MANILA, Philippines—The Philippine Basketball Association wants to hear it straight from Coca-Cola whether the beverage company’s franchise in the league had been sold to another corporation.
PBA commissioner Chito Salud Friday sent a formal communication to Coca-Cola Bottlers Inc. chair and CEO William Schultz to seek clarification of persistent media reports that the franchise had been acquired by San Miguel Corp. to the tune of P100 million.
In a letter to SMC CEO Ramon Ang, dated Nov. 11, Schultz put the Powerade Tigers’ franchise on sale and gave the SMC group 60 days to decide whether to buy it, before Coca-Cola offers it to another party.
Salud was hoping to get a clear picture of the rumored sale during an emergency board meeting Friday that failed to reach a quorum after only five of 10 team representatives showed up.
The trade that will send Powerade rookie Marcio Lassiter to Petron Blaze in exchange for sophomores Nonoy Baclao and Rey Guevarra was also on the agenda.
“The trade is now at my office for my disposition and I am taking this stance: I am not inclined to take action until an official word from the parties involved on the supposed sale is obtained,” said Salud. “It’s within the prerogative of the commissioner to either approve, revise or reject outright any trade proposal.”
Representatives from SMC ballclubs Petron Blaze, Barangay Ginebra and B-Meg as well as Barako Bull didn’t show up along with Powerade’s JB Baylon, prompting PBA chair Mamerto Mondragon to move the meeting to Feb. 20.