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    Phoenix insider admits bid to acquire KIA, but bares negotiations hit a stalemate

    Dec 28, 2017

    PHOENIX, and KIA for that matter, will remain independent PBA teams – for now.

    A Phoenix insider admitted there have been negotiations about the acquisition of the KIA brand including the latter's PBA franchise, raising the possibility of the two becoming sister teams.

    However, the same insider bared the talks have reached a stalemate.

    “It’s not true,” the source, who requested not to be named, said a day after the Inquirer reported the impending sale of KIA to the Phoenix group. “There were previous talks, pero it’s not true.”

    “Hindi naman sa nag-bog down, nagkaroon lang ng stall, kasi dati pa yan eh,” the person close to team owner Dennis Uy added. “It was being pursued before … pero it hasn’t pushed through.”

    The Inquirer report came on the same day Phoenix dismantled Kia, 125-102 in their Philippine Cup matchup on Wednesday night in Antipolo.

    If the sale pushes through, Uy will become the third owner to have multiple teams in the pro league after Ramon S. Ang of San Miguel Corp. (Magnolia, SMB and Ginebra) and Manny V. Pangilinan of the PLDT group (TNT KaTropa, NLEX and Meralco).

    Asked if Uy is open to acquire a second franchise that would make him the third owner of multiple teams in the PBA, the source said it depends on how it would benefit Phoenix.

    “It depends. If he sees an opportunity, ganun lang naman siya. That’s his business philosophy,” the source said. “If there’s an opportunity, why not? And kung kaya ba eh.”

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