Sialkot Stallionz Owners OZ Group Go Bankrupt; CD Ventures Takes 98% Stake

The Sialkot Stallionz franchise has been thrust into a major financial crisis and ownership scandal as of February 22, 2026, following reports that its initial primary owner, the OZ Group, has effectively gone bankrupt and lost administrative control of the team. 

The franchise, which was sold just weeks ago for a record Rs. 1.85 billion ($6.55 million), is now being taken over by CD Ventures, led by Gohar Shah, who has reportedly acquired a 98% stake to stabilize the team ahead of its debut in PSL 11.

Collapse of OZ Group and Internal Disputes

The downfall of OZ Group, headed by Hamza Majeed, began shortly after they secured the Sialkot franchise in January 2026. International partners from Switzerland and Australia reportedly withdrew almost immediately, citing the unexpectedly high bid amount as a reason for their exit. This left the group struggling to fulfill its financial obligations to the Pakistan Cricket Board (PCB).

The situation turned into a public scandal on February 18, 2026, when Mohammad Shahid, owner of Australia’s Alpha Sports Group, released a viral video alleging he held a 76% majority stake and accusing Majeed of committing fraud by attempting to sell shares without authorization. While Majeed denied these allegations, the internal turmoil led to a complete breakdown in the franchise's leadership.

Leadership Exits and New Ownership

The controversy has led to the high-profile departure of cricket legend Wasim Akram, who withdrew from his role as franchise president on February 21, 2026. Akram's representatives clarified that he decided not to proceed due to the lack of a formal agreement and the ongoing "internal disputes" among stakeholders.

To prevent the franchise from collapsing entirely, the PCB has facilitated a "middle ground" solution. CD Ventures has stepped in as a strategic partner, effectively ending OZ Group's administrative reign. Speculation is now rising that the new owners may look to bring back the Multan Sultans branding or make significant changes to the team’s identity before the season begins on March 26, 2026.