A top Barako Bull official denied reports that the company’s PBA franchise is up for sale even though he admitted that they are affected by the global economic crisis.

“That is not true,” Tony Chua told the Bulletin yesterday reacting to reports that the franchise is looking for interested parties willing to buy the team. “There are times that company faces difficulties.”

“If it is true that we are selling the franchise, we would come out with an official statement if we are for sale. That is our problem, if it is for sale,” added Chua, the team’s representative to the PBA board.

According to league sources, Barako Bull is having problems paying the salaries of its players on time, which actually started even prior to the previous season.

The team has also been giving away some of its top players in one-sided trades and reports said Red Bull preferred to get cash rather than players of equivalent caliber to tide them over.

A source, who asked not to be named as he is not authorized to talk about issues concerning the team, said several players of Barako Bull have filed a complaint with the PBA Commissioner’s Office asking for help because of the delay in their salaries.

The same source said about six players have individually written the PBA to assess it of the problem.

A PBA employee, who also requested anonymity, confirmed the letters. Asked to confirm this report, Chua did not reply.