Not necessarily, as it depends on the negotiations between the buyer and the old franchise holder, please note the facts below:Originally Posted by Alex07
While buying an existing franchise may cost less, Eala said there are advantages to purchasing a new franchise even if it is more expensive. For one, the PBA offers terms to pay for a new franchise. If the value of a franchise is P60 Million, the league is willing to give the buyer a period of five years within which to settle the amount. Buying an existing franchise may not allow terms and will likely be on a cash basis. For another, a new franchise may be given concessions or incentives like elevating a maximum of three players from the amateur ranks without going through the draft and choosing veteran players in an expansion draft. Another concession will be to use a salary floor equivalent to P18 Million a year when a team is required a payroll of at least 75 percent of the P30 Million cap or P22.5 Million.People's Journal said that turnover was approved between P30-40 million, a big drop from the original P60 million the Turbo Chargers wanted The Manila Times, however, reported that it was close to P55 million that Shell wanted. Welcoat put out P60 million as bond for five years, P7 million for participation fee and another P6 million for transfer fee.After the 2001 season, the firesale began as Tanduay traded Dondon Hontiveros to San Miguel, Jeffrey Cariaso to the new Coca Cola, and Menk to Barangay Ginebra. After this, Tanduay sold its franchise to the Bert Lina and the local franchisee of FedEx for a reported sum of PHP 60-75 million.Crispa wanted to rejoin the PBA in 1989 but his P300,000 franchise fee offer to Commissioner Rudy Salud was turned down most probably because Floro couldn't make a long term commitment. One of the crucial factors why Floro wanted to rejoin the league was because at that time, Atoy Co wasn't given a contract extension by his mother team Great Taste forcing him to retire from the play-for-pay league. Likewise, Philip Cezar was inked to a paltry one year contract by the Coffeemakers while Freddie Hubalde was struggling to get some playing time with Formula Shell. Abet Guidaben, on the other hand, was just signed up by Alaska.
Saturday - Sunday, December 13 - 14, 2008
San Miguel Beer walking wounded
By Rey Joble
HAVE we seen the last of the Danny Ildefonso and Danny Seigle in the Philippine Basketball Association?
Ildefonso, a two-time Most Valuable Player, and Seigle, a former Rookie of the Year, have been the face of San Miguel Beer’s dynasty in the PBA. This time around, the old reliables are no longer there either to start the game or finish the job for coach Siot Tanquingcen.
Ildefonso had bone spurs removed from his feet and is still undergoing therapy. He will come back and play next year.
Seigle has an injured back that requires him to sit out the conference. Both players have yet to see action this season.
But the soft-spoken Tanquingcen isn’t bothered at all with the young guns doing a great job in stepping up in the absence of their veterans.
“We’re just peaking at the right time,” said Tanquingcen. “I guess the chemistry is already there.”
But Tanquingcen expects Seigle to be back in six weeks’ time.
Without the two, the Beermen went on a rebuilding stage and loaded their already formidable lineup with superstars like Mick Pennisi and Jay Washington, who were acquired in the off-season. They also took in Bonbon Custodio in the rookie draft.
They joined Lordy Tugade, Dondon Hontiveros, veterans Olsen Racela and Dorian Peña, and Froilan Baguion, the team’s latest acquisition.
Baguion, who was released by Coca-Cola last week to accommodate veteran guard Rodney Santos, made a good impression in his first game as a Beerman.
“I’ve been keeping an eye on him ever since when he was still playing in the PBL and I know his capabilities. It also came at a perfect time as we need to shore up our backcourt and he delivered in his first game,” said Tanquingcen.
Ranidel De Ocampo was traded to Talk n Text in exchange for Don Carlos Allado. Ranidel will be reuniting with his brother Yancy, this was according to NBN Sports.
Boxing is the art of hitting "HARD" and not being hit
does this trade makes sense?Originally Posted by Sakamoto
You've got to have it to win it