That’s the amount Kenneth Duremdes will get in actual pay in the next eight years as the 1998 Most Valuable Player awardee signed yesterday the richest deal ever made in the Philippine Basketball Association.
After making all the denials of an impending offer sheet to Duremdes, Mobiline did tender a very lucrative one and the ace cager didn’t hesitate to affix his signature on the paper, making him the newest member of the elite club of players earning P.5 million a month in the league. The difference is that Duremdes will be paid of the amount in the longest period of time.
"Wala na siguro akong kasing saya dahil lahat ng hardwork ko nagbunga na rin sa wakas. Malaki ang dapat kong ipasalamat sa Diyos," said Duremdes after signing the offer sheet that also guarantees him millions more in bonuses.
Mobiline team manager Frankie Lim said they will forward the offer sheet to the PBA office today. Alaska has five days to match it so it can keep Duremdes.
Alaska team owner Wilfred Steven Uytengsu said they will definitely match the offer sheet if they don’t see any violation in the salary cap.
"I’d like to see the terms and condition of the offer sheet first. If no item violates the salary cap rule, we will match it as what I’ve been saying all along," said Uytengsu.
Told of the possible Alaska retention of his services, Duremdes said: "Wala tayong right tumanggi. Trabaho ito as a professional player. Di pa ako magbabago sa outlook ko sa laro."
"Kahit saan mapunta si Kenneth, ma-swerte siya," said Lim.
Earlier, Mobiline dangled a seven-year, P42 million offer to Duremdes but the team backed off when told that Alaska would match it.
The P48-million deal between Duremdes and Mobiline was the largest ever consummated in the league, topping the 30 million pacts of Jun Limpot and Marlou Aquino. Actually, Tanduay offered Aquino a P90-million deal in 12 years but the 6-for-9 settled for a five-year pact with Sta. Lucia.
Meanwhile, Michael Hrabak, the second pick overall in this year’s PBA Annual Draft, finally showed up yesterday and made good impression as the Fil-Am cager joined the Shell Zoom Masters in practice at the Green Meadows gym.
Shell team manager Bobby Villarosa said they will prepare an offer for Hrabak before the end of the week even as Red Bull and Willie Miller, the top draft pick, are expected to come to terms in their first official negotiation this afternoon.
Villarosa said Hrabak impressed the Shell coaching staff and this could be one vital sign that everything will fall into place for the Zoom Masters in the near future.
Shell took in Hrabak probably in preparation for the near retirement of long franchise player Benjie Paras.
Paras, incidentally, is still without a new contract although there were words that the two-time MVP awardee is close to coming to terms with the ballclub which he has served all throughout his professional career.
Meanwhile, Miller is set to meet with Red Bull owner George Chua and team manager Tony Chua today with the former Letran ace to ask for a three-year contract that would start at something like P250,000 to P300,000 a month.