The Philippine Basketball (–foul word(s) removed–)ociation (PBA) Board of Governors approved the application of NLEX, Kia, and Blackwater as the newest member of Asia’s pay-for-play professional basketball league as an expansion franchise for the next season of the PBA.
Photo Credit: Interaksyon.com
The development in the PBA will coincide with the 40th anniversary of the league, considered as the pioneer professional basketball tournament not only in the Philippines but in the entire Asian region.
PBA Commissioner Chito Salud was quoted as saying during that announcement that “This is a momentous event for the PBA” the PBA Commissioner said. He added that that “Three expansion teams coming in for our 40th season. Nothing can be more exciting thant that. They have been informally verbally informed of their acceptance, formal acceptance will be given within the week” he said.
According the PBA, they set the franchise fee for the new applicants at P100 million. The league also required the companies to put up a performance bond by going to a third-party insurance company to (–foul word(s) removed–)s the value of the bond, which could cost as much as the franchise itself.
NLEX and Blackwater are considered as two of the top teams in the PBA Developmental League for the past few years while Kia has no team in any amateur league in the country.
The NLEX Road Warriors is a perennial champion in the PBA D-League and bankrolled by Metro Pacific, a part of MVP Group of Companies that already owned two PBA franchises, the Meralco Bolts and the Talk ‘N Text Tropang Texters.
Blackwater is under the management of cosmetics giant Ever Bilena, a company owned by Dioceldo Sy, the former chairman of the Philippine Basketball League.
Kia Motors, the only PBA expansion without a basketball team in amateur league is backed by Columbian Autocar Corporation, the exclusive distributor of the Korean car maker in the Philippines. The company is also a proud sponsor of the Philippine Azkals and the upcoming 2014 World Cup in Brazil.
