Just one month before the Pakistan Super League (PSL) 11 is set to begin, the newly inducted Sialkot Stallionz franchise has been hit by a major setback. Kamil Khan, a key figure in the team’s leadership, has dramatically announced his resignation.
Kamil Khan Announces Sudden Exit
He took to social media to break the news to fans. In his statement, he revealed he is stepping away from the Sialkot Stallionz . He explained his initial motivation for joining the project. He said he came on board “out of deep love for Pakistan cricket.” His role involved overseeing the cricketing side of the franchise .
Why Did Kamil Khan Leave?
The resignation was not a spontaneous decision. Kamil Khan cited internal issues as the primary reason for his exit. He pointed to “certain management decisions” that prompted him to reconsider his position. He stated that after careful consideration, he chose to step away. However, he ensured the transition was smooth. Khan mentioned the move was decided earlier but was delayed to leave the franchise “in safe hands” .
The Real Reason: Financial Troubles at OZ Group
Behind Kamil Khan’s departure lies a deeper financial crisis. PSL sources indicate that the Australia-based OZ Group, which owns the franchise, is struggling. Reports confirm a new party has agreed in principle to acquire more than 90 percent of the Stallionz shares. This massive stake sale effectively removes administrative control from OZ Group. The original owners have reportedly failed to meet their financial commitments .
Tracing the Ownership Turbulence
The problems for Sialkot Stallionz began at the PSL auction. The Pakistan Cricket Board (PCB) awarded the two new teams for PSL 11 earlier this year.
- FKS Group won the rights to the seventh team for Rs 1.75 billion. They cleared their payments on time.
- OZ Group won the eighth team (Sialkot Stallionz) for Rs 1.85 billion. They immediately ran into trouble.
During the bidding process, two partners from OZ Group reportedly pulled out. They were concerned about the rapidly escalating price .
The Bank Guarantee and Failed Investment
Despite the initial setback, OZ Group avoided immediate termination. They submitted a bank guarantee to the PCB, although it was after the deadline. However, the core problem persisted. The group struggled to pay the franchise fee in full. To raise funds, they attempted to sell a 75 percent stake to another investor. Public announcements and press events were held in Lahore and Karachi. However, these efforts failed. The expected funds did not materialize, leaving the franchise in financial limbo.
The cricketing world will be watching closely to see if the Sialkot Stallionz can survive this turmoil before they even play their first match.
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