WITH MERALCO getting the PBA board’s nod to take over the Sta. Lucia Realty franchise, coach Ryan Gregorio is looking forward to starting a new chapter in his career.
Meralco formally gained the approval of league governors to purchase the Realtors’ spot in the PBA Tuesday. Details of the sale were not revealed, although sources said the amount is “not lower than P50 million but not more than P70 million” after considering Sta. Lucia’s worth at the time of its disbandment.
Ramon Segismundo, senior VP and head of human resources and corporate services of the electric company, has been named Meralco’s board representative with Betty C. Sy-Yap acting as alternate governor.
Gregorio was lured out of Derby Ace late Monday night and signed a lucrative five-year contract that will not only have him coaching the Meralco team but heading the company’s advocacy program as well.
The development left the Llamados without a coach and sparked talk of another coaching rigodon among San Miguel Corp. teams. Derby Ace representative Rene Pardo, who is also the league chair, said through a text message that they will have to go through a selection process to determine their next coach.
Gregorio is now part of Meralco’s corporate staff as AVP for sports and head of basketball operations, a position which he said “will cater around the service to the younger generation that is not basketball per se.
“It is all about service, and giving back,” Gregorio said.
A winner of three championships with Derby Ace/Purefoods, Gregorio will form the Meralco squad from scratch starting Monday when he gets back from a family vacation in Guam.
Meralco becomes the second team of business tycoon Manny V. Pangilinan in Asia’s first play-for-pay league after Talk ‘N Text, which also acquired Sta. Lucia cornerstones Ryan Reyes and Kelly Williams.
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