Karachi, Feb 22 (PTI) Sialkot Stallionz, the newest franchise brought last month in the Pakistan Super League for 185 crore rupees by a business group based out of Pakistan, has been sold again after a dispute over sale of shares and questions over the financial background of some owners.
With the PSL 11 season yet to start, the Pakistan Cricket Board (PCB) has faced an embarrassing situation over the financial background and record of the owners OZ group which brought the Sialkot franchise in the auction last month.
Soon after the auction, problems arose over the financial standing of the new owners. A dispute emerged when some of the partners sold 98 percent shares to a Australian company.
But when one of the main owners, Muhammad Shahid — a businessman from USA — threatening legal action, the Australian group backed out of the deal.
Now the Sialkot franchise’s 98 percent shares have been bought by another company CD ventures, which had earlier taken part in the auction for the franchise rights of Multan Sultan and had made a final bid of 235 crores.
Walee Technologies brought the Multan franchise for 245 crores and renamed it Rawalpindi.
Many cricket fans and analysts vented their frustration on social media describing the whole episode as not good PR for the PSL which has now completed 10 years.
Many questioned why the PCB did not done due diligence while scrutinising the bidders for the auction.
The PSL 11 is due to begin from 26 March.
Interestingly, the Walee technologies group has also brought the streaming rights for the next edition and have made by far the highest bid for the media/broadcast rights. PTI Corr APS APS
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