PBA commissioner Willie Marcial confirmed on Thursday that the sale of Terrafirma's franchise to a consortium led by Starhorse Shipping Lines has fallen through, but bared the league is now talking to three interested buyers.
SPIN.ph broke the story early Thursday.
READ Deal is off on sale of Terrafirma's PBA franchise to Starhorse?
Marcial said the sale of the Dyip franchise, first announced in February, was never consummated since Starhorse officials failed to comply with certain requirements set by the league, mostly on the financial aspect of the deal.
"Hindi sila (Starhorse) nakapag-comply on some requirements, especially doon sa financial side ng deal," Marcial told SPIN.ph.
There were also 'unmet requirements' in the separate negotiations between Starhorse and Terrafirma officials, Marcial added.
However, Marcial said the PBA has been quick to move on since it is already talking to three interested buyers, including two companies who have already forwarded Letters of Intent to the Commissioner's Office.
The officials of the three buyers have also visited the league office, Marcial added.
"Nagpunta na sa opisina ang mga 'yan," said Marcial, although he politely declined to reveal the names of the companies.
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