Ownership crisis hits Sialkot Stallionz: Majority stakeholder alleges illegal share trading
Ownership crisis hits Sialkot Stallionz: Majority stakeholder alleges illegal share trading
By Nawaz Gohar ; A major ownership dispute has surfaced regarding the new Pakistan Super League (PSL) franchise, the Sialkot Stallions, just as preparations for Season 11 begin.
Mohammed Shahid, a prominent businessman based in Australia, has formally claimed legal ownership of a 76% majority stake in the franchise. He has alleged that the minority shareholder, Hamza Majeed, who holds 24% of the shares, is attempting to sell additional stakes in the team without his authorization or legal consent.
In a video statement, Mohammed Shahid alleged that Majeed is attempting to offload shares at inflated prices to maximize personal profit, an act Shahid describes as entirely illegal and a breach of corporate trust.
Shahid confirmed that he has formally notified the Pakistan Cricket Board (PCB) and the PSL management regarding the dispute. He stated that his legal team is currently reviewing the situation and that he is prepared to initiate formal litigation if the matter is not resolved transparently.
“I have returned to Pakistan after 27 years with a sincere desire to invest in my country and contribute to its progress,” Shahid remarked. “However, it is disappointing that matters are not being conducted transparently. My lawyers are examining every detail, and we will announce our next course of action soon.”
The Sialkot Stallions were recently introduced as part of the PSL’s expansion strategy. This legal complication could potentially delay the franchise’s operational setup unless a settlement or legal resolution is reached between the two parties. Neither Hamza Majeed nor the PCB has issued a formal rebuttal at the time of this report.
