IS NorthPort on its way out of the PBA?
Multiple sources told SPIN.ph a company in the food and beverages business has already submitted a Letter of Intent and other pertinent documents for the acquisition of the PBA franchise of the port operator located at the Manila North Harbour.
The Board of Governors has reportedly been notified by Commissioner Willie Marcial of the impending sale when the league's policy-making body met prior to Gilas Pilipinas’ departure for the 31st FIBA Asia Cup in Jeddah, Saudi Arabia.
LIST: Top players that NorthPort either traded or failed to keep
The prospective buyer was given the choice of either joining the league as an expansion team or acquiring an existing franchise in time for the PBA’s 50th season, sources said.
It turned out the buyer has long been interested in acquiring NorthPort, the franchise that previously took over the Powerade Tigers team in 2012 under the Sultan 900 Capital of Mikee Romero.
While no formal agreement has yet been reached, sources knowledgeable of the negotiations said it’s only a matter of time before the sale will be approved.
The move certainly comes as a surprise since NorthPort wasn't in the news to be up for sale, unlike another PBA franchise in Terrafirma.
But SPIN.ph sources said the league tried to keep the deal under wraps so as to avoid the same fate suffered by the Dyip franchise, which failed to strike a deal with two potential buyers, Starhorse Shipping and Zamboanga Valientes.
Text messages to NorthPort officials have yet to get a response as of posting time.
While Northport’s sale was not out in the open, a series of disturbing events in Season 49 suggested ongoing turmoil within the team.
After reaching the semis in the mid-season Commissioner’s Cup in which it finished as the top seed, the Batang Pier suddenly disintegrated from a title-contending team to a cellar dweller during the Philippine Cup where it failed to make the playoffs.
The team then lost star player Arvin Tolentino to the Korean Basketball League while the season was still in progress, then traded away William Navarro to Magnolia for Calvin Abueva and Jerick Balanza.
In the off-season, it also let go of Allyn Bulanadi (now with Pangasinan in the MPBL) and Paolo Taha, who just signed a two-year contract with Magnolia.
Despite the departure of certain personnel, the Batang Pier still have the pieces to compete with the likes of Abueva, Joshua Munzon, and Jio Jalalon in the lineup along with Cade Flores, Evan Nellie, Fran Yu, Damie Cuntapay, James Kwekuteye, Balanza, Sidney Onwubere, and Avan Nava.
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