MANILA, Philippines -- Long-time sportsman-businessman Manny V. Pangilinan announced on Thursday that he is finally “retiring” from the Samahang Basketbol ng Pilipinas after serving for a total of eight years as the SBP’s president.
Pangilinan, known simply by his initials MVP, explained that his term as president of the country’s governing basketball body already ended last February.
And though under his term, Philippine basketball took a big leap with the country’s return to the Fiba World Cup last year, along with back-to-back silver-medal finishes in the last two Fiba-Asia men’s championships, Pangilinan said leaving the top position is the proper thing to do.
“I don't want to violate the rules that we have crafted... It's for the best that I retire," Pangilinan told media men who attended the hastily called press conference at the PLDT head office in Makati.
The 69-year-old sports patron also mentioned that the SBP will be holding its annual special assembly in January 2016 to elect the new set of officials, reiterating that his second term as SBP president, as well as the other officials already expired last February.
Pangilinan said his retirement could hopefully pave the way for “fresh, young blood” to come in and help take Philippine basketball to the next level.
"It signals a change of leadership and membership of the board," said Pangilinan. "Perhaps the new membership needs fresh blood for Philippine basketball."