Monday, August 08, 2005
Harbour Centre wants PBA team
BESIDES a new prospective Philippine Basketball Association applicant, it seems that an earlier applicant, Harbour Centre, is still pursuing its quest to own a franchise in the PBA despite failed negotiations with Shell weeks ago.
Reports have it that Harbour Centre is still very interested in owning a franchise in the PBA, although it isn’t known yet if it will join the league this 2005-2006 season set to start Oct. 2.
Harbour Centre almost bought the Shell franchise during the PBA board meeting last Tuesday but wouldn’t put up the reported P60 million Shell wanted. Harbour only offered P35 million, payable in three years.
The Shell franchise, acquired from Crispa in 1985 for P2 million and could be disposed of by the company anytime soon, is being dangled in the market after Shell filed for an indefinite leave of absence from the league.
Whatever the results of negotiations with the two firms, PBA Commissioner Noli Eala is not closing the doors for a new team, which can join as late as midseason to complete the 10-squad roster.
Another contender for a PBA franchise is reportedly Welcoat Paints, which applied years back but was beaten to the draw by Red Bull.
The problem for all the applicants, though, is the stiff price. A franchise, which costs P60 million not including maintenance, needs P45 to P60 million more in players’ salaries. JSV
(August 8, 2005 issue)
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