In a comprehensive and high-profile press conference, Hamza Majeed, CEO of OZ Developers and owner of the Sialkot Stallionz franchise, addressed the recent wave of media rumors surrounding financial instability, alleged fraud claims, and partnership disputes.
Over the past few weeks, speculation had intensified across social media and certain mainstream platforms, raising questions about the franchise’s financial standing and ownership clarity. The press conference was called to provide a direct and transparent response, reaffirm commitments made to the Pakistan Cricket Board (PCB), and present documented facts regarding the franchise’s financial and operational structure.
Majeed emphasized that silence should not be interpreted as weakness, but rather as a measured response while legal consultations were underway.
Vision Behind Acquiring the PSL Franchise
Hamza Majeed shared that acquiring a team in the Pakistan Super League was not a sudden business decision, but a long-term dream rooted in his passion for cricket. According to him, preparations began nearly two and a half years ago when expansion discussions first emerged.
He explained that the bidding process was approached professionally, with structured planning around:
- Cricketing affairs
- Commercial affairs
- Business affairs
Rather than relying purely on emotional passion, Majeed stated that the goal was to create a financially viable and strategically sound franchise model. He acknowledged that as PSL’s valuation increased significantly over time, the financial threshold crossed initial projections. Therefore, exploring strategic partnerships became a natural business decision, not a sign of financial weakness.
He described this approach as common practice in large-scale global sporting ventures where consortium models often strengthen long-term sustainability.
Partnership Dispute & Alleged Fake Payment Receipt
Addressing the core controversy, Majeed explained that he held discussions with an investor who was introduced through Karachi-based connections. The meetings continued for approximately 18–19 days, during which both parties discussed financial structuring and potential equity participation.
According to Majeed, the investor made a verbal commitment to enter into a financial partnership. The investor also shared a payment receipt as proof of transfer. However, the funds never reached the designated account.
Majeed later stated that he suspected the receipt to be fabricated. When the promised payment failed to materialize within the agreed timeframe, he began questioning the legitimacy of the transaction. After the investor failed to provide satisfactory clarification or verifiable proof of transfer, Majeed decided to withdraw from the arrangement.
He firmly denied transferring any equity or diluting shares without PCB approval, emphasizing that PSL regulations strictly prohibit such actions without formal authorization from the governing body.
Financial Obligations & PCB Confirmation
One of the most serious allegations circulating was that OZ Developers or Hamza Majeed had defaulted financially or lacked liquidity to fulfill franchise obligations.
Majeed categorically rejected these claims and stated:
- Hamza Majeed formally submitted the first-year franchise fee bank guarantee to PCB on January 15.
- He issued a three-year corporate guarantee instead to secure future commitments.
- PCB conducted comprehensive due diligence before qualification.
- All financial obligations remain 100% secured.
He openly invited critics and journalists to verify his financial standing directly with PCB if doubts persisted.
According to his statement, if even a 1% financial discrepancy had existed, PCB would not have allowed the franchise to proceed.
Response to Bankruptcy Allegations
Haroon Hanif, partner at OZ Group, addressed claims suggesting that OZ Group was bankrupt or in financial default.
He clarified that:
- No official notice or declaration has been issued by PCB.
- No regulatory body such as SECP, FIA, or any financial institution has declared the company in default.
- Allegations of bankruptcy are baseless and reputationally damaging.
Hanif further revealed that legal notices have already been issued to individuals allegedly spreading defamatory content. Additional legal action is reportedly underway to protect corporate credibility.
He emphasized that such rumors not only harm the brand but also impact over 1,100 employees whose livelihoods are connected to the group’s operations.
Clarification on Sale of Shares Rumors
The press conference also addressed speculation regarding alleged 75%, 90%, or even 98% equity transfers to another entity.
Majeed dismissed these figures as inaccurate and speculative. He stated that any potential equity dilution would be structured, contractual, and subject to regulatory approval.
Further confirmed:
- Discussions with potential strategic partners are ongoing.
- Any finalized agreement will be subject to PCB approval.
- An official announcement will be made once confirmed.
He cautioned against circulating unverified percentage figures that create confusion without factual basis.
Coaching Staff & Team Confirmation
Despite the surrounding controversy, Majeed confirmed that the franchise’s sporting structure remains intact.
The coaching panel announced includes:
- Head Coach: Tim Paine
- Assistant Coach: Mike Smith
- Bowling Coach: Rana Naveed
- Batting Coach: Sohaib Maqsood
- Physio: Brandon Wilson
He clarified that the playing squad remains unchanged and dismissed rumors suggesting international player withdrawals. According to him, preparations are underway with full operational momentum as PSL approaches.
Closing Statement: “We Are Financially Secure”
In his concluding remarks, Hamza Majeed reaffirmed:
- All payments to PCB are fully secured.
- Strategic partnerships are being evaluated professionally.
- Legal proceedings against defamatory allegations are ongoing.
- The franchise remains committed to long-term participation in PSL.
He confidently stated that Sialkot Stallionz is positioned for sustained presence in the league for the next decade.
The press conference ultimately served as a structured rebuttal to circulating allegations, while positioning the franchise as financially stable, legally secure, and operationally prepared for the upcoming PSL season.
CDB Properties’ Position as Authorized Sales Partner of OZ Developers
As an authorized sales partner of OZ Developers, CDB Properties remains committed to transparency, verified information, and responsible communication within the real estate and investment sector.
We closely follow official statements issued by OZ Developers’ management and rely strictly on documented confirmations from regulatory authorities.
Based on the clarifications presented in the February 2026 press conference, and the reaffirmed financial commitments made to the Pakistan Cricket Board (PCB), we continue to maintain confidence in the project’s operational and financial standing.
CDB Properties encourages investors and stakeholders to rely on official announcements rather than speculative reports circulating on unofficial platforms.
CDB Properties is your trusted partner at every step of your real estate investment journey.
Talk to our real estate expert Waqas Naseer: +92 333 111 5100
Contact Mujahid Naseer: +92 333 111 5200
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