Tan seals P50-M deal for SEAG

A shining silver from Lucio Tan.

The Lucio Tan Group yesterday formalized its sponsorship of next month’s SEA Games by signing a P50 -million contract with the Philippine SEA Games Organizing Committee.

Domingo Chua, marketing director of Himmel Industries, which is part of the LTG, signed the contract with Philsoc president and chief executive officer Jose Cojuangco.

Chua described the LTG sponsorship of the Games as a "noble gesture." He said the P50 million is there to help make it all happen.

The signing of the sponsorship package comes 47 days away from the Games and at a time when Philsoc seems to be falling short of the needed P1 billion budget.

During the contract signing at the Century Park Hotel, Philsoc officials wore happy faces although observers saw otherwise. Philsoc had expected P100 million from the LTG.

Even months before, Philsoc had announced that Lucio Tan, the business tycoon, had agreed to a P100 million sponsorship which falls into the former’s gold package.

The silver package is worth P50 million while the bronze is worth P30 million or less. Globe and PLDT now remain as the only golden sponsors of the Games.

Tan’s sponsorship, like the rest, is product based or service oriented, and not purely a money component. But there are some who have agreed to provide both.

"Gumaganda ng gumaganda pero huwag natin lagyan ng figures. I’m very confident na mako-cover natin lahat," said Cojuangco, also the Philippine Olympic Committee president.

But during a short speech, Cojuangco expressed his wish to have gotten more from the LTG. He said he would continue to sit down with LTG officials and ask for some more.

"I don’t mind saying it here," he said over the microphone, "pero mayroon pa akong hihingiin na dagdag. Hindi pa tapos ang kontrata namin," he said, eliciting laughter in the room.

Cojuangco described the LTG as just "some of the people you can turn to when the prestige and honor of the country is at stake, and glad to give such assistance."

Before a group of sportswriters, Cojuangco fielded almost every question that had to do with Philsoc and that despite all the difficulties, he still manages to sleep well at night.

"Okay pa. Umiinit na lang ang ulo ko paminsan-minsan," he said.

Then he was asked to comment about the basketball controversy, and the big possibility of the sport being scrapped from the SEA Games calendar, and he turned sour.

"Ay naku," said Cojuancgo as he walked out on the scribes.