MANILA, Philippines - Mikee Romero pursues his bid to acquire a PBA franchise as he is set to submit to the PBA office today the deed of assignment in his proposed purchase of the Powerade Tigers team..
The Sultan 900 Capital Inc., Romero’s holding company, has earlier submitted their corporate papers.
After having observed due diligence process, the PBA board decides on Sultan’s PBA entry in a special meeting Friday.
A reliable source, however, said Romero – a sportsman who’s into basketball, shooting and polo – is already assured of the needed two-thirds vote for the approval of his bid.
No less than new PBA board chairman Robert Non hinted at a positive vote.
“Mikee spends from P50-P80 million a season in the ABL and that’s for only six months. It only indicates that he can sustain a team in the PBA,” said Non during their planning session in Macau over the weekend.
And the fact that the board approved a three-conference format among 10 teams in the coming season is a strong indication the PBA is welcoming Romero with open arms.
“It would be ironic if the PBA becomes a nine-team league after announcing a banner season,” said PBA commissioner Chito Salud.
The 38th PBA season opens Sept. 30 most probably with a new team in Global Port (Sultan) and old team B-Meg playing under new banner San Mig Coffee.
A vote of disapproval would put the league in disarray, two days before the holding of the 2012 PBA Rookie Draft at Robinsons Place Manila on Sunday.
Sultan is buying Powerade lock, stock and barrel, meaning the new franchise would also acquire the Tigers’ rights for the 10th and 16th picks.
Powerade was No. 6 in the original draft order but it has yielded its first-round draft rights to Barangay Ginebra on a previous trade deal.
Salud said Romero is asking for concessions which the league chieftain refused to divulge. It could well be a rookie draft matter.
Meanwhile, the SMC teams conducted a rookie showcase at the Acropolis Gym in Pasig yesterday to give their coaches a glimpse of the draft hopefuls. Over 50 aspirants showed up.
Over at the Reyes Gym in Mandaluyong, Barako Bull star Willie Miller was reportedly seen practicing with the Alaska Milk Aces.