Wasim Akram withdraws from Sialkot Stallionz presidency amid ownership dispute

Legendary former Pakistan captain Wasim Akram has stepped away from his recently announced role as President of Sialkot Stallionz, citing unresolved ownership disputes within the franchise.

Just a week after the Pakistan Super League side publicized Akram’s appointment, all related announcements and promotional posts were quietly removed from the team’s official social media platforms, sparking speculation about internal turmoil.

A spokesperson representing Akram confirmed that no formal written agreement had been signed between the former fast-bowling great and the franchise. Although preliminary discussions had taken place, Akram chose not to move forward with the role due to the ongoing conflict among the team’s stakeholders.

The dispute appears to center on differences between majority shareholder Muhammad Shahid and his business partner Hamza Majeed. Shahid, a businessman based in Australia, claimed that Majeed failed to properly manage dealings with stakeholders, which he says ultimately led to Akram’s decision to withdraw.

Shahid further asserted that a valid ownership agreement exists between Alfa Group and OZ Group concerning the franchise and insisted that its legitimacy cannot be challenged. He also alleged that a bank guarantee submitted by Majeed to the Pakistan Cricket Board has expired, with payments still outstanding.

Accusing his partner of tarnishing the franchise’s reputation and bringing disrepute to the league, Shahid called on the Pakistan Super League administration to intervene. He urged officials to take immediate notice of the matter and transfer the franchise’s operational control and ownership to Alfa Group.

The controversy casts uncertainty over the future of Sialkot Stallionz ahead of the upcoming PSL season, with fans awaiting clarity from both the franchise and league authorities regarding the team’s ownership and leadership structure.