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June 10th, 2010 08:37 AM #1Meralco to acquire Sta. Lucia franchise
http://www.manilastandardtoday.com/i...&d=2010/june/9
Meralco to acquire Sta. Lucia franchise
by Ronnie Nathanielsz
THE Manila Electric Co. is in the final stages of negotiations to acquire the Sta. Lucia Realty franchise and will join the Philippine Basketball Association when the new season opens in October.
An official announcement on the return of Meralco to the PBA, expected to give the pro league a shot-in-the arm in the wake of dwindling attendance and poor TV ratings, except when the more popular teams such as Barangay Ginebra, Purefoods and San Miguel Beer play are playing, is expected to be made before the ongoing Fiesta Conference semifinals..
Sta. Lucia Realty team manager Buddy Encarnado, who has been one of the most passionate supporters of basketball for decades and was involved with the national team years ago, will remain with the sport, following plans to appoint him as Commissioner of the PBA’s planned Developmental League (D League).
Meralco was one of the pioneers of the now defunct Manila Industrial and Commercial Athletic Association, which disbanded in 1975 after an exodus by team owners, who formed the PBA with the late Leo Prieto as its first Commissioner.
The first public indication of Meralco’s interest to return to the PBA came after businessman-sportsman Manny Pangilinan acquired majority ownership of Meralco and its chairman Manuel Lopez told the company’s annual stockholders meeting that the country’s largest power distribution firm planned on forming a team that would compete in the pro league.
“There are plans. We are negotiating to acquire a basketball team. It is in a delicate stage, it’s still in its very raw stage, but definitely there is interest,” Lopez was quoted as saying.
That interest has apparently been given substance, with Meralco assuming the place of Sta. Lucia Realty and providing a touch of nostalgia and competitive spirit to the PBA.
“There would be no pass through with the purchase of a basketball team, there would be no burden to the consumers. It will be absorbed by the shareholders,” Lopez added.
The Meralco team was disbanded in 1971 after its players Robert Jaworski and Big Boy Reynoso mauled referees Dr. Ting Cruz and Jose Obias, alleging that they willfully disadvantaged Meralco and favored Crispa.
Jaworski and Reynoso were banned for life but after some years the ban was lifted.
How do we ensure na talagang hindi ma pass on yung cost?
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June 10th, 2010 08:53 AM #2
^^^ Iyan ang malaking katanungan.... Saan kayang item papasok ito?....
10.1K:mop:
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June 10th, 2010 09:48 AM #4
Hehe si Jawo nang gulpi ng ref, naalala ko yung liga dito sa barangay namin..
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June 10th, 2010 10:25 AM #5I don't know what benefit will Meralco get from joining the PBA.
On the other hand, I also am not sure they can increase attendance to PBA games.
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June 10th, 2010 11:52 AM #6
Meh.
Compared to the millions spent each month on TV, newspaper and other advertising... the PBA isn't going to be such a big drain on Meralco's multi-billion peso operation.
Ang pagbalik ng comeback...
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June 10th, 2010 11:52 AM #7
tsk tsk.. pass on to customers cost nyan. meralco pa. kesyo mataas daw bili ng kuryente nila etc etc
anong tawag sa basketball players nila? meralco electricians? electricmen?
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June 10th, 2010 12:33 PM #9kaya nga eh.. they already spend on advertising and promotions.... may foundation pa nga (i wonder if it is meralco that's funding the foundation or benpres)... do they see a potential revenue source in PBA merchandise? revenue from share of gate receipts? will these revenue help in keeping the rate of return they seek for in such a way that their distribution costs can be kept down?
prestige lang talaga?
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June 10th, 2010 01:12 PM #10tama lang yan. sobra daming foreign investors want to take over meralco. chinese, japanese, american, korean by way of some of our politicians. pag ginawa nila maging all-filipino na talaga meralco. dapat naman eh, magaling yun bago presidente nila ngaun
Buhay na buhay ang BGC this evening. Bukas halos lahat ng restaurants. Sabi pa nung isang cashier...
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