(From Sta. Lucia Realtors)
There are no official announcement yet that the Sta. Lucia Realtors are for sale, but rumors started to spring that tagged two powerful companies as having the inside track in case negotiation pushes through.
Manila Electric Company (Meralco), a company with rich basketball tradition, has already expressed their interest in joining the Philippine Basketball Association (PBA). In fact, a source revealed that Manuel V. Pangilinan had already announced to some key company employees its plan to participate in the PBA. It is not clear though whether they are planning to assemble a new team from the amateurs or acquire an existing franchise.
Henry Sy, head of department store giant SM, was also reported to be interested and is willing to invest in the PBA. There are no official word yet, but the blogosphere is awashed with unsubstantiated reports that SM is currently considered by many SLR insiders as an avid suitor.
Meralco and SM are reportedly at the top of the list, while everyone else is two, three, four and five. If they want to buy SLR, then the two companies need to make a very attractive offer to both the management and the players.
Pangilinan and Sy are both ranked by several observers as the powerful people in both politics and banking with a total wealth that runs to billions of pesos. If either of these two businessmen were to purchase the Realtors, league sources say present coach Boyet Fernandez could still retain his position, but Buddy Encarnado will most likely be given his walking papers.
It can be recalled that SLR released most of its experienced player that were instrumental in capturing the 2008 PBA Philippine Cup Title because of financial problems. Sources say the management believes that they can still make money if they can sell the franchise this year with all star Kelly Williams and Ryan Reyes still in the fold.
SLR has been with the league since 1993, and the franchise's lack of success during that time (only two championship crowns and several third-place finishes) has angered many Realtor fans. The team ranks near the bottom of the standings for two years now and the ownership are hesitant to invest in big names in the reserve list and free agency.
Sources revealed that Pangilinan and Sy are willing to pour in more funds to rehabilitate and overhaul of the team's front-office, coaching staffs and player rosters.
There are no official announcement yet that the Sta. Lucia Realtors are for sale, but rumors started to spring that tagged two powerful companies as having the inside track in case negotiation pushes through.
Manila Electric Company (Meralco), a company with rich basketball tradition, has already expressed their interest in joining the Philippine Basketball Association (PBA). In fact, a source revealed that Manuel V. Pangilinan had already announced to some key company employees its plan to participate in the PBA. It is not clear though whether they are planning to assemble a new team from the amateurs or acquire an existing franchise.
Henry Sy, head of department store giant SM, was also reported to be interested and is willing to invest in the PBA. There are no official word yet, but the blogosphere is awashed with unsubstantiated reports that SM is currently considered by many SLR insiders as an avid suitor.
Meralco and SM are reportedly at the top of the list, while everyone else is two, three, four and five. If they want to buy SLR, then the two companies need to make a very attractive offer to both the management and the players.
Pangilinan and Sy are both ranked by several observers as the powerful people in both politics and banking with a total wealth that runs to billions of pesos. If either of these two businessmen were to purchase the Realtors, league sources say present coach Boyet Fernandez could still retain his position, but Buddy Encarnado will most likely be given his walking papers.
It can be recalled that SLR released most of its experienced player that were instrumental in capturing the 2008 PBA Philippine Cup Title because of financial problems. Sources say the management believes that they can still make money if they can sell the franchise this year with all star Kelly Williams and Ryan Reyes still in the fold.
SLR has been with the league since 1993, and the franchise's lack of success during that time (only two championship crowns and several third-place finishes) has angered many Realtor fans. The team ranks near the bottom of the standings for two years now and the ownership are hesitant to invest in big names in the reserve list and free agency.
Sources revealed that Pangilinan and Sy are willing to pour in more funds to rehabilitate and overhaul of the team's front-office, coaching staffs and player rosters.
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