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Sports

Blackwater plans to join pro league

Joey Villar, Nelson Beltran - The Philippine Star

MANILA, Philippines - Blackwater Sports could be the first expansion team to join the PBA in over a decade as the one-time PBA D-League champion signified its intention to join the big league despite a hefty PBA franchise fee now pegged at a staggering price of P100 million.

Blackwater Sports owner Dioceldo Sy has told PBA officials they will formalize their bid via a letter of intent that they’re sending to the PBA office before the next PBA board meeting next Thursday.

“They said it would be (forwarding the letter of intent) today (yesterday) or any day before the board meeting,” said PBA media bureau chief Willie Marcial.

In his ascension to the PBA board chairmanship, Mon Segismundo bared league expansion is among the high points of his programs during his tenure as league chieftain.

Indications point to the acceptance of Blackwater Sports as the PBA’s 11th ball club for the league’s 40th season starting in October.

For one, Blackwater and the other major brands of Sy’s businesses have no rival products in the current PBA membership.

And Sy is well known in Philippine basketball circle; many can vouch for his integrity and capability to maintain a ball club for a long haul.

A businessman who himself plays the sport, Sy has been in the semi-pro league for years, having championship victories in the defunct Philippine Basketball League.

If ever, Blackwater would be the first team to join the PBA via expansion since Red Bull in 2000. Air21 (2002), Rain or Shine (2006) and Meralco (2010) gained entry into the league by purchasing existing ball clubs.

Blackwater, however, would be the first ever to shell out a nine-figure check for a franchise. That would be on top of the playing contracts they are set to give their players.

Meralco apparently bought Sta. Lucia for around P60-70 million.

“The board has raised the PBA franchise fee,” said Marcial.         

 

vuukle comment

BLACKWATER SPORTS

DIOCELDO SY

LEAGUE

MERALCO

MON SEGISMUNDO

PBA

PHILIPPINE BASKETBALL LEAGUE

RED BULL

SY

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