9th February, 2026, Gohar Shah, the owner of CD Ventures and current Sialkot Stallionz owner, stated in the Multan Sultans’ pre-auction interview that his intention was to keep the Multan Sultans name and logo exactly as they were, rather than rebranding, if he succeeds in his bid for that franchise.
Here is Gohar Shah’s full interview from the PSL players’ auction.
