Sialkot Stallionz Owner Announces PSL Exit After Ownership Controversy

Kamil Khan has announced he is stepping away from Sialkot Stallionz just a month before the 2026 Pakistan Super League (PSL 11) season.

In a social media statement, Kamil Khan said he joined the Sialkot Stallionz leadership “out of deep love for Pakistan cricket” and was overseeing the cricketing side of the project.

He pointed to what he described as early momentum during his stint, including securing Australian star Steve Smith, bringing in former Australia captain Tim Paine, and finalizing a commercial partnership with New Balance.

Kamil Khan said his exit was prompted by internal decisions at the management level. “Following certain management decisions and after careful consideration, I decided to step away,” he wrote, adding that the move had been decided earlier but was held back to ensure the franchise was left “in safe hands.”

His departure comes as PSL sources indicate a new party has agreed in principle to acquire more than 90 percent of the Sialkot Stallionz’ shares, effectively removing administrative control from the Australia-based OZ Group, which has reportedly struggled to meet its financial commitments.

The ownership turbulence traces back to the latest PSL auction, where the PCB awarded the league’s seventh team to FKS Group for Rs 1.75 billion and the eighth team to OZ Group for Rs 1.85 billion. While FKS Group cleared payments on time, OZ Group ran into trouble after two partners pulled out during bidding, reportedly concerned about the rising price.

Although OZ Group avoided immediate termination by submitting a bank guarantee after the deadline, problems around paying the franchise fee persisted. Efforts to offload a 75 percent stake to another investor did not result in the expected funds, despite public announcements and press events in Lahore and Karachi.

PSL rules do not allow a full ownership transfer in the first three years, meaning any incoming party would be positioned as a strategic partner rather than a complete replacement.

Sources also claim PCB checks flagged concerns around one existing owner’s financial history, while the potential new partner is believed to have stronger financial backing. An official update is expected next week.

In a separate development, Wasim Akram has confirmed he is no longer involved as the Stallionz’ president, saying discussions never moved beyond phone calls and no formal agreement was signed.

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