Kamil Khan exits Sialkot Stallionz

OZ Group secured the franchise for Rs1.85 billion

Kamil Khan has stepped away from Sialkot Stallionz, adding to the uncertainty surrounding the Pakistan Super League (PSL) side amid a major ownership transition.

In a statement posted on social media, Khan said he joined the Stallionz leadership “out of deep love for Pakistan cricket” and took responsibility for the franchise’s cricketing operations. During his short tenure, he highlighted what he described as significant early progress, including the signing of Australian star Steve Smith, the appointment of former Australia captain Tim Paine, and a commercial partnership with sportswear brand New Balance.

“Following certain management decisions and after careful consideration, I decided to step away,” Khan said, adding that the decision had been made earlier but was delayed to ensure the franchise was left “in safe hands”.

Out of my deep love for Pakistan cricket, I joined the leadership team of Sialkot Stallionz, assuming responsibility for the cricketing side with sincerity. In a short time, we made significant progress, including securing Steve Smith, appointing Tim Paine and partnering with New…

— kamil khan (@13kamilkhan) February 22, 2026

Khan’s departure comes as sources confirm that a new party has agreed in principle to acquire more than 90 percent of the Sialkot franchise’s shares, effectively ending administrative control by Australia-based OZ Group, which has struggled to meet its financial obligations.

The ownership issues trace back to last month’s PSL auction, when the Pakistan Cricket Board sold the league’s seventh team to KingsMen for Rs1.75 billion, while the eighth team was awarded to OZ Group for Rs1.85 billion. The American-owned KingsMen paid its dues on time, but the Australian consortium soon ran into difficulties after two partners withdrew during the bidding process, citing concerns over the escalating price.

Although OZ Group narrowly avoided termination by submitting a delayed bank guarantee, it continued to face problems paying the franchise fee. Attempts to sell a 75 percent stake to another investor failed to yield funds, despite press conferences being held in Lahore and Karachi.

Under PSL regulations, a complete transfer of ownership is not permitted within the first three years, meaning the incoming party will act as a strategic partner rather than a full owner. Sources said the PCB had also discovered during its own checks that one of the existing owners had previously declared bankruptcy, while the prospective new partner is believed to be financially stable. An official announcement is expected next week.

Meanwhile, former Pakistan captain Wasim Akram has confirmed he is no longer serving as Sialkot Stallionz president, saying no formal agreement was signed and discussions were limited to phone calls.

The developments underline the growing pains of the expanded PSL as Sialkot Stallionz seek stability ahead of the new season.