LAS VEGAS - A new franchise could be joining the PBA in time for its 50th season.
Board Chairman Ricky Vargas hinted about Pureblends Corp. finally taking over the NorthPort team after the issue was tackled during the first day of the annual planning session at the MGM Grand here.
Vargas said it's only a matter of time before the Board finally allowed the new owner to handle the operations of the Batang Pier franchise.
READ: Arejola to Magnolia, Pido, Chong to Dyip in NorthPort 'dispersal'
"It may happen any time that this is close. Talks are very serious about NorthPort," said Vargas on Wednesday after hearing the review committee make an official report on the financial status of the interested buyer.
"We may expect a new team in the PBA in the opening of the 50th season," he added.
Meralco governor Atty. Bill Paminuntuan, who is part of the review committee, said Pureblends still has to submit one other pertaining documents before the group endorsed the application to the Commissioner's Office.
"May isa pa kaming hinihingi na documents sa kanila before we can submit the recommendations to the Commissioner's Office. But we have reviewed everything including the financial status and OK na lahat yun. Isa na lang kailangan nilang ibigay.
"Basically, the ball is in their hands right now."
Once the Commissioner's Office received the endorsement of the review committee - that also included Atty. Raymond Zorilla of NLEX and PBA legal counsel Atty. Ogie Narvasa - the papers will be submitted to the Board for final approval.
"While we will miss Northport, it's a welcome for all of us that we bring in this team," said Vargas of Pureblends Corp., adding the company produces coffee, tea, and is basically a food manufacturing firm.
The Board is also thankful for San Miguel Corporation in allowing Pureblends to buy an existing PBA franchise despite being in the same food industry in the country.
"We thank San Miguel for allowing that as well because we have strict policy of not allowing competitors. And they allowed Pureblends to come in," stressed Vargas.
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