NLEX’s move to buy franchise backed

If and when NLEX, owned by Metro Pacific Investment Corp. (MPIC), turns to be successful in purchasing an existing PBA team, it appears that getting approval from the PBA Board of Governors will not be a problem.

A few team officials, who are members of the board, hinted yesterday that they would not stand against the sale of an exiting franchise to another private company like NLEX, which needs the required two-thirds vote from the board for the transfer of team to get approval.

Former PBA board chairman, Atty. Mamerto Mondragon of Rain or Shine, is one of the vocal officials who expressed that he will give his vote of approval to the sale of a current member team to NLEX.

“If that’s what’s going to happen, that NLEX will instead buy an existing franchise, Rain or Shine will not oppose it. We’ll support the sale,” said Mondragon in a phone interview by the Bulletin. Two other board members also shared their respective views, and they said they would also approve the sale. Both, however, requested not to be named since there is no announcement yet which PBA team NLEX will purchase.

“I don’t see a problem,” said a board member. The other board member said that the team governors should still have to listen what is the reason behind the sale, but suggested that even if it comes to a vote, he said the board would eventually approve the purchase.

“We’ll still see what’s on the table,” the source said.

Last Monday, the second deadline asked by NLEX to decide on its PBA plans, the company informed the PBA Commissioner’s Office that it will instead pursue the purchase of an existing team rather than having an expansion ball club that was earlier approved by the board. (Waylon Galvez)

What do you think?

Written by Johnny Lugay

Derrick-Barbie chances for romance nil

PBA: Talk ‘N Text routs Barako Bull