Wednesday, April 02, 2008 BAP-SBP patrons back Pangilinan
AFTER having been shoved into the middle of controversies surrounding the basketball community in the country, the top backers of the junior basketball program released a statement yesterday.
Tao Corporation and Nokia, the companies that had pledged a whooping P80 million worth of support to the BAP-Samahang Basketbol ng Pilipinas’ (BAP-SBP) program aiding the training of junior players, was mentioned in the word war between two basketball bodies—BAP-SBP and Basketball Association of the Philippines (BAP).
BAP chairperson Luis Villafuerte, a congressman, had commented on the leadership of BAP-SBP, particularly its president, communication mogul Manny Pangilinan.
Villafuerte had alleged that Pangilinan had “formed another corporation as the beneficiary of the funding assistance of Tao Corporation to the prejudice of BAP-SBP.”
This was one of the points raised by Villafuerte that had incensed Pangilinan, prompting him to answer the letter. “I resent your insinuation that the funds are diverted for a purpose other than the National Basketball Youth Development,” Pangilinan had said, adding that the explanation that the funds that was coming from Tao is well-accounted for and disbursed on a monthly basis with all the required documentations.
“I have read in the papers today about the unfair accusations against Mr. Pangilinan. I would like to reiterate Tao Corporation’s total support on his leadership and vision. I hope he will not be discouraged by the selfish motives of others,” said Tao Corporation president Jun Sy.
Sy also said that he is willing to show evidence of the clean negotiations between them and BAP-SBP.
“Let me know how I can help in confirming that all the funds from Nokia and Tao Corp. have been handled with full transparency and the highest professional standards,” added Sy in a text message to BAP-SBP executive director Patrick Gregorio.
The transactions among BAP-SBP, Tao Corporation and Nokia require dual signatories. All parties need to be represented before transactions are completed. (MCB)
