AFTER signing up top pick Joe Devance and prolific guard Ryan Araña yesterday, Welcoat disclosed that it is shopping for a swingman as the team’s rebuilding process took on an urgent note.

Last year’s record reportedly so embarrassed management that it vowed never to see it happen again.

Last season’s two-conference record of Welcoat was seven wins against 29 defeats, putting it dead last among 10 teams.

Besides the two rookies, also on board is 10-year PBA veteran forward Nick Belasco who was acquired from Alaska in exchange of Junjun Cabatu shortly after last Sunday’s Rookie Draft.

Team owners Terry Que and Raymund Yu separately did not reveal the name of the player they are trying to acquire since negotiations are still in progress.

But a PBA insider identified the player as Purefoods’ Noy Castillo, a former member of the RP team in the Busan Asian Games.

Together with Belasco, Welcoat is hoping that Castillo can provide the leadership and the stability required for a team filled with rookies. Besides that, the two can add firepower to a squad sadly lacking one.

The 6-foot-7 Devance signed a three-year deal worth R8.544 million at the Welcoat office in Pasig City.

"Of course, we’re very happy to finally sign him. Both sides are happy and hopefully this could be a start of something special for Welcoat in our PBA campaign," Que said.

The deal signed by the 25-year-old Devance is the maximum allowable for rookies, broken to R150,000 a month in the first year, R225,000 in the second and R337,000 in the third year.

The 6-foot-7 Devance was accompanied by his mother Mae Sanz and agent Edgar Tan during the contract-signing at Welcoat’s Pasig headquarters.

Arana, the 6-foot-1 former De La Salle University standout and defensive specialist of PBL three-time champion Harbour Centre, also signed a three-year pact worth R5.4 million.

The Dragons also reached an agreement with veteran guard Rob Wainwright, signing him to a two-year extension for R4.8 million.

"We’re happy with the progress we made this off-season," said Yu.