LAHORE: Hamza Majeed, owner of the PSL franchise Sialkot Stallionz, has strongly denied circulating bankruptcy rumours and assured fans that the team is financially secure ahead of its debut in the Pakistan Super League Season 11. Speaking at a press conference at Gaddafi Stadium Lahore, Majeed dismissed claims of financial instability and alleged share transfers as completely baseless.
The controversy surfaced after the resignation of senior management figure Kamil Khan and confirmation from Wasim Akram that he is no longer serving as franchise president. Addressing the situation, Majeed clarified that the first year’s franchise fee had already been paid to the Pakistan Cricket Board in January. He added that the payment was backed by a three year corporate guarantee, proving the franchise’s solid financial standing.
Majeed also spoke about a so called fake receipt allegedly issued by a potential partner, accusing the individual of breaching trust and spreading misinformation. He confirmed that legal action and defamation notices have been initiated against those responsible for spreading false claims.
On the ownership structure, Majeed rejected reports suggesting that 98 percent of the franchise had been sold. He admitted that discussions regarding equity dilution are ongoing but emphasized that any such development would require official approval from the PCB. A non disclosure agreement has already been signed with a prospective strategic partner, with a formal announcement expected soon.
On the cricketing front, the Stallionz unveiled a strong coaching panel. Former Australia captain Tim Paine will serve as head coach, assisted by Mike Smith, Rana Naved ul Hasan, Sohaib Maqsood, and Qaiser Abbas. Australian physio Brandon Wilson will manage player fitness, while star batter Steve Smith remains committed to the squad.
Majeed thanked the PCB for its support and expressed confidence in his long term involvement in the PSL.
