Barako Bull’s PBA franchise up for sale?

By WAYLON GALVEZ
July 22, 2009, 5:22pm

Talks that the Barako Bull franchise may be up for sale has cropped up again.

Sources from the Philippine Basketball Association disclosed yesterday that the team is ready to discuss offers from interested parties as the global economic slowdown appeared to have hit the local Red Bull company hard more than other PBA members.

Calls to confirm the proposed sale went unanswered as team officials failed to return calls.

Even as the rumors of a Red Bull sale spread, the PBA was at the same time trying to discuss the possibility of adding two more teams to the league.

According to league sources, the team owned by businessman George Chua is reportedly up for sale.

This is actually not the first time that rumors of Red Bull being for sale have been circulating.

A source who asked not to be named because he was not authorized to discuss the matter, said that Barako Bull is talking to several firms. He, however, did not identify the firms supposedly interested to buy Red Bull.

Prior to the Fiesta Cup, there were talks that the franchise is looking for buyers after reports circulated that players were not getting their pay on time.

Financial problems were also reported to be behind the departure of Yeng Guiao as coach who has since transferred to Burger King.

PBA commissioner Renauld “Sonny” Barrios, on the other hand, explained the ramifications of buying the franchise of a member and getting one directly from the PBA.

“If you buy it from the PBA, you can directly bring up some amateurs and have the first pick in the dispersal and rookie drafts. If you buy it directly from the franchisee, you acquire the team’s players,” Barrios said.

“Pero ano pa ba dadatnan mo sa franchise na iyon? Most of the star players may already have been traded and you may just be buying a shell of a franchise.”

He said an interested party must pay at least P60 million franchise fee, although the amount could be less if one buys directly from the franchise owner.

Incoming PBA board chairman Lito Alvarez of Burger King mentioned recently his plans to discuss with his fellow governors the possibility to expand, saying: “I think it’s about time the PBA pushes for expansion. Right now, you will see players even in their early 30s who were forced to early retirement as they have no teams to play for.”

Reportedly interested in joining the PBA are the SM Group of Companies, Phoenix Fuels and PBL team Hapee Toothpaste.