PBA Commissioner Chito Salud. FILE PHOTO
MANILA, Philippines –Two companies have tendered their formal application to become the newest teams in the PBA, Asia’s oldest play-for-pay league.
The PBA commissioner’s office said on Sunday that it received formal letters of intent from Columbia Automotive Corporation (Team Kia) and Ever Bilena Inc. (Blackwater Sports) to put up PBA expansion teams.
But the letter of intent was just the first step in their bids as the league has to conduct due diligence on the franchises.
According to league commissioner Chito Salud, the application is “subject to a 3/4 approval by the Board of Governors after evaluation of their financial capacity, among others.”
Salud’s office will give its recommendation to the board based on its own assessment.
Blackwater Sports is making the leap from the PBA Development League to the pros barely a year after clinching its first ever championship in the league.
Kia, one of the country’s top car producers, meanwhile, has no known involvement in basketball here in the past but has been active in sports sponsorships worldwide.
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