Price of 100 million pesos for the Alaska franchise – at least; PBA helps with “tedious” selling
MANILA, Philippines – Just hours after the news broke, and before the newspapers even appeared Thursday morning with the sad news that Alaska was leaving the PBA after 35 years of participation, a total of five serious buyers for the franchise stepped forward, essentially guaranteeing a full 12-team roster for next season and giving the remnants of the squad hope that they’ll keep working.
The league itself said it had three interested companies, while two came directly to speak to Alaska team manager Dickie Bachmann, asking him about the costs of running the team and expressing serious concern. intention to buy the franchise which won a total of 14 titles including a rare Grand Slam in 1996.
“I’m just sorry that I can’t give the names of these [two] businesses,” Bachmann told the Inquirer by phone early Thursday evening. “But they are very serious and would like to acquire the whole team if possible.”
PBA Commissioner Willie Marcial, meanwhile, is helping Alaska find a buyer and revealed to reporters at Smart Araneta Coliseum also on Thursday the three companies that have expressed intent.
Although the sale has generated a lot of interest, Marcial said a “tedious process” will be required to close the deal and none of the five buyers – or those who come after them also willing to buy – are assured. to seal the purchase.
“It will take a lot of meetings and a lot of concessions too,” the league chief told reporters. “We’re going to look at the finances of the potential company, do a thorough background check. Only then can we elevate him to the board; and to gain their approval, a two-thirds vote is required.
Marcial said the league is giving Alaska until the end of April to find its own buyer or, if the league completes the sale, the remaining aces on the team will go through a dispersal draft.
The last time the league held a scatter draft was during the PBA’s third expansion in 2014, when it welcomed Blackwater and Kia into its fold.
” We give [Alaska] until April to find their own buyer. Otherwise, we will oversee the whole process,” Marcial said.
The commissioner said it will also be a race against time for the franchise’s new owner.
“We’re hoping Alaska lands someone immediately so we can accommodate them in the next drafting cycle,” Marcial said.
The league pinned May for its annual rookie draft, paving the way for a season opener midway through the year.
Bachmann also told the Inquirer that the franchise would not go below 100 million pesos – which is the current price – and said it could even go up if the team were bought in bulk, in stock. and in barrels.
“My priority right now is to find these people [in the team] jobs,” Bachmann said. “That’s what Fred [Uytengsu, the owner who made the announcement Wednesday morning] wants to happen as much as possible.
Alaska defeated Rain or Shine, 80-74, to start their farewell tour on the right foot and Bachmann said they assured all team members they would receive financial assistance from the franchise .
Utilities staff – those who work far behind the spotlight and focus on players and coaches – will receive severance packages amounting to a total of six months of their current salary once the season is over.
“We would like to take care of them as much as possible,” Bachmann said. “Even players whose contracts are expiring will be taken care of.”
To subscribe to MORE APPLICANT to access The Philippine Daily Inquirer and over 70 titles, share up to 5 gadgets, listen to news, download as early as 4am and share articles on social media. Call 896 6000.