The Hamza Majeed bankruptcy claims have been strongly denied by the owner of Sialkot Stallionz, who described reports about OZ Developers being insolvent as “totally baseless.”
Speaking in Lahore, Majeed rejected speculation that his company had faced financial collapse following the acquisition of a Pakistan Super League (PSL) franchise for Rs 1.85 billion.
Rumours began circulating after claims emerged that up to 98 per cent of shares had been offloaded following a partner’s withdrawal shortly after the PSL auction.
Addressing the Hamza Majeed bankruptcy claims, the franchise owner confirmed he had provided a three-year corporate guarantee to demonstrate financial stability.
He stated that he has the financial capacity to meet franchise obligations for the next three years. “For me, it was a baseless allegation that my reputation is being questioned,” Majeed said.
The controversy intensified when co-owner Mohammad Shahid claimed that his Alpha Sports Group holds a 76 per cent stake in the franchise. Shahid also alleged that share transfers were carried out without prior approval from the Pakistan Cricket Board (PCB).
Subsequent media reports suggested that CD Ventures might take over the Stallionz due to alleged financial difficulties at OZ Developers.
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Majeed confirmed that discussions with CD Ventures are ongoing. However, he declined to provide further details, citing a Non-Disclosure Agreement (NDA).
He reiterated that claims about insolvency are unfounded and stressed that financial obligations have been met. The matter remains under public scrutiny as stakeholders await further clarification from relevant authorities.
