New Bidders Emerge for Terrafirma PBA Franchise as Starhorse Deal Falls Through
Source: news.source.mb
The Philippine Basketball Association (PBA) is now engaging with three new potential buyers for the Terrafirma franchise after the initial deal with shipping company Starhorse collapsed due to non-compliance with PBA requirements and unmet terms in separate negotiations with Terrafirma. Two of the interested companies have already submitted Letters of Intent to the PBA Commissioner's Office.
Key Points
Three companies are interested in purchasing the Terrafirma franchise.
The initial agreement with Starhorse has been terminated due to non-compliance with PBA requirements and unmet terms in negotiations with Terrafirma.
PBA Commissioner Willie Marcial is in talks with the new interested parties.
Two of the potential buyers have submitted Letters of Intent to the PBA.
The collapse of the Starhorse deal marks the end of their attempt to enter the PBA.
