TANDUAY PAYING MILLIONS TO JOIN PBA
Manila, July 31, 1998 - Only one thing stands between Tanduay and a Philippine Basketball Association franchise: the peso value of a PBA team.
The last time the league took in new teams was in 1990, when Pepsi and Pop Cola coughed up P1.2 million each for the privilege and prestige of joining the PBA. The price went up to P1.5 million when Sta. Lucia bought the CFC franchise in 1993.
PBA sources say the amount could go way, way up for Tanduay. The prestigiouss accounting and autditing team Sycip, Gorres and Velayo has been retained by the PBA to determine the price it coould charge for the Tanduay franchise. Factored in to the price formula will be the media mileage the product/firm gets from its team's exposure during games.
PBA sources said the SGV will complete its study in two weeks.
Tanduay is bringing in the core of their PBL championship squad, including MVPs Eric Menk, Christopher Cantonjos and Mark Clemence Telan. Tanduay could also get from the rookie free agents where the possible picks would be Rhum Kings Bobby Jose and Roel Bravo. The team may likewise choose from an expansion pool to be supplied by all existing teams after protecting eight players.
Reported by: Sol Jose Vanzi
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