Multan Sultans Rebrand Announced as CD Ventures Acquires Majority Stake in PSL Franchise
In a significant development for Pakistan cricket, the franchise formerly known as Sialkot Stallions has officially rebranded itself to Multan Sultans. This change follows CD Ventures acquiring a controlling majority stake in the team ahead of the upcoming 11th edition of the Pakistan Super League (PSL). The announcement was made during a joint press conference held in Lahore, attended by key figures including PSL Chief Executive Salman Naseer, franchise owner Hamza Majeed, and CD Ventures Chairman Gohar Shah.
Strategic Partnership and Valuation Increase
The rebranding marks the formal return of the Multan identity to the league, signaling a new strategic direction under the leadership of CD Ventures. Salman Naseer confirmed that the franchise's annual valuation has now increased to Rs2 billion, reflecting the new investment and restructuring efforts. "After assuming the role of CEO, Gohar Shah requested a change of the franchise's name, and that request has been approved," Naseer stated. "The team will now compete in PSL 11 as Multan Sultans."
Hamza Majeed described the transition as a strategic partnership that has been endorsed by both the Pakistan Cricket Board (PCB) and the PSL governing council. "With PCB and PSL approval, this partnership has been finalised. Gohar Shah joins us not only as a strategic partner but also as the franchise's CEO moving forward," he said. Majeed praised Shah's vision and commitment, noting, "His passion and drive are remarkable. His energy will strengthen the franchise as we prepare for the new season."
Addressing Speculation and Future Vision
The franchise had been the subject of recent speculation amid reports that OZ Developers, who originally purchased the team for Rs1.85 billion during the PSL auction in January, had offloaded a significant portion of their shares due to internal adjustments. While dismissing rumors of financial instability, Majeed had earlier confirmed that discussions with CD Ventures were underway.
Addressing the media, Gohar Shah highlighted the importance of restoring 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, drawing applause from attendees. He emphasised that retaining the Multan identity was central to his vision for the franchise.
Introduction of "Total Cricket" Philosophy
Shah also introduced his broader cricketing philosophy, termed "Total Cricket," which aims to align franchise ambitions with the long-term needs of Pakistan cricket. "The squad selection reflects that vision. Final decisions regarding combinations and the playing XI will be taken once pre-season camp begins," he explained. This approach underscores a commitment to holistic development and competitive excellence within the team.
Assurances to Sialkot Supporters and Upcoming Season
Despite the name change, Majeed assured supporters in Sialkot that their loyalty would not be overlooked. "We remain grateful to Sialkot Stallionz fans. Elements of the Stallionz identity will continue to feature in our campaign," he said, confirming that transport arrangements would be facilitated for Sialkot-based supporters during the season.
PSL season 11 is scheduled to commence on March 26 across five venues in the country, with the opening ceremony set to take place in Lahore. The rebranding and ownership transition add a fresh dynamic to the upcoming season, positioning Multan Sultans as one of the most closely watched franchises in the competition, promising exciting developments for fans and stakeholders alike.
