The team management eventually came to terms with draftee Reynel Hugnatan and may sign the contract together with those of veterans Jeffrey Cariaso, Ato Morano, Estong Ballesteros and Chris Bolado today.
At FedEx, the Express shored up their backcourt rotation by signing free agent Gherome Ejercito to a P3-million pact for two years. The former Adamson Falcon, who played for Sta. Lucia Realty last year, is to get P100,000 a month this year and P150,000 next year.
At Purefoods, team manager Rene Pardo denied reports (not in The STAR) they have closed deals with Boyet Fernandez and Richard Yee although he said they’re close to making them.
Pardo also said Jenkins Mesina and Marc Victoria will be given short-term deals while Yee is still recovering from an ankle surgery.
Because of the salary cap constraints, Coca-Cola could only give Hugnatan, the eighth pick overall in the recent draft, a P3.4 million deal in two years. Sweetening the deal is the option to renegotiate should the player is able to play well in the 2003 campaign.
Coca-Cola is neck-deep in the pay cap with the ballclub having two players in Rudy Hatfield and Poch Juinio getting a maximum P.5 million monthly pay and two others in Cariaso and Johnny Abarrientos also receiving significant amount.
Coca-Cola coach Chot Reyes said Cariaso, whose old contract expired last Dec. 31, will be given the maximum pay in the next three years under the new pay cap scheme.
Named Player of the Conference in last year’s All-Filipino Cup, Cariaso will get a P13.2-million package with a monthly pay of P400,000 this year and P350,000 in 2004 and 2005. The Busan Asian Games veteran is allowed to get more than P350,000 – the new individual pay cap – this year.
Reyes again denied reports (not in The STAR) that Cariaso signed a P14-million contract-renewal before leaving for Hawaii for a short vacation.
The 2002 Coach of the Year awardee also said Ballesteros and Morano will sign two-year deals and Bolado a one-year pact.
Ballesteros agreed on a pay cut while Morano is given the maximum increase allowed under the new cap rule. With a 50-percent increase, Morano will get P140,000 a month in his new pact.
"We’re tight on the pay cap but despite our limitations, we gave the players the best they could get," said Reyes.
Coca-Cola is yet to work on Rafi Reavies’ new contract as the Fil-Am forward still out of the country.
Hugnatan, a former University of Manila Hawk who played for the Negros Slashers in the MBA, will be paid P130,000 a month this year and P150,000 next year.
The 6-foot-4 forward earlier sought the same deal No. 10 pick Jimmy Alapag (reportedly around P8 million in three years) got from Talk N Text. But he relented, realizing he could no longer get any better deal with Coca-Cola.