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    Garcia, Jeric Teng join PBA Millionaires' Club after agreeing to multi-year deals

    Nov 7, 2013
    Former UST star Jeric Teng readily agreed to a two-year deal with Rain or Shine. Jerome Ascano

    Former UAAP MVP leads RR Garcia and University of Santo Tomas star Jeric Teng lead the new batch of rookie millionaires after reaching deals with their respective PBA teams on Thursday.

    Garcia, the veteran guard out of Far Eastern University and former MVP of the UAAP, joined the PBA’s 'Millionaires' Club' after agreeing to a three-year contract with Globalport worth P8.5 million, according to his agent Ed Ponceja.

    Selected sixth overall in the draft, Garcia is expected to receive the rookie maximum of P150,000 a month during his first year, P225,000 on the second year and P337,500 on his third and final year of contract.

    The 6’1” Teng, on the other hand, signed a two-year deal with a Rain or Shine team which drafted him 12th overall in Sunday’s PBA rookie draft at Robinsons Place in Malate, Manila.

    While details of the contract were withheld by Rain or Shine management, the sweet-shooting UST gunner will earn more or less P3.3 million excluding bonuses and other perks for the duration of his two-year deal, insiders said.

    Former Adamson Falcon shooter Alex Nuyles, Rain or Shine’s ninth pick in the draft, will get roughly P3.9 million in his two-year deal under the Asian Coatings franchise co-owned by businessmen Raymund Yu and Terry Que.

    Former Ateneo backcup big man Justin Chua has also inked a two-year deal with Globalport worth an estimated P3.5 million, while fellow Blue Eagle Ryan Buenafe is expected to get almost the same deal with the Alaska Aces.

    Continue reading below ↓

    The three top picks Greg Slaughter of Barangay Ginebra, Ian Sangalang of San Mig Coffee and Raymond Almazan are expected to sign lucrative three-year maximum rookie deals worth around P8.5 million by next week.

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    Former UST star Jeric Teng readily agreed to a two-year deal with Rain or Shine. Jerome Ascano
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