Ownership disputes emerge among PSL franchise

The Pakistan Cricket Board (PCB) is grappling with ownership disputes in at least two of the eight franchises in the Pakistan Super League (PSL), it has been learnt. According to a reliable source aware of developments, a dispute has broken out in the newly-auctioned Sialkot franchise over the majority ownership.

“One of the owners, Muhammad Shahid has filed a complaint with PSL CEO Salman Naseer that he holds 76 per cent shares of the franchise but his other partners who have 24 per cent shares are trying to sell shares of the franchise without his knowledge,” the source said.

He said that Shahid, a businessmen who resides abroad, had also posted a video on social media in which he said the other minor share holders were trying to making deals without his knowledge and consent and trying to dump more shares than they own.

The Sialkot franchise was bought for 185 crores by a consortium which includes Kamil Khan a close relative of one of Pakistan’s former captain, who has no link to the entire matter.

In another complaint, one of the original owners of the Lahore Qalandars franchise, Fawad Rana, after getting a court verdict in his favour, has also filed a complaint with Naseer over majority ownership issues.

Apparently according to court documents he had filed a petition against his brothers, Atif Rana and Sameer Rana in a court, claiming they sold shares belonging to his company without his knowledge and the court ruled in his favour.