Banzuela had put his position at stake when he told the team that should they fail to enter the SEAG finals, he would resign his post. The team placed third.

"I’ve talked with some of our officials at matagal ko nang pinaplano ‘yon even before the SEA Games," Banzuela said.

"I even told the women’s team that if they could not play in the championship sa SEA Games, magre-resign talaga ako. Hindi nga sila nakarating sa finals. Pero as of now I’m still contemplating about it."

But even if Banzuela wishes to retire now, he could not do so as he must first settle the association’s arrears with the Federation Internationale de Volleyball (FIBV) amounting to 0,000 (R5.3 million). The amount is due for hosting the World Grand Prix last year.

The World Grand Prix, which featured four of the world’s top women’s volleyball teams, was a sporting success but a financial disaster.

Banzuela said he would step down after the financial problems are settled.

He said he expects to get money from hosting the Asian Women’s Club Championship this summer as part of its commitment with the FIBV.

"Unlike kasi sa Grand Prix, ‘yung Asian Championships walang hosting fee and at the same time may entry fee na around 0 per team. Doon tayo makakakuha ng sponsors to help us with our financial needs," Banzuela said.

The PVF is expected to hold a meeting next week to discuss further resolutions on their financial problem and the hosting of the event.

Meanwhile, Executive Director Guillermo Iroy clarified that the Philippine Sports Commission (PSC) cannot give financial assistance to the PVF for its obligations to the FIBV since it is a matter that only the association can solve.

"They cannot use the allocated budget the PSC gives to them dahil pondo ‘yan for the the athletes, so they’ll be working on that problem independently," said Iroy.