The Pakistan Super League (PSL) franchise formerly known as Sialkot Stallionz has been renamed Multan Sultans following a majority acquisition by CD Ventures, PSL Chief Executive Salman Naseer said on Tuesday.
He made the announcement at a joint news conference alongside franchise owner Hamza Majeed and CD Ventures chief Gohar Shah.
Naseer said CD Ventures has taken a majority stake in the team, which was initially bought by OZ Developers for Rs1.85 billion at the PSL auction held in January.
Naseer revealed that, following the latest developments, the franchise’s valuation has risen to Rs2 billion annually.
“Gohar Shah requested to change the franchise’s name after becoming CEO, and that request has been accepted,” Naseer said.
“Sialkot Stallionz will now compete as Multan Sultans.”
Majeed described the arrangement as a strategic partnership approved by both the Pakistan Cricket Board (PCB) and the PSL.
“With PCB and PSL approval, this strategic partnership has been finalised,” Majeed said. “CD Ventures’ Gohar Shah is now our strategic partner and will serve as the franchise’s CEO going forward.”
He praised Shah’s enthusiasm, adding: “Gohar Shah’s passion and drive are even greater than mine. Seeing his energy makes me happy, and I welcome him to our league.”
Speculation had surrounded the Sialkot franchise in recent weeks amid reports that OZ Developers had offloaded a significant portion of their shares after one of their partners withdrew shortly after the PSL auction.
There were also unverified claims of financial difficulties within the parent company, which Majeed publicly denied last week, confirming only that discussions with CD Ventures were ongoing.
Speaking at the press conference, Gohar Shah confirmed he has officially joined the franchise as CEO and expressed his desire to restore South Punjab’s representation in the league.
“A stallion alone cannot win the PSL. To move forward, a stallion needs a sultan, and we have come as Sultans,” he remarked.
He added that retaining the Multan identity was important to him.
“It was my wish that the name Multan Sultans remain, and for me it was essential,” he said.
Shah also outlined his broader cricketing vision, which he has termed “Total Cricket”.
“Cricket should be played in a way that serves Pakistan cricket’s needs. In my opinion, the squad selected is correct. Final decisions on the playing XI and other matters will be taken once the camp begins,” he added.
Despite the name change, Majeed assured Sialkot supporters that their backing would not be overlooked.
“We are grateful to Sialkot Stallionz fans for their encouragement,” he said. “There will still be an element of the Stallionz identity visible in our campaign.”
He also confirmed that transport arrangements would be made for Sialkot supporters to attend Multan Sultans matches during the season.
The rebranding marks a significant shift ahead of PSL season 11, which is scheduled to commence on 26 March across five venues in the country.
