Ryan Gregorio, the three-time PBA champion head coach of Purefoods, will be calling the shots for Meralco when the former glory team of the ’70s makes a return to the Philippine basketball scene.

A high-ranking executive within the company owned by telecommunications tycoon Manny V. Pangilinan, president and chief executive of Meralco, and a minor level official in the Purefoods organization who has knowledge of the talks – both of whom asked not to be identified owing to the sensitive nature of the deal – confirmed that Gregorio, 38, is close to sealing a multi-year contract with ballclub that used to banner now-byword names like Robert Jaworski, Big Boy Reynoso, Francis Arnaiz, Jimmy Mariano, and Larry Mumar.

No terms of the contract were available, but one source said Gregorio, who reportedly met San Miguel Corporation president and chief operating officer Ramon S. Ang a couple of days ago, is less than 48 hours away from accepting an irresistible offer that included an assistant vice president position in the power distribution company formerly owned by the Lopez family.

Purefoods, like Ginebra San Miguel, falls under SMC’s corporate umbrella.

Gregorio didn’t answer calls made to his cell phone nor returned text messages. Neither were top executives of Talk ’N Text, Meralco and Purefoods available for comment.

After sharing power with fierce rival Crispa during the tumultuous days of local commercial basketball, Meralco, known as the Reddy Kilowatts, disbanded, leaving the Redmanizers alone to carry the torch in the newly-formed Philippine Basketball Association, Asia’s first professional league.

Jaworski and Co. were absorbed by the Komatsu Comets, later to be christened Toyota Comets, when the curtains raised for the PBA in 1975, and there sustained the popularity that eventually transformed them into heroes and legends to the basketball-adoring Filipino fans.

Word that the Meralco basketball team was going to be revived reached fever pitch a few months ago when it was announced that Pangilinan, also the owner of Smart, PLDT, Talk ’N Text and Maynilad, among other corporations, was assuming the CEO post.

Initially, reports came out that the Barako Bull Energy Boosters, the energy drink team owned by businessman George Chua, would be purchased by Pangilinan’s group, giving the MVP franchise a second team after the Tropang Texters.

“Coach Ryan asked permission from Mr. Ang and he got it,” said the source. “It was a career move and San Miguel would never get in the way of that. I was told naging maganda ang pagpapa-alam niya at pag-uusap nila.”