THE sale of the Alaska franchise to Converge ICT of billionaire Dennis Anthony Uy was reportedly approved by the PBA board of governors yesterday.
Commissioner Willie Marcial told Malaya-Business Insight that an official announcement regarding the matter will be held today in a press conference.
Uy is the namesake of Phoenix Super LPG owner and fellow billionaire Dennis Uy, although the two are not related.
Aces coach Jeff Cariaso said if and when the sale pushes through, he hopes the core of the Aces will also be bought lock, stock, and barrel.
Also reported to have shown interest in buying the Alaska franchise is Universal Canning Incorporation’s Family’s Brand Sardines.
In a report by bilyonaryo.com, the PBA reportedly asked Converge to submit a P100 million bond as membership fee for five years; deposit P7 million as equity; and pay a P7 million transfer fee.
