SLR Lot For Sale?

On: 21 March 2010

For Sale

The rumor started flying a few months ago when several key players were traded for practically nothing, but future draft picks. The rumor only died down when the team continued to compete unsuccessfully in the 2009-2010 PBA Philippine Cup. However, the rumor started to pick up again this week after another player who was recently signed to a maximum contract for three years was shipped in exchange for an unproven bench player.

The trade that sent Joseph Yeo of the Sta. Lucia Realtors for Bonbon Custodio of the San Miguel Beermen allegedly took place when the former found its coffers slowly depleted as a result of the on-going economic downturn. Not even the rabid lobbying by some team personnel could convince the principals on the financial viability of keeping their PBA stake intact.

Nothwitstanding all of these developments, the SLR management is still mum on the supposed initial negotiation with a top executive from another company to sell their right to the franchise. The prospective buyer represents one of the most establish companies in the country and was the key in making its owner one of the richest businessman in the region.

According to one source, "That's why this team wants to remain competitive because they want to keep the high value once it will be sold. This will give them a good reason to sell its franchise at a competitive price because they still have good materials on their squad."

The rumor was further fueled by an alleged statement of coach Boyet Fernandez in the official SLR site saying, "If this would be our last conference we will go out with all our heart's out. Again maraming salamat po sa support ninyo."

It can be recalled that before the end of 1992, Presto management announced the sale of its franchise. Before the 1993 PBA season started, the Sta. Lucia Realty bought the franchise rights. Sta. Lucia was considered as a new PBA team then, so therefore the past records and history of the Gokongwei franchise were not included in Sta. Lucia's history.

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