The Pakistan Super League (PSL) witnessed a major development as the Sialkot Stallionz franchise underwent a significant transformation following a majority acquisition by CD Ventures. This change was officially confirmed on Tuesday by PSL CEO Salman Naseer during a joint press conference held in Lahore. The event brought together key figures including Naseer himself, the original franchise owner Hamza Majeed, and CD Ventures’ chief executive Gohar Shah, who will now play a pivotal role in the team’s future.
Originally secured by OZ Developers for Rs1.85 billion during the PSL auction earlier this year in January, the franchise has now seen its valuation rise to Rs 2 billion annually, reflecting the increased confidence and investment in the team. This financial boost comes as CD Ventures acquired a controlling interest, marking a new chapter for the franchise. Naseer revealed that following the takeover, Gohar Shah requested a rebranding of the team’s identity, a proposal that was promptly accepted by the league authorities. Consequently, the Sialkot Stallionz will now compete under the well-known banner of Multan Sultans, a name that carries significant weight and history in the PSL.
Hamza Majeed described the takeover as a strategic partnership that has received full endorsement from both the Pakistan Cricket Board (PCB) and the PSL management. He emphasized that this collaboration aims to strengthen the franchise’s competitive edge and operational capabilities. “With the approval of PCB and PSL, this strategic partnership has been finalized,” Majeed stated. He further highlighted that Gohar Shah, who brings fresh energy and vision, will assume the role of CEO, guiding the franchise into its new era. Majeed expressed his optimism about the partnership, noting Shah’s enthusiasm and commitment as key drivers for the team’s future success.
In recent weeks, there had been widespread speculation regarding the fate of the Sialkot Stallionz, fueled by reports that OZ Developers were offloading shares following the withdrawal of one of their partners shortly after the PSL auction. Rumors of financial instability within the parent company also circulated, but Majeed publicly dismissed these claims last week. He clarified that while discussions with CD Ventures were ongoing, the franchise’s financial health remained stable. This press conference served to put those uncertainties to rest and provide clarity on the franchise’s direction moving forward.
Gohar Shah, now officially at the helm as CEO, shared his vision for the franchise and the broader cricketing landscape in Pakistan. He emphasized the importance of maintaining the Multan identity, which he personally championed. “A stallion alone cannot win the PSL. To move forward, a stallion needs a sultan, and we have come as Sultans,” Shah remarked, highlighting the symbolic significance of the name change. His commitment to South Punjab’s representation in the league was clear, and he outlined a cricketing philosophy he calls “Total Cricket,” which aims to align the team’s approach with the evolving needs of Pakistan cricket.
Shah also spoke about the squad, affirming his confidence in the current player selection while noting that final decisions regarding the playing XI and other tactical matters will be made once the team’s camp begins. This approach reflects a careful and considered strategy to ensure the franchise remains competitive throughout the upcoming season.
Despite the rebranding, Majeed reassured fans of the Sialkot Stallionz that their support and legacy would not be forgotten. He promised that elements of the Stallionz identity would still be visible in the franchise’s campaign, maintaining a connection with the loyal fanbase. Additionally, arrangements are being made to facilitate transportation for Sialkot supporters to attend Multan Sultans matches, ensuring their continued involvement and enthusiasm.
This rebranding and change in ownership come at a crucial time as the PSL prepares for its 11th season, set to kick off on March 26. Matches will be held across five venues in Pakistan, promising an exciting and competitive tournament. The return of Multan Sultans under new leadership adds another layer of anticipation and intrigue for cricket fans nationwide, as the franchise looks to build on its legacy and make a strong impact in the league.
