Thus announced Philippine Basketball Association (PBA) chairman Ignatius Yenko today as both Tanduay management and Chua and Esguerra reached an agreement on the unsettled contracts.
Yenko was tasked by the PBA Board in its meeting last Monday to mediate between the parties and resolve the controversy.
"I am happy to announce that the issue between the two parties has been resolved amicably. Messrs. Chua and Esguerra have agreed to formally withdraw their complaint lodged with the Commissioner’s Office. In turn, Tanduay management agreed to a fair and just settlement," Yenko said.
The PBA chairman was assisted by Sta. Lucia governor Buddy Encarnado.
"Both sides were most cooperative in seeing to it that a resolution was arrived at, in a just and timely manner. I thank Tanduay management for its open-mindedness and continuing efforts to preserve harmony and unity within the PBA family and appreciating the league’s interests. "
I also thank the coaches for their flexibility and understanding in awaiting the results of the negotiations," Yenko said.
"I hope we can put this issue to rest now and move forward for the good of the entire league," he added.