PBSD: business group to boost Philippine sports

MANILA, Philippines — Business tycoon and sports patron Manny V. Pangilinan is spearheading the formation of the Philippine Business for Sports Development (PBSD) to strengthen private sector support for Filipino athletes.

The PBSD, according to TNT KaTropa governor and PBA chairman Ricky Vargas, is the sports version of the corporate-led Philippine Business for Social Progress (PBSP) and the private sector-led Philippine Disaster Relief Foundation for social development and disaster management, respectively.

“MVP (Pangilinan) has this vision of putting up the Philippine Business for Sports Development,” Vargas, PLDT’s Business Transformation Office Head and board of trustee at the MVP Sports Foundation, shared during yesterday’s PSA Forum online.

“This would be an aggrupation of businesses, private companies that will form each other into a foundation and try to help sports,” he added.

Vargas said the foundation will complement the assistance of the government arm Philippine Sports Commission (PSC) and the private Philippine Olympic Committee (POC) to the development of Pinoy bets.

He revealed that the group has already set things in motion prior to the lockdown.

“It’s amazing. We had our first meeting and the draft of the constitution and by-laws is now ready. It was just delayed by the pandemic,” he said.

“This, I think, is an MVP legacy and I’m excited to be working on this project. This in itself will help the athletes in their development,” he added.

PLDT chairman Pangilinan, through the MVPSF which he chairs, has been a major supporter of Team Phl.

Aside from Gilas Pilipinas, MVPSF also supports bets in gymnastics, weightlifting, boxing, golf, rugby, cycling, football, and taekwondo.

During the last Southeast Asian Games, MVPSF-backed bets accounted for 35 gold medals, led by world champion gymnast Caloy Yulo and Rio Olympics silver medalist Hidilyn Diaz.