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    How top-level talks got Converge's buyout of Alaska done

    Owners talking directly makes for smooth negotiations
    Mar 23, 2022
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    FORMER PBA commissioner Chito Salud declined to speculate on the figures involved in the Converge ICT Solutions’ buyout of the Alaska franchise.

    Salud said negotiations on the acquisition by Converge of the multi-titled team that won 14 championships in its 36-year stint in Asia’s first play-for-pay league involved top-level management.

    “The parties who negotiated the sale were the owners,” disclosed Salud, who will serve as team governor of Converge in the PBA board.

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      “It was a direct negotiation between Dennis (Anthony Uy) and Mr. Fred Uytengsu. So I would not like to comment on something that I was not a part of.”

      Former Alaska team governor Dickie Bachmann confirmed Salud’s pronouncement, stressing the negotiations weren’t made at their level.

      “With regards to the sale as Com. Chito said basically, we weren’t involved. It was the two owners talking,” said Bachmann, who is chairman of the PBA 3x3 tournament.

      US negotiations?

      Uy is currently in the US for a business engagement, though it’s yet been determined if the trip also involved a meeting with Uytengsu regarding the sale of Alaska.

      Uytengsu has been based in the US with his family for a while.

      League insiders bared that the PLDT group's decision to step aside and not contest Converge's bid to join the PBA had the blessings of chairman Manny V. Pangilinan.

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        When Alaska announced it will formally play its final season in the league, the franchise was reportedly valued at P100 million.

        But talks had it Converge could have bought the team at an even lower value.

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