LAS VEGAS – Despite Terrafirma returning to compete in Season 50 of the PBA, the ‘For Sale’ sale remains hanging on the door.
League chairman Ricky Vargas said he was informed by Dyip management that the franchise is still up for sale should there be interested buyers that come in.
“We talked to Terrafirma management. They’re committed to perform their best and they’re committed to stay, but they also said that they are for sale,” said Vargas during the first day of the PBA board’s annual planning session at the MGM Grand.
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Despite two failed attempts to sell the franchise, Commissioner Willie Marcial admitted there are some firms that have expressed willingness to take over the team.
“Hindi lang natin alam kung gaano ka-interesado ang mga ito. Kaya parang hanging ang Terrafirma,” said Marcial.
Both Starhorse Shipping Lines and Zamboanga Valientes earlier held talks about buying the former expansion franchise under the KIA banner, but negotiations fell through and led to the Dyip staying on for the PBA’s golden season.
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“Remember we have two interested applicants, but we had problems with submission of requirements. So we have to be a little more careful in vetting the companies that are interested to join the PBA,” said league legal counsel Ogie Narvasa.
“We have to vet more closely the companies that are interested.”
Preparing for its campaign in the new season, Terrafirma used the No. 1 overall pick in this year’s draft to tap former Gilas back-up big man Geo Chiu.
It also has a new coach in Ronald Tubid and a new team manager in Waiyip Chong, though the team has yet to name a new representative to the board after former governor Bobby Rosales stepped down.
“So they’re committed to stay until there’s really a buyer,” added Atty. Narvasa.
“Let’s see what happens,” added Vargas.
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