Major Shake-Up in PSL as Sialkot Stallionz Become Multan Sultans
LAHORE: A major development unfolded in the Pakistan Super League as the franchise previously known as Sialkot Stallionz has been renamed Multan Sultans following a majority acquisition by CD Ventures.
The confirmation came from PSL Chief Executive Salman Naseer during a joint media interaction alongside franchise owner Hamza Majeed and CD Ventures head Gohar Shah.
CD Ventures has secured controlling shares in the team, which was initially bought by OZ Developers for Rs1.85 billion during the PSL auction held in January. After the latest transaction, Naseer disclosed that the team’s annual valuation has climbed to Rs2 billion.
According to Naseer, the decision to rename the franchise was made after Gohar Shah, who has now taken over as CEO, formally requested the change. The request was approved, and the team will henceforth participate in the league under the Multan Sultans banner.
Hamza Majeed described the agreement as a strategic collaboration that received formal clearance from both the Pakistan Cricket Board and the PSL governing body. He confirmed that Shah’s role as CEO is effective immediately and welcomed him as the franchise’s new strategic partner.
Majeed lauded Shah’s ambition and enthusiasm, stating that his energy and commitment to the project are admirable and promising for the team’s future.
The franchise had recently been the subject of speculation, with reports suggesting that OZ Developers had sold a considerable share of their stake after one of their partners stepped away soon after the auction. Rumours regarding financial strain within the parent company had also surfaced, though Majeed dismissed those claims earlier, clarifying that discussions with CD Ventures were simply part of ongoing business negotiations.
Speaking to the media, Gohar Shah expressed his excitement about leading the franchise and emphasised his intention to bring South Punjab’s identity back into the PSL spotlight. In a symbolic remark, he stated that success in the league requires more than a stallion — it requires a sultan — signalling the beginning of a new chapter for the side.
He stressed that preserving the Multan name was a personal priority and central to his vision for the team.
Shah also introduced his broader cricketing philosophy, which he calls “Total Cricket,” explaining that the team’s approach should align with the wider interests of Pakistan cricket. While endorsing the current squad selection, he noted that final decisions regarding the playing XI will be made once preparations officially begin.
Despite the transition, Majeed assured supporters from Sialkot that their loyalty remains valued.
