PBA has new broadcast partner for 37th season

The Philippine Basketball Association (PBA) has a new partner in TV5, which will also be the marketing arm of Asia's pioneering pro league starting next season. The agreement was reached on Friday following a special board meeting at the PBA office in Libis, where the proposed transfer of the Barako Bull franchise to Air21 was also approved. The meeting was over for about 45 minutes as all nine team representatives readily gave their consent on the P700 million cash TV5 offered to the league for the PBA coverage in the next five years. The deal also included P150 million for marketing and promotion and P115 million worth of advertising spots lasting up to 2016. TV5, owned by businessman Manny V. Pangilinan, takes over the spot of Solar Sports. "I'm excited to work with TV5 as our new marketing and TV partner," PBA commissioner Atty. Chito Salud said in his statement following the meeting. "The PBA leadership is looking forward to this partnership as a means to bring the league to the next level in terms of awareness, fan base, and prestige." The formal signing of the contract will take place in the next few days. Based on the agreement, TV5 will be in charge of the broadcast and marketing rights for radio and TV of both the PBA and the PBA D-League, which opens its two-conference second season in October. The PBA board also approved the sale of the Barako Bull franchise to Air21, owned by Bert Lina. The transaction guaranteed a 10-team field for the league by the time the 37th season kicks off in October. Salud said the new franchise holder will submit in the next few days a list of concessions that it will request from the board in the hope to make the existing Barako roster more competitive. "I don't think it will be through a dispersal draft," said Salud. "Most likely it will be through the rookie draft in August." - JVP, GMA News