NLEX’s acquisition of Air21 approved by PBA Board
MANILA, Philippines — The PBA Board of Governors has approved the sale of the Air21 franchise to Metro Pacific Investments Corp. (NLEX).
PBA chairman Ramon Segismundo on Thursday confirmed the acquisition of the Bert Lina-owned franchise by the Manny V. Pangilinan’s NLEX.
“Yes, it’s already approved. Documentation and next steps to follow,” he said in a text message to INQUIRER.net.
NLEX, which got the green light earlier this year as an expansion squad, sought a different route to enter the league where it could have a freer rein in building a competitive roster.
The expansion teams, which include Blackwater and Kia Motors, were not given direct-hire concessions by the board.
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