CHICAGO - After completing the purchase of a PBA franchise last October, Titan Ultra attempted to put together an all-star cast of decorated former players as front office personnel and head coach.
As first reported by Gerry Ramos of SPIN.ph, the Giant Risers considered the following.
Gerry Esplana as team governor. Jerry Codinera as head coach and Allan Caidic as team manager.
SOURCES SAY Titan's original plan was a staff full of PBA legends
But what was anticipated to be a glittery, red-carpet introduction to the PBA for Titan turned out to be a source of unexpected sadness.
In a series of text messages which eventually ended in a telephone interview on Tuesday night, Titan Ultra team owner Bryann Calantoc told me why the proposed deal fell through.
"Much as we wanted to tap them to be the collective face of our franchise, masyadong overpriced naman. We have a healthy budget but we also have a business to run and we are not going to overpay," Calantoc said.
HOW MUCH IS THE PRICE OF HIRING LEGENDS?
Esplana, who was negotiating the failed deal according to Calantoc, asked for a salary which ranged in the mid six figures for each of the three former greats.
Esplana also supposedly suggested bringing in a scouting coach who will be similarly highly paid. All told, the potential payroll for the staff Esplana would bring in breached the low nine figures.
Jolted by the numbers, Calantoc said he made the fastest U-turn ever in his entire life. "They overpriced everything and I wasn't stupid to accept."
Look, Esplana and Co. have every right to demand a price point based on the respective brand names that they have toiled hard to establish in the course of their PBA careers.
But Titan's position was that while it was willing to pay top dollar for a head coach such as Codinera, they weren't going to pay that much.
PBA coaches' salaries vary, with Tim Cone leading the pack at a reported P1 million a month while a former Blackwater coach told me his take home pay was a modest P250,000 monthly including some beauty products and the unwelcome stress of losing so much.
SALARY BREAKDOWN.
Codinera's price tag was fair market value, just below what NLEX and Meralco pays its head coaches, multiple sources told me.
Because team governors in the league are already handsomely paid as corporate leaders, it's unclear if they actually get paid extra for the added responsibility. That being said, there's no reference point to determine if a six-figure salary is a good or bad value.
PBA team managers on average get P250,000.
"I'm willing to pay a sum that is fair market value and not over-priced. Businesses don't stay afloat by making reckless financial decisions," Calantoc added.
Sure, Calantoc wishes he had hired Esplana and Co.. but he also realizes that dreams and reality are often distant.
That's just how life works and that's why he has zero regrets.
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