Valientes’ entry still up in air
Philippine Basketball Association (PBA) commissioner Willie Marcial is keeping a wait-and-see attitude as the Zamboanga Valientes continue to engage in talks with the Terrafirma Dyip on the possible purchase of their franchise before next season.
“We can’t assure anything until they have submitted the requirements that we need, especially the financial aspect, and if the PBA board gives its nod,” Marcial said on Wednesday when he discussed negotiations between the Valientes and Terrafirma.
The Valientes came into the picture earlier in the week after Terrafirma’s deal to sell its franchise lock, stock and barrel to Starhorse fell through.
Valientes officials, led by owner Junnie Navarro, met with Marcial and Terrafirma governor Bobby Rosales as it formally submitted a letter of intent to be a part of the PBA.
“Junnie’s really aggressive in wanting to get this deal done,” said Marcial.
Should Terrafirma and the Valientes come to terms, the deal will require at least a two-thirds approval from the board for it to be sealed.
Converge in 2022 was the last company to buy a franchise when it took over the fabled Alaska Aces.
