A Filipino To Buy Sacramento Kings Franchise

A Filipino To Buy Sacramento Kings Franchise

Wow! This could be a great opportunity for all aspiring Filipino basketball players to play in the NBA and rubbing elbows with Kings players like 6-11 rookie DeMarcus Cousins, 6-9 Omri Casspi, 6-6 Tyreke Evans and 6-4 Marcus Thornton. Unfortunately, Sacramento Kings are ranked 26th of 30 NBA Teams this season.

This sports-minded Filipino businessman really have an intention to buy a stake in Sacramento Kings. According to a realiable source, included are plans to put a Filipino coach in the team and a couple of players. If this plan pushes through, then this is the surest way a Filipino can get into NBA and the decision will be in two months after Kings asset is checked.

He is no other than Mr. Manny V. Pangilinan or (MVP) – currently bankrolled the Smart Gilas National Team, recent PBA All-Filipno Champs Talk N Text Phonepals, Multi-titled Ateneo Eagles and San Beda College.

A Filipino To Buy Sacramento Kings Franchise

Company Ownership:

• -PLDT
• -Associated Broadcasting Company (TV5)
• -Smart Communications
• -ePLDT Ventus Inc.
• -Meralco
• -Stradcom International Holdings Inc.
• -Cure Inc. (Connectivity Unlimited Resource Enterprise, Inc.)(RED MOBILE)
• -San Beda College
• -First Pacific Company Ltd.
• -Cignal Digital TV
• -Pilipino Telecommunication Corporation (Piltel) (TALK N’ TEXT)
• -First Pacific Tollways Corporation
• -Metro Pacific Investments Corporation
• -Manila Metro Rail Transit System
• -Digitel (SUN Cellular)

At first, the text message hardly caught my attention.
“Do you know that MVP (Manny V. Pangilinan) is going into the NBA?” the message read.
I rubbed my eyes to see if I was reading the letters right.
“NBA? For TV5 or for IBC 13?” I texted back. To my knowledge, IBC is now MVP property, the reason why the PBA D-League is being aired in that channel.
“Are you trying to tell me that MVP wants to acquire the rights to the NBA telecast?”
I told him, in case he still didn’t know, that Solar Entertainment currently owns the telecast rights to the NBA games which are aired on Basketball TV and ABS-CBN’s Studio 23. I also told him that I had no idea when the contract will expire.
I didn’t know that MVP was interested in the NBA, but maybe he was planning to have the games on Channel 13 which, I heard, will be a sports and news channel.
* * *
The guy said he was not referring to the TV coverage of the world’s most popular basketball league.
“MVP is planning to buy into the franchise of the Sacramento Kings. There are other interested parties, but the Kings management decided to offer it first to a Filipino businessman because they know of the Filipinos’ passion for basketball. MVP is seriously interested in the offer,” he said.
Now he got my full attention. I was having dinner with my family at the time my source touched base, but I had to push my half-eaten meal aside to process the information I had just received.
“No kidding?” was all I could manage to say. It was too good to be true. “No fooling please, April Fool’s day is long over!”
* * *
I never got back to my unfinished meal. I got to work immediately to confirm the report I got from out of the blue.
From subsequent information I gathered, I found out that the Sacramento Kings representatives came to Manila recently, bringing with them a complete financial portfolio which they presented to MVP.
“The balance sheet and the cash flow looked good,” according to MVP’s financial advisers, the initial investment coming down to a ballpark figure of about $260 million, give or take a few millions.
And the ROI? “How great are the risks of going into the NBA business?” I asked.
My source, a sports VIP, said MVP could expect some gains.
“The Sacramento Kings franchise is a corporation and MVP will come in as a partner. He will of course aim for majority stakes,” said the sports VIP.
If ever the deal pushes through, this will be the first time that an NBA franchise will be owned by an Asian.
This may also be the first time that a Filipino player will don an NBA jersey
* * *
“Yes, indeed. If this deal pushes through, the Filipinos may see some of their wildest dreams coming true in this lifetime,” said the sports VIP.
As I write this, it is not far-fetched that MVP and his sports group may be animatedly discussing the possibilities. He could sit down with the Kings board to haggle for a Filipino assistant coach or for transfer of technology and a Filipino player or two in the team. After all, he owns it.
By now the Sacramento Kings representatives have returned to the California capital.
Logically, the next move would have to come from MVP’s group, I presume.
Perhaps MVP’s group will have to fly to Sacramento to inspect the assets.
A business lawyer told me that if and when MVP decides to buy into the NBA franchise, he will first have to sign a nondisclosure agreement, which means none of the parties can publicly disclose the contents of the sale–or whatever is unearthed during the due diligence.
MVP is expected to decide within the next two months.

A Filipino To Buy Sacramento Kings Franchise