Alfa Group Offers to Acquire 100% Shares of Sialkot Stallionz
Karachi : Alfa Group has formally offered to acquire 100 percent ownership of Pakistan Super League (PSL) franchise Sialkot Stallionz, with majority shareholder Muhammad Shahid urging the Pakistan Cricket Board (PCB) to transfer the remaining shares to his group.
Speaking on a private television sports show, Muhammad Shahid stated that Alfa Group already holds 76 percent of the franchise’s shares and is prepared to purchase the remaining 24 percent to secure full ownership.
He assured that all outstanding payments would be transferred to the PCB’s account within 24 hours of the completion of the transaction.
Shahid dismissed circulating reports claiming that 98 percent of the franchise’s shares were being sold, terming them inaccurate.
He clarified that he legally owns 76 percent of the shares, while the remaining 24 percent are held by Hamza Majeed and his partner Haroon, who are authorized to sell only their respective stake. Alfa Group, he said, is ready to acquire that 24 percent share as well.
Muhammad Shahid further called on the PCB to disqualify Hamza Majeed from involvement in PSL franchise affairs, alleging that his actions have brought disrepute to the league and the country.
He claimed that Majeed had failed to make timely payments and urged the board to transfer ownership rights to Alfa Group without delay.
Shahid also emphasized that he intends to bring investment from Australia into Pakistan to contribute to the country’s economic development. However, he alleged that conspiracies were being hatched against him,
warning that such circumstances could discourage foreign investors from investing in Pakistan. He appealed to the government to take notice of what he described as unjust treatment of an overseas Pakistani investor and to ensure immediate redressal to restore investor confidence.
