Sialkot Stallionz Shake-Up: A Franchise in Turmoil

The Sialkot Stallionz, a new PSL franchise, has changed ownership following disputes over shares and the financial integrity of its owners. After initial sale issues with an Australian company, CD Ventures now owns the majority stake. The incident raises concerns over the PCB's vetting process.

The Sialkot Stallionz, a recent entrant into the Pakistan Super League (PSL), has already experienced significant upheaval. Acquired for 185 crore rupees by a Pakistan-based business group, the franchise faced ownership disputes before playing a single match.

Problems began when certain partners sold 98% of their shares to an Australian organization. However, legal threats from a major shareholder, Muhammad Shahid, based in the USA, prompted the Australian company to withdraw. The franchise has since sold these shares to CD Ventures, which previously bid on the Multan Sultan franchise.

Critics have slammed the Pakistan Cricket Board (PCB) for apparent lapses in due diligence during the auction process, questioning the credibility of the league, which enters its 11th season on March 26. Additionally, Walee Technologies, who purchased the Multan Sultan, now Rawalpindi, has secured the streaming rights for the tournament.