E-Painters ditching Buenafe, signing Tiu

Rain or Shine will sign up former national team mainstay Chris Tiu to a three-year deal worth the maximum amount for rookies today.

And while management and Tiu agreed in principle to the contract, Rain or Shine was finalizing a deal with Meralco late yesterday that would ship out swingman Ronjay Buenafe in exchange for the Bolts’ 2014 Rookie Draft rights.

Tiu’s arrival would overload the Elasto Painters’ off guard rotation even more, forcing management’s hand on Buenafe’s future.

Aside from Tiu, Gabe Norwood, Jeff Chan, Ryan Araña, Iireh Ibañez and Ronnie Matias also play the off guard spot.

Tiu, chosen seventh overall in the Draft, will receive P150,000 a month in his first year and will be joining Paul Lee in forming one of the most talented backcourts in the league.

Lee, incidentally, could be out for the early part of the Philippine Cup after undergoing surgery on his left shoulder earlier this month.