Starhorse's PBA Franchise Acquisition Stalls Due to Unmet Requirements
Source: news.source.mb
Starhorse, a shipping company based in Lucena City, has hit a snag in its bid to acquire the Terrafirma franchise in the Philippine Basketball Association (PBA). Despite initial agreements and a letter of intent submitted in February, Starhorse has failed to meet the necessary requirements to finalize the acquisition, causing the process to stall.
Key Points
Starhorse submitted a letter of intent to buy Terrafirma's franchise in February.
Both parties had agreed in principle for the sale, with Starhorse planning to take over by the next season.
The acquisition process has stalled because Starhorse has not met the PBA's requirements despite being given ample time and reminders.
The PBA has not commented officially but is expected to make an announcement soon.
