120 cagers avail of trust fund — PBA
November 14, 2002 | 12:00am
A total of 120 active and retired players have benefited from the PBA Players trust fund which has a current balance of P13.7 million even as the pro league allayed fears expressed by some of the cagers that part of the funds might have been misused.
The PBA Commissioner’s Office yesterday furnished The STAR a copy of the trust fund report, showing 44 players had availed themselves of complete benefits while 76 are currently enjoying its benefits by sending their children to some of the best schools in the country.
Among the prestigious schools the children of the active and retired players have studied or currently enrolled are the International School, Ateneo, La Salle, Miriam, UST, St. Paul, St. Scholastica, Xavier, St. Benilde, San Sebastian and others.
"The players can come anytime here in the office and check the trust fund. They’re always welcome," said PBA executive director Sonny Barrios stressing the fund is intact and accounted for contrary to allegations made by some players.
PBA accountant Odessa Encarnacion said the trust fund has a current balance of P13,101,886.96 in its UPBC-Acropolis time deposit account and P643,039.91 in its Equitable-PCI-Galleria savings account.
PBA commissioner Jun Bernardino said about 40 to 50 players have avail themselves of the benefit yearly and this amount to a total of more or less P1 million. "Kung nawawala ito (the trust fund), dapat nawala na rin ako dito," said Bernardino while gracing the PSA Forum Tuesday.
League officials have reacted sharply after some players insinuated part of the trust fund might have been misappropriated in a meeting last week at Edsa Shangri-La Plaza.
One player was quoted as saying: "Hindi namin alam baka may pinagaaral na kaming anak ng ibang tao."
The meeting was set in a move to revive the Players Union after the league has decided to reduce the salary cap of the players and to look into the entry of Fil-foreign players into the PBA.
Barrios said practically all the retired players had availed or still availing themselves of the benefit except former player-coach and now Senator Robert Jaworski.
"There’s Ramon Fernandez, Philip Cezar and even players abroad like Francis Arnaiz and deceased ones like Larry Mumar," said Barrios.
The trust fund report shows Fernandez getting P93,071.77 for the tuition fees of his children. The four-time MVP, who had played 20 seasons, has received P185,415.97 for three sons in the last three years alone.
Cezar’s son John Philip graduated from La Salle last year through the trust fund. The former great Crispa player has another son now enrolled in high school also courtesy of the trust fund.
Joel Banal, meanwhile, took advantage of the funds to help defray his expenses in taking up an MBA course at the Asian Institute of Management (P300,000). Former union president Fritz Gaston also gained an MBA degree through the players’ fund in the 80s.The trust fund was established during the time of commissioner Leo Prito who provided a seed fund of P100,000. It is controlled by a board of trustees composed of the league board chair, the secretary, the commissioner and two players, who incidentally are Alvin Patrimonio and Jojo Lastimosa, at the moment.
Players who have played at least two years in the league are eligible for the benefits — based on the number of their playing years.
Other players with children supported by the players’ fund this school year are Bogs Adornado, Josel Angeles, Joy Carpio, Rey Cuenco, Harmon Codiñera, Atoy Co, Ed Cordero, Mon Cruz, David Cezar, Alex Clarino, Ely Capacio, Ramon dela Cruz, Botchok delos Santos, Ed Ducut, Dante Gonzalgo, Abet Gutierrez, Pido Jarencio, Abe King, Yoyong Martirez, Marcelino Cecilio, Bennet Palad, Rolly Pineda, Romulo Palijo, Romeo Lopez, Rudy Lalota, Etok Lobo, Frankie Lim, Ricric Marata, Monico Martinez, Roberto Poblete, Floreno Ritualo Sr., Melchor Ravanes, Johnny Revilla, Ricky Relosa, Vic Sanchez, Amadeo Sagarbarria, David Supnet, Al Solis, Tony Torrente, Oscar Tuason, Itoy Esguerra, Bernard Fabiosa, Rey Franco, Abet Guidaben, Manny Victorino and Yoyoy Villamin.
The PBA Commissioner’s Office yesterday furnished The STAR a copy of the trust fund report, showing 44 players had availed themselves of complete benefits while 76 are currently enjoying its benefits by sending their children to some of the best schools in the country.
Among the prestigious schools the children of the active and retired players have studied or currently enrolled are the International School, Ateneo, La Salle, Miriam, UST, St. Paul, St. Scholastica, Xavier, St. Benilde, San Sebastian and others.
"The players can come anytime here in the office and check the trust fund. They’re always welcome," said PBA executive director Sonny Barrios stressing the fund is intact and accounted for contrary to allegations made by some players.
PBA accountant Odessa Encarnacion said the trust fund has a current balance of P13,101,886.96 in its UPBC-Acropolis time deposit account and P643,039.91 in its Equitable-PCI-Galleria savings account.
PBA commissioner Jun Bernardino said about 40 to 50 players have avail themselves of the benefit yearly and this amount to a total of more or less P1 million. "Kung nawawala ito (the trust fund), dapat nawala na rin ako dito," said Bernardino while gracing the PSA Forum Tuesday.
League officials have reacted sharply after some players insinuated part of the trust fund might have been misappropriated in a meeting last week at Edsa Shangri-La Plaza.
One player was quoted as saying: "Hindi namin alam baka may pinagaaral na kaming anak ng ibang tao."
The meeting was set in a move to revive the Players Union after the league has decided to reduce the salary cap of the players and to look into the entry of Fil-foreign players into the PBA.
Barrios said practically all the retired players had availed or still availing themselves of the benefit except former player-coach and now Senator Robert Jaworski.
"There’s Ramon Fernandez, Philip Cezar and even players abroad like Francis Arnaiz and deceased ones like Larry Mumar," said Barrios.
The trust fund report shows Fernandez getting P93,071.77 for the tuition fees of his children. The four-time MVP, who had played 20 seasons, has received P185,415.97 for three sons in the last three years alone.
Cezar’s son John Philip graduated from La Salle last year through the trust fund. The former great Crispa player has another son now enrolled in high school also courtesy of the trust fund.
Joel Banal, meanwhile, took advantage of the funds to help defray his expenses in taking up an MBA course at the Asian Institute of Management (P300,000). Former union president Fritz Gaston also gained an MBA degree through the players’ fund in the 80s.The trust fund was established during the time of commissioner Leo Prito who provided a seed fund of P100,000. It is controlled by a board of trustees composed of the league board chair, the secretary, the commissioner and two players, who incidentally are Alvin Patrimonio and Jojo Lastimosa, at the moment.
Players who have played at least two years in the league are eligible for the benefits — based on the number of their playing years.
Other players with children supported by the players’ fund this school year are Bogs Adornado, Josel Angeles, Joy Carpio, Rey Cuenco, Harmon Codiñera, Atoy Co, Ed Cordero, Mon Cruz, David Cezar, Alex Clarino, Ely Capacio, Ramon dela Cruz, Botchok delos Santos, Ed Ducut, Dante Gonzalgo, Abet Gutierrez, Pido Jarencio, Abe King, Yoyong Martirez, Marcelino Cecilio, Bennet Palad, Rolly Pineda, Romulo Palijo, Romeo Lopez, Rudy Lalota, Etok Lobo, Frankie Lim, Ricric Marata, Monico Martinez, Roberto Poblete, Floreno Ritualo Sr., Melchor Ravanes, Johnny Revilla, Ricky Relosa, Vic Sanchez, Amadeo Sagarbarria, David Supnet, Al Solis, Tony Torrente, Oscar Tuason, Itoy Esguerra, Bernard Fabiosa, Rey Franco, Abet Guidaben, Manny Victorino and Yoyoy Villamin.
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