FILE–Alaska owner Fred Uytengsu. PBA IMAGES
MANILA, Philippines—Alaska team owner Wilfred Uytengsu said that the company is looking to sell the franchise after making the “tough” decision to leave the PBA after 35 seasons in a news that shocked basketball fans.
Alaska’s departure from the PBA will certainly leave a huge void with the team being one of the most storied clubs in the league.
But Uytengsu said there are no immediate buyers at the moment and if no sale pushes through by the end of the ongoing season, the players will go into dispersal draft.
“First of all, there are no immediate buyers but it remains a possibility that we can sell our franchise to another company if they want to come in at the end of the season,” said Uytengsu in a virtual press conference Wednesday following the announcement.
“If there is no buyer at that time, the franchise will revert back to the PBA and pursuant to the bylaws of the PBA, the players will go into the dispersal draft.”
The Aces will play out the rest of the 2021-22 Governors’ Cup where they hold a 3-2 record so far.
Alaska won 14 titles in the PBA including the 1996 Grand Slam, establishing itself as one of the most iconic franchises in league history.
A company that sells milk, the Aces distanced themselves from the macho identity of the 1980s and 1990s and instead showed a wholesome persona that a large section of the fans gravitated to.
“I appreciated my partnership with the PBA and having served the PBA to help make it a better organization. As I say, all good things come to an end and at the end of the season, it will be our 35th and final season in the PBA.”
