MANILA, Philippines - The PBA board unanimously approved Phoenix Petroleum’s take over of the Barako Bull team, paving the way for the fuel corporation’s entry to the league after a long five-year wait.
Unsuccessful in its bid in 2011, Phoenix finally got the nod of the PBA board to assume ownership of the Barako Bull team lock, stock and barrel for no less than P100 million.
“The board unanimously agreed that Phoenix Petroleum is financially capable of maintaining a team in the PBA. The board didn’t have a hard time coming to that decision,” said PBA board chairman Robert Non.
Officials of Phoenix Petroleum will be invited to attend as the PBA board holds its regular monthly meeting next Thursday.
“We would inform them of the necessary undertakings, and we’ll take a look at the deed of sale,” said Non.
In Barako Bull, Phoenix has got a team that is already organized with a complete coaching staff and a roster that made the quarterfinals of the current PBA Philippine Cup.
Head coach Koy Banal is guaranteed of a contract up to the end of the 2015-16 season. He has at his disposal Willy Wilson, RR Garcia, JC Intal, Josh Urbiztondo, Mick Pennisi, Jervy Cruz, Jeric Fortuna, Eman Monfort, Chico Lanete, Rodney Brondial, Mac Baracael, James Forrester, Prince Caperal and Denok Miranda.
“All present contracts at Barako will be absorbed by the new owner,” said Non.
Phoenix will be officially welcomed to the PBA fold in the 2016 Commissioner’s Cup that fires off Feb. 10.
Ahead of its PBA participation, the Dennis Uy-owned fuel corporation is making its debut in the PBA D-League, also carrying the banner of Phoenix.
Composing Phoenix’s team in the D-League are the recently crowned UAAP champs FEU Tamaraws.