(From Manila Bulletin)
Nearly 40 years after disbanding its basketball team, Manila Electric Company (Meralco) is eyeing a return to the Philippine Basketball Association (PBA) next season.
Negotiations are under way for the purchase of Barako Bull franchise by Meralco, now owned by the group of telecommunication tycoon Manny V. Pangilinan, according to informed sources.
“There have been initial talks,” said the source who wished not to be named. “Meralco could take over the Barako Bull franchise starting next season.”
Meraclo, the largest electric distributor in the country, is a private firm controlled by Pangilinan’s Philippine Long Distance Telephone Company (PLDT), Metro Pacific Investment Corp. and Piltel Group (50.3 percent).
San Miguel Corp. (SMC) and Global 5000 Investment also have a 43 percent stake with Meralco with the First Philippine Holdings owning 6.7 percent shares.
Pangilinan owns the Talk ‘N Text basketball team in the PBA, while San Miguel has three teams, Ginebra, Purefoods TJ, and San Miguel Beer.
Although the deal could be completed before or during the PBA Fiesta Cup, the source said there would be no major changes at Barako Bull.
“The alignment and changes will happen next season,” the source said.
Calls to Raffy Castao, Barako Bull’s representative to the PBA board, were not returned.
Meralco is one of the original teams of the now defunct Manila Industrial and Commercial Athletic Association (MICAA).
Among its players then were Robert Jaworski, Big Boy Reynoso, Francis Arnaiz and Orly Bauzon.
Before Toyota came into the picture, Meralco, then owned by the Lopez family of ABS-CBN, was the great rival of the legendary Crispa Redmanizers in MICAA.
The rivalry reached boiling point in 1971 when Jaworski and Reynoso attacked referees Eriberto Cruz and Jose Obias in protest over dubious calls. The game was stopped with Crispa ahead, 65-50.
Jaworski and Reynoso were banned for life by the Basketball Association of the Philippines (BAP) but were reinstated in 1973.
Meralco disbanded in 1972 with majority of its players absorbed by the Silverio-owned company Komatsu Comets (later to be known as Toyota).
The possible return of Meralco is seen to add glamour and history to a league struggling to keep fans’ interest amid hard times.
Reports of Barako Bull’s financial difficulties began as early as 2008, but the franchise owned by businessman George Chua managed to stay with the league.
At the start of the current conference, Talk ‘N Text and Coca-Cola agreed to loan their players to the Energy Boosters, but reports of delayed release of players’ salaries persisted.
Alex Crisano, Barako Bull’s veteran center, confirmed the delay during the SCOOP forum weeks ago, a statement that did not draw reaction from the team.
Nearly 40 years after disbanding its basketball team, Manila Electric Company (Meralco) is eyeing a return to the Philippine Basketball Association (PBA) next season.
Negotiations are under way for the purchase of Barako Bull franchise by Meralco, now owned by the group of telecommunication tycoon Manny V. Pangilinan, according to informed sources.
“There have been initial talks,” said the source who wished not to be named. “Meralco could take over the Barako Bull franchise starting next season.”
Meraclo, the largest electric distributor in the country, is a private firm controlled by Pangilinan’s Philippine Long Distance Telephone Company (PLDT), Metro Pacific Investment Corp. and Piltel Group (50.3 percent).
San Miguel Corp. (SMC) and Global 5000 Investment also have a 43 percent stake with Meralco with the First Philippine Holdings owning 6.7 percent shares.
Pangilinan owns the Talk ‘N Text basketball team in the PBA, while San Miguel has three teams, Ginebra, Purefoods TJ, and San Miguel Beer.
Although the deal could be completed before or during the PBA Fiesta Cup, the source said there would be no major changes at Barako Bull.
“The alignment and changes will happen next season,” the source said.
Calls to Raffy Castao, Barako Bull’s representative to the PBA board, were not returned.
Meralco is one of the original teams of the now defunct Manila Industrial and Commercial Athletic Association (MICAA).
Among its players then were Robert Jaworski, Big Boy Reynoso, Francis Arnaiz and Orly Bauzon.
Before Toyota came into the picture, Meralco, then owned by the Lopez family of ABS-CBN, was the great rival of the legendary Crispa Redmanizers in MICAA.
The rivalry reached boiling point in 1971 when Jaworski and Reynoso attacked referees Eriberto Cruz and Jose Obias in protest over dubious calls. The game was stopped with Crispa ahead, 65-50.
Jaworski and Reynoso were banned for life by the Basketball Association of the Philippines (BAP) but were reinstated in 1973.
Meralco disbanded in 1972 with majority of its players absorbed by the Silverio-owned company Komatsu Comets (later to be known as Toyota).
The possible return of Meralco is seen to add glamour and history to a league struggling to keep fans’ interest amid hard times.
Reports of Barako Bull’s financial difficulties began as early as 2008, but the franchise owned by businessman George Chua managed to stay with the league.
At the start of the current conference, Talk ‘N Text and Coca-Cola agreed to loan their players to the Energy Boosters, but reports of delayed release of players’ salaries persisted.
Alex Crisano, Barako Bull’s veteran center, confirmed the delay during the SCOOP forum weeks ago, a statement that did not draw reaction from the team.
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