(From Manila Standard)
PHILIPPINE Basketball Association Chairman Rene Pardo said the sale of the Sta. Lucia Realty franchise to Meralco is likely to be formalized during the board of governors’ meeting on Aug. 10.
Pardo said it was sad to see the departure of former chairman and Sta. Lucia Realty governor Buddy Encarnado, who has been associated with the PBA for the past 18 years.
After months of speculation, the deal was finalized last Friday with the payment of the final installment by Meralco. The approval of the PBA board is likely to be a mere formality.
However, there was some good news for the PBA concerning another troubled franchise – Barako Bull, whose board representative lawyer Manny Mendoza informed the board that they plan to participate in the coming 2010-2011 season.
“We asked them outright what their plans were because it would be difficult if they suddenly leave,” said Pardo.
However, he disclosed that Commissioner Sonny Barrios had spoken to Barako Bull team owner George Chua and he had signified their intention to participate.
Pardo pointed out that the co-branding plan, which the PBA is formalizing, “would allow teams to accept a subsidiary or a non-competitive company,” which would be allowed to use their logo on the playing jerseys and help the team financially in exchange for the exposure.
The chairman said it was done in the on-going conference on an experimental basis, with Harbour Center of Mikee Romero teaming up with Barako Bull.
PHILIPPINE Basketball Association Chairman Rene Pardo said the sale of the Sta. Lucia Realty franchise to Meralco is likely to be formalized during the board of governors’ meeting on Aug. 10.
Pardo said it was sad to see the departure of former chairman and Sta. Lucia Realty governor Buddy Encarnado, who has been associated with the PBA for the past 18 years.
After months of speculation, the deal was finalized last Friday with the payment of the final installment by Meralco. The approval of the PBA board is likely to be a mere formality.
However, there was some good news for the PBA concerning another troubled franchise – Barako Bull, whose board representative lawyer Manny Mendoza informed the board that they plan to participate in the coming 2010-2011 season.
“We asked them outright what their plans were because it would be difficult if they suddenly leave,” said Pardo.
However, he disclosed that Commissioner Sonny Barrios had spoken to Barako Bull team owner George Chua and he had signified their intention to participate.
Pardo pointed out that the co-branding plan, which the PBA is formalizing, “would allow teams to accept a subsidiary or a non-competitive company,” which would be allowed to use their logo on the playing jerseys and help the team financially in exchange for the exposure.
The chairman said it was done in the on-going conference on an experimental basis, with Harbour Center of Mikee Romero teaming up with Barako Bull.
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