CONVERGE has officially become the newest member team of the PBA after its acquisition of the fabled Alaska franchise was approved via 11-0 vote by the league board.
Former PBA commissioner Chito Salud, back in a new capacity as Converge governor, announced the completion of the sale and the board approval in a press conference also attended by Commissioner Willie Marcial and Alaska's Dickie Bachmann.
Among Salud's first order of business was thanking PLDT head Manny V. Pangilinan on behalf of Converge founder and CEO Dennis Anthony Uy for not standing in the way of the entry of a rival brand to Asia's first pro league.
The MVP group has three teams in the pro league in Meralco, TNT and NLEX.
Veto power
As a member of long standing, it has the right to veto any application of rival companies under the league's by-laws.
"In the mind of Mr. Dennis Uy, Mr. Pangilinan is a true ambassador of the sport. Thus the PBA is proud with this sporting gesture," said Salud in a press conference held at the Mall of Asia Arena.
Salud said Converge is committed to putting together a competitive team. The first step is assessing the assets of Alaska including the players which it acquired in the sale valued at P117 million.
"Converge will be a strong and active member of the PBA," Salud assured.
Although Marcial did acknowledge the gesture of the MVP group, he said there were also incidents in the past where the board also allowed the entry of corporate rival such as in the case of Tanduay with San Miguel and Phoenix with Petron.
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