NORTHPORT and Terrafirma are both nearing their last trip in the PBA.
The Batang Pier are on their way to being sold to Pureblends Corp., while the Dyip are still up for sale despite staying on as part of the pro league’s golden anniversary season that fires off on Oct. 5 at the Smart Araneta Coliseum.
The PBA Board tackled the status of both ballclubs during its annual planning session last Wednesday at the MGM Grand in Las Vegas.
Chairman Ricky Vargas said Pureblends is now close to taking over Northport, adding it’s just a matter of time before the board greenlights the official acquisition of the Batang Pier lock, stock, and barrel.
“Due diligence has begun and it may just happen anytime that this is close, and we may expect a new team in the PBA in the opening of the 50th season,” Vargas said on the first day of the planning session.
Despite being a direct competitor, San Miguel Corporation has given way to the possible entry of Pureblends, which, just like the country’s giant food and beverage company, is also in the food manufacturing business.
“We thank San Miguel for allowing that as well because we have a strict policy of not allowing competitors and they allowed Pureblends to come in,” Vargas added.
Despite twice failing to sell the Terrafirma franchise, the squad remains on the market.
“We talked to Terrafirma management. They’re committed to perform their best and they’re committed to stay, but they also said that they are for sale,” Vargas admitted.
Two potential buyers in Starhorse Shipping Lines and Zamboanga Valientes both failed to complete a buyout with Terrafirma management.
The PBA admitted there are still interested firms looking at acquiring the Dyip franchise, but opted to keep it close to its chest—for now.
“Remember, we have two interested applicants, but we have problems with the submission of requirements. So, we have to be a little more careful in vetting the companies that are interested in joining the PBA,” legal counsel Atty. Ogie Narvasa said.
Terrafirma chose to keep the crew and see action in the coming season, with new coach Ronald Tubid tabbing 6-foot-9 big man Geo Chiu as the Dyip’s top overall pick in last Sunday’s Draft at the Mall of Asia Music Hall in Pasay.
