Kamil Khan Steps Down from Sialkot Stallionz as PSL Ownership Crisis Deepens
PSL 11’s newest franchise is already in chaos — and the season hasn’t even started.
Kamil Khan has officially stepped away from Sialkot Stallionz, adding more drama to a franchise already drowning in ownership trouble just weeks before PSL 2026 kicks off.
What Happened? Quick Breakdown
| Event | Details |
|---|---|
| Kamil Khan’s Role | Cricketing operations head |
| Key Signings He Claimed | Steve Smith, Tim Paine, New Balance deal |
| Reason for Exit | Internal management decisions |
| OZ Group Issue | Missed payments, partners withdrew |
| Wasim Akram | Confirmed no formal deal, only phone calls |
| New Partner | 90%+ stake, announcement expected next week |
Kamil Khan’s Exit — In His Own Words
Khan posted on X (formerly Twitter) on February 22, 2026, saying he joined the Stallionz “out of deep love for Pakistan cricket.” He claimed early wins — signing Steve Smith, bringing in Tim Paine as coaching staff, and locking in a commercial deal with New Balance.
But things clearly went south behind the scenes.
“Following certain management decisions and after careful consideration, I decided to step away,” he wrote, adding the decision was made earlier but delayed to leave the franchise “in safe hands.”
The OZ Group Problem — How Did It Get This Bad?
This all traces back to the PSL 11 auction, where the PCB sold two new franchise slots. The seventh team (now known as KingsMen) went to FKS Group for Rs 1.75 billion, while OZ Group — an Australia-based consortium — picked up the eighth slot (Sialkot Stallionz) for Rs 1.85 billion.
FKS Group paid on time. OZ Group did not.
Two of OZ Group’s partners reportedly pulled out after the bidding price climbed higher than expected. Although the group avoided immediate termination by submitting a late bank guarantee, the financial problems didn’t stop there. A 75% stake sale to a new investor was announced publicly through press events in both Lahore and Karachi — but no funds came through.
PCB checks also flagged that one existing owner had previously declared bankruptcy, which naturally raised red flags.
What’s Next for Sialkot Stallionz?
A new party has reportedly agreed in principle to acquire more than 90% of Stallionz shares — effectively taking over from OZ Group. However, PSL rules don’t allow a full ownership transfer within the first three years, so the incoming party will officially be classified as a strategic partner.
The new partner is believed to be financially solid, and an official announcement is expected next week.
Check the latest PSL 2026 schedule to see when Sialkot Stallionz are set to play — their first match will be crucial given everything happening off the field.
You can also track how the PSL 2026 points table shapes up once the season begins.
Wasim Akram Also Out
In a separate but equally surprising development, Wasim Akram confirmed he is no longer the Stallionz president. He said discussions never went beyond phone calls and no formal agreement was ever signed. So the franchise’s most high-profile name was never officially on board to begin with.
PSL 11 Sialkot Stallionz: Key Facts
- Franchise price: Rs 1.85 billion (OZ Group)
- Star signing: Steve Smith (Australia)
- Coaching staff: Tim Paine (former Australia captain)
- Kit partner: New Balance
- Ownership status: Transition in progress
- Full transfer allowed after: 3 years per PSL rules
FAQs
Why did Kamil Khan leave Sialkot Stallionz? He cited internal management decisions as the reason, saying he stepped away after careful consideration to leave the team in safe hands.
Who owns Sialkot Stallionz in PSL 2026? OZ Group currently holds the franchise, but a new strategic partner is expected to take over 90%+ of shares. An official announcement is due next week.
Is Wasim Akram still president of Sialkot Stallionz? No. Wasim Akram confirmed he is not involved — discussions were limited to phone calls and no formal deal was signed.
What is OZ Group’s financial issue with PSL? Two of OZ Group’s partners withdrew after the bidding price rose sharply. They struggled to pay the franchise fee and a 75% stake sale attempt also failed to deliver funds.
Can OZ Group fully transfer ownership of Sialkot Stallionz? Not within three years. PSL rules prohibit full ownership transfers in the early years, so the incoming party will be a strategic partner, not a replacement owner.
Will Sialkot Stallionz still play in PSL 11? Yes. Despite the off-field chaos, the franchise is expected to participate in PSL 2026 with Steve Smith and Tim Paine already on board.
