PBA board tackles new, lower offer by TV 5
MANILA, Philippines — The Philippine Basketball Association’s board of governors will discuss in an emergency meeting on Wednesday a new offer by TV5 of P800 million to assume the television franchise for the next five years.
TV-5 new offer represents a P100-million cut from its original offer of P917 million for five years.
Representatives of all nine teams are expected to attend the crucial gathering as the league charts its path for the next five years as options ranging from co-production to producing the games on its own have surfaced.
The emerging power in the television industry had initially offered P917 million to nail the broadcast rights of the league until 2016, but reduced it by P117 million after the PBA board’s ex-com met last week, with only P650 million in cash and the rest to be charged as marketing expense in promoting the league’s games.
The PBA had opened up the bidding for the rights and had set a bar of no less than P900 million for five years as the acceptable fee.
Only TV5 had come up with an offer as ABS-CBN, the network giant, opted not to participate in the bidding anymore, content on letting its co-production with Solar Sports end after the on-going Governors Cup in late August.
Producing the games itself has crossed the minds of the PBA leadership since 2010 and if that plan pushes through, sources said that two channels have been eyed to telecast the games – Studio 23 and GMA7 – where the PBA could buy prime time spots.
Solar bid the PBA adieu a few months back but did not renege on its contract that will run until the end of this season. Instead, Solar sought a co-production with ABS-CBN that’s why the games are being telecast over Studio 23.
Still, TV5’s ‘pruned down’ offer of P800 million remain to be heavy dough considering that Solar, until the end of its contract, will only end up paying the PBA a total of P170 million for the last three seasons.
