Raymundo inks P9.2 million pact under new wage ceiling

WUHAN – Kerby Raymundo became the first player to benefit from the wage hike formulated and approved by the PBA board of governors as he signed a two-year contract extension deal with B-Meg guaranteeing him a pay of P420,000 a month in the 2012-13 season.

“(B-Meg team manager) Alvin Patrimonio just called up, informing me of the signing,” said B-Meg governor Rene Pardo, among PBA officials who flew in here to support Smart Gilas Pilipinas’ campaign in the ongoing 26th FIBA Asia Championship.

“Negotiations took a while to finish as Kerby wanted to get the new maximum for the next two years. We told him ‘wait, let’s see how he fares first this season (coming from injury),’” Pardo said.

The two parties agreed to a P9.24-million deal for two years with Raymundo to get the old maximum of P350,000 per month in 2011-12 then an increase of P70,000 a month in the next campaign.

The board approved a new wage and bonus scheme in its most recent meeting a few days back.

Unable to take advantage of the new scheme are star players like Mark Caguioa, Eric Menk and Gabe Norwood, who have signed new contracts before the board passed the wage hike proposal of commissioner Chito Salud.

Salud, board chairman Mamerto Mondragon, vice chair JB Baylon, treasurer Robert Non, Talk n Text’s Patrick Gregorio and PBA media bureau chief Willie Marcial also came here to cheer for the Nationals in their games versus Jordan and Japan on Monday and Tuesday, respectively.

They flew back to Manila yesterday morning. Baylon and Gregorio, however, are set to return here tomorrow.

Pardo said the Llamados are upbeat on their chances in the upcoming season with Raymundo, Rico Maierhofer and Rafi Reavis back from injuries. They’re also excited to play under new coach Tim Cone.

“The team is a joy to watch even in practice. The starting five and the second unit are well balanced. They compete in practice,” said Pardo.