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Phoenix to buy Barako Bull?
MagicMan13Date: Tuesday, 2011-03-01, 4:16 AM | Message # 1
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MANILA, Philippines — The Philippine Basketball Association franchise of Barako Bull is up for sale. And it has a buyer.

This surfaced Monday after Barako Bull reportedly informed the PBA commissioner's office in a letter sent to Commissioner Chito Salud that it plans to sell its franchise and that a possible buyer is Phoenix Petroleum Philippines, Inc., a Davao-based oil distribution company which also sponsors the PBA's out-of-town games.

The PBA board reportedly will meet next month to specifically discuss this matter.

The possible sale of the Barako Bull franchise comes on the heels of a reported meeting between officials of San Miguel Corporation and Air21 last week during which the possible sale of the Air21 franchise to the food and beverage giant was the side topic from discussions.

Barako Bull is currently on leave from the PBA although its management announced that it plans to return to the fold in the next conference.

Many believed that will not happen as the franchise is in terrible financial condition. Such is Barako's sad state that its players were practically given away for free in a dispersal draft but got few takers.

Only Pong Escobal and Lordy Tugade were selected, while Marlou Aquino was later signed by his former team, newcomer Meralco Bolts, giving him a new lease on his PBA life.

Owned by businesssman George Chua, Barako Bull, also known as Red Bull, won three titles – two Commissioner’s Cup and one Fiesta Cup, all of which were won under coach Joseller ‘Yeng’ Guiao, who is now the mentor of Rain or Shine.

The Bulletin tried to contact team representative to the PBA board Raffy Casyao for confirmation but the calls were not returned.

This is not the first time the Barako Bull has been reported that it was up for sale. Last season, there were reports that negotiations between Meralco, owned by Manny V. Pangilinan, and the team bogged down, prompting Meralco to buy the Sta. Lucia Realty franchise.

Waylon Galvez, Manila Bulletin

 
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