RAIN or Shine just secured its solid backcourt on Monday after shooting guard Jeff Chan re-signed with the franchise for a new contract.
Chan agreed to a maximum, three-year deal with the Elasto Painters worth P15.12 million, which meant a monthly salary of P420,000 for the former Gilas Pilipinas gunner.
Charlie Dy, who represents Chan, confirmed the new deal reached with the Asian Coating franchise.
“Congratulations @jeffreichan for your contract renewal with Rain Or Shine #RainOrShineElastopainters…,” Dy wrote in his twitter account @SportsAgentCD.
But more importantly, signing up Chan for the next three years assured Rain or Shine of retaining its reliable backcourt which the one-time Far Eastern University King Tamaraw shares with combo guard Paul Lee.
The Elasto Painters also signed Lee a year ago with the same maximum deal they offered to Chan.
Co-owners Raymund Yu and Terry Que were defintely elated at having retained one of the key pieces to the franchise's first ever pro championship.
"He deserves it. He's one of the vital cogs in our rotation," said Yu.
Added Que: "We're happy that he stayed with us."