LAS VEGAS - Northport and Terrafirma face similar fate heading to Season 50 of the PBA.
The Batang Pier now stand on the brink of being acquired by Pureblends Corp., while the Dyip are still up for sale despite staying on as part of the new season that kicks off on Oct. 5 at the Smart Araneta Coliseum.
The PBA Board tackled the state of both franchises during its annual planning session here at the MGM Grand on Wednesday (Manila time).
Chairman Ricky Vargas said Pureblends is now close to taking over Northport, adding it's just a matter of time before the Board give its approval to the official sale of the Batang Pier.
"Due diligence has begun and it may just happen anytime that this is close, and we may expect a new team in the PBA in the opening of the 50th season," said Vargas in the first day of the planning session.
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San Miguel Corporation has also gave way for the possible entry of Pureblends, which just like the country's giant food and beverage conglomerate, is also in the food manufacturing business.
"We thank San Miguel for allowing that as well because we have strict policy of not allowing competitors. And they allowed Pureblends to come in," Vargas added.
Meanwhile, despite twice failing to sell the Terrafirma franchise, the entire team remains on the market.
"We talked to Terrafirma management. They're committed to perform their best and they're committed to stay, but they also said that they are for sale," said Vargas.
Two potential buyers in Starhorse Shipping Lines and Zamboanga Valientes both failed to come to terms with Terrafirma management on the acquisition of the team.
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The league admitted there are still interested companies looking at acquiring the Dyip franchise, but remains cautious about it.
"Remember we have two interested applicants, but we have problems with submission of requirements. So we have to be a little more careful in vetting the companies that are interested to join the PBA," according to legal counsel Atty. Ogie Narvasa.
As negotiations fell through, Terrafirma decided to keep the team and compete in the coming new season.
New head coach Ronald Tubid selected young big man Geo Chiu as the Dyip's top overall pick in last Sunday's draft at the Mall of Asia Music Hall.(RG)
