Gilas Phl to receive P1-M bonus from PSSBC

MANILA, Philippines - The awarding of the P1 million bonus to the Gilas Pilipinas for its courageous performance in the recent FIBA World Cup in Spain will highlight the opening of the third Philippine Secondary Schools Basketball Championship (PSSBC) Ironcon Builders Cup on Nov. 8 at the Chiang Kai Shek College gym in Tondo, Manila.

The Nationals tallied just one win out of five games in the biggest stage of basketball competition but the impact of their 81-79 overtime win over the taller Senegal squad was not lost on the Filipino patrons.

A bevy of sports-loving Fil-Chinese businessmen were among those who witnessed Gilas’ gallantry and also among those who shed tears of joy when the final buzzer sounded.

The feat – considered by billionaire businessman Manny V. Pangilinan as one for the ages – also prompted Hapee Toothpaste big boss Dr. Cecilio Pedro, Ever Bilena-Blackwater owner Dioceldo Sy and Freego’s Eduard Tio to raise P1 million that will be shared by the players and the coaching staff.

“It’s just fitting that we will hand the bonus to the Gilas in front of our youngsters so that they will be inspired further not because of the reward but for the passion and fire Gilas dished out during the tournament ,” said Pedro. “I just hope the future batch of Gilas Pilipinas will come from this bunch of players.”

“We’re very proud of what Gilas did during the World Cup,” said Tio. “It was a momentous occasion.”

The last time a Philippines team won in the event then known as World Championship was in 1973 when the country beat another team from Africa, the Central African Republic.

“It took us 36 years before we finally savored the sweet taste of victory, so it’s just fitting that we give them a bonus,” said Sy.

Pedro, Sy and Tio comprise the PSSBC Board along with Rain or Shine’s Terry Que, Ironcon Builders’ Jimi Lim, MEC Computers’ Leoncio Chua, Dickies Underwear’s Rudy Yu and Jumbo Plastic Linoleum’s Jimmy dela Cruz.