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Coca-Cola Bottlers Philippines Inc., the company that owns the Powerade Tigers franchise in the PBA, has denied newspaper reports that the squad has been sold to the San Miguel Corporation.
“The story is there is no story,” wrote Cat Avelino, Corporate Communications Director of CCBPI, in a text message to InterAKTV. “There’s no sale consummated.”
The Philippine Star and the Philippine Daily Inquirer both reported that the franchise has been sold back to SMC. The giant conglomerate used to own part of CCBPI before selling out of the corporation late in 2006. Along with the corporate sale, SMC also let go of the PBA franchise.
But according to terms of that transaction, SMC retained right of first refusal to buy the PBA team if ever CCBPI decided to sell the franchise.
JB Baylon, who represents Powerade in the PBA Board of Governors, gave a similar answer to Avelino, saying no sale has been consummated. Baylon serves as Corporate Communications Director of Coca-Cola Export Philippines, which owns part of the CCBPI business.
Alarm bells
The report of the sale has raised alarm bells among other members of the PBA board, who warned that the transaction would affect the integrity of the league.
“If it’s true, then the move is definitely dangerous for the PBA and the fans,” said Ramon Segismundo, who represents Meralco on the board.
Joaqui Trillo, Alaska team manager and PBA board representative, said that there had been informal talks among governors against having a company own four teams.
“If I remember it right, we’ve already discussed in one of our board meetings that a member team won’t be allowed to own more than three squads,” said Trillo.
Rain or Shine co-owner Raymond Yu said having one group own four teams in the league could affect parity and balance in the league.
“It will not be fair for the independent squads like us,” said Yu. Rain or Shine is one of only three teams without a sister team, along with Powerade and Alaska. SMC controls B-MEG, Barangay Ginebra, and Petron Blaze, the Manuel V. Pangilinan group bankrolls Meralco and Talk ‘N Text, while the Lina group owns Barako Bull and Air 21.
Worst case scenario
A PBA team executive who requested anonimity, however, had a different concern if SMC were able to get control of the Powerade franchise. The executive feared that the conglomerate would transfer talented players from the squad into its other teams before selling the franchise to a third party.
In 2006, just before the Coca-Cola Tigers franchise was sold by SMC, the team’s best players Rudy Hatfield, Rafi Reavis, and Billy Mamaril were traded to Ginebra.
Powerade is coming off a Cinderella run to the Philippine Cup finals, led by Best Player of the Conference Gary David and top rookies Marcio Lassiter and JVee Casio.
Source: Reynaldo Belen, interAKTV
Coca-Cola Bottlers Philippines Inc., the company that owns the Powerade Tigers franchise in the PBA, has denied newspaper reports that the squad has been sold to the San Miguel Corporation.
“The story is there is no story,” wrote Cat Avelino, Corporate Communications Director of CCBPI, in a text message to InterAKTV. “There’s no sale consummated.”
The Philippine Star and the Philippine Daily Inquirer both reported that the franchise has been sold back to SMC. The giant conglomerate used to own part of CCBPI before selling out of the corporation late in 2006. Along with the corporate sale, SMC also let go of the PBA franchise.
But according to terms of that transaction, SMC retained right of first refusal to buy the PBA team if ever CCBPI decided to sell the franchise.
JB Baylon, who represents Powerade in the PBA Board of Governors, gave a similar answer to Avelino, saying no sale has been consummated. Baylon serves as Corporate Communications Director of Coca-Cola Export Philippines, which owns part of the CCBPI business.
Alarm bells
The report of the sale has raised alarm bells among other members of the PBA board, who warned that the transaction would affect the integrity of the league.
“If it’s true, then the move is definitely dangerous for the PBA and the fans,” said Ramon Segismundo, who represents Meralco on the board.
Joaqui Trillo, Alaska team manager and PBA board representative, said that there had been informal talks among governors against having a company own four teams.
“If I remember it right, we’ve already discussed in one of our board meetings that a member team won’t be allowed to own more than three squads,” said Trillo.
Rain or Shine co-owner Raymond Yu said having one group own four teams in the league could affect parity and balance in the league.
“It will not be fair for the independent squads like us,” said Yu. Rain or Shine is one of only three teams without a sister team, along with Powerade and Alaska. SMC controls B-MEG, Barangay Ginebra, and Petron Blaze, the Manuel V. Pangilinan group bankrolls Meralco and Talk ‘N Text, while the Lina group owns Barako Bull and Air 21.
Worst case scenario
A PBA team executive who requested anonimity, however, had a different concern if SMC were able to get control of the Powerade franchise. The executive feared that the conglomerate would transfer talented players from the squad into its other teams before selling the franchise to a third party.
In 2006, just before the Coca-Cola Tigers franchise was sold by SMC, the team’s best players Rudy Hatfield, Rafi Reavis, and Billy Mamaril were traded to Ginebra.
Powerade is coming off a Cinderella run to the Philippine Cup finals, led by Best Player of the Conference Gary David and top rookies Marcio Lassiter and JVee Casio.
Source: Reynaldo Belen, interAKTV
Last edited by supr3mo on Fri Feb 03, 2012 3:43 pm; edited 1 time in total
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