Plot Thickens In Powerade 'Sale'
MANILA, Philippines — PBA Commissioner Chito Salud appears to be himself cluelesss regarding the reported sale of the Coca-Cola/Powerade franchise to San Miguel and has gone directly to the person who can shed light on the matter.
This will be William Schultz, chairman and CEO of Cosmos and Coca-Cola Bottlers Philippines, whom he has sent a letter asking whether the Powerade franchise had indeed been sold to San Miguel.
A meeting called by PBA chairman Mamerto Mondragon of Rain or Shine yesterday which also sought clarification ended without any substantive conclusion because there was no meeting at all as representatives identified with San Miguel begged off. The meeting was then called off for lack of quorum.
“In the spirit of transparency and full disclosure, and to serve our fans’ best interest, I’m writing to Coca-Cola to seek clarification on the persistent media reports,” said Salud. “We want them to state their official position.”
Salud also wanted to know the status of Mr. JB Baylon if he remains the team’s representative to the PBA board or if he has been replaced.
Baylon, the PBA vice chairman and governor of the Powerade Tigers, was absent from yesterday’s special board meeting.
Present in yesterday’s meeting, besides Mondragon, were Talk ‘N Text’s Patrick Gregorio, Meralco’s Ramon Segismundo, Air21’s Al Villadolid and Alaska’s Joaqui Trillo.
Absent were Barangay Ginebra’s Robert Non, Petron’s Ely Capacio, B-Meg’s Pardo, and Barako Bull’s representative.
The meeting has been reset for Feb. 20, also at the PBA office in Libis, Quezon City.
"I ascribe to good faith that their reasons are valid for not being able to make it," Salud said.
Although a paper trail has developed regarding the sale, Salud still wanted to get the information direct from the Coke’s top Philippine official.
Schultz reportedly offered the franchise to San Miguiel in a letter dated Nov. 11, 2011 addressed to SMC president Ramon S. Ang. In the letter, Schultz reportedly mentioned a Feb. 2007 agreement between the two companies, giving SMC the right to purchase the Coke franchise should it be up for sale.
The letter, apparently not made known to Baylon, triggered the whole media frenzy.
Schultz‘s letter quoted an amount of P100 million as franchise price, with a "60-day" ultimatum set for SMC to “exercise its right of first refusal” to buy the team.
Should SMC fail to respond or accept the offer, the letter said, “then you shall be deemed to have expressly Marianowaived your right of first refusal, and the Company can now offer the PBA franchise to third parties under the same terms offered to you.”
San Miguel has been mum about the offer and an official identified with the comapny, Barangay Ginebra’s Non, the league treasurer, said that no such sale had been consummated.
“Kuryente yan,” said Non, which in journalistic parlance means, not true.
Salud also withold decision on the proposed trade that would have sent Powerade’s Marcio Lassiter to Petron Blaze for 2010 No. 1 draft pick Nonoy Baclao and forward Rey Guevarra.





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