PBA approves Romero's ownership of Powerade
MANILA, Philippines – Mikee Romero has formalized his entry to the Philippine Basketball Association (PBA) after getting the league Board of Governors' approval for the acquisition of the Powerade Tigers on Friday.
The league did not object Coca Cola Bottlers’ sale of Powerade to Romero's Sultan 900 Capital Inc.
“After careful consideration, the PBA Board unanimously decided to accept Sultan 900 Capital Inc. as the newest member of the league,” announced PBA commissioner Chito Salud in PBA.ph.
The announcement was made more than a month before the opening of the league’s 38th season on September 30.
Romero is chairman and president of Sultan 900, which owns Global Port.
Romero also owned Harbour Centre and the original Philippine Patriots in the Asean Basketball League (ABL).
“After the presentation of documents by Commissioner Chito, smooth sailing na,” said PBA chairman Robert Non, governor of the Barangay Ginebra Kings.
“E papano naman di maa-approve, e kahit tatlong PBA teams pala kayang i-finance ng Sultan 900,” added Non.
Romero, meanwhile, is hoping that his new team will take home a title in 3 years' time.
“Rain or Shine won their first championship after six years,” Romero said. “If we could do that at half the time, that would be a real achievement.”
The Powerade Tigers will be renamed Global Port Batang Pier and will be handled by Glenn Capacio and Ricky Dandan on an interim basis.
Powerade coach Bo Perasol will reportedly replace Norman Black is head coach of the Ateneo Blue Eagles.
Black, meanwhile, will be calling the shots for Talk N’ Text, whose mentor, Chot Reyes is currently handling Smart Gilas II.