Lassiter trade to Petron put on hold; PBA board meeting reset for Feb 20

PBA commissioner Chito Sauld will only act on the controversial trade that involves Powerade rookie Marcio Lassiter being shipped to Petron in exchange for Nonoy Baclao and Rey Guevarra once the issue of the alleged sale of the Coca-Cola franchise to San Miguel has been settled. Salud made the stetement after Friday's special board meeting, specifically arranged to discuss San Miguel's reported acquisition of Powerade, did not push through for lack of quorum. The proposed trade, done by both Petron and Powerade teams, was submitted to Salud's office last February 7 for approval.

"Until we get an official word from Powerade over the sale, I will not act on the trade. You know very well that it's within the prerogative of the commissioner to either approve, revise or outright reject any trade proposal," said Salud.  

Interestingly, the three members of the San Miguel Group's board of governors—Petron's Ely Capacio, Ginebra's Robert Non and B-MEG's Rene Pardo—were absent. Powerade's JB Baylon, who happens to be the board's vice chairman, is also a no show along with Barako Bull's Manny Alvarez.  

"I am extremely disappointed," said league chairman Mamerto Mondragon of Rain or Shine. "We could have resolved very important issues, sayang. Lalo lang gumugulo."

The PBA board needs 50 percent plus one—or six members should be present—out of its 10-member teams to have a quorum. But Salud said the SMC executives had sent word in advance that they wouldn't be able to attend the meeting. He then set a similar meeting on February 20. Also present during the aborted Friday meeting were Talk 'N Text's Patrick Gregori, Meralco's Mon Segismundo, Alaska's Joaqui Trillo and Air21's Al Villadolid. Salud also wrote a letter to Coca-Cola chairman and CEO William Schultz to clarify the company's reported sale to SMC. He expects a reply before the board convenes again.

 

"Any kind of transfer of ownership has to have the approval of two-thirds of the Board. No formal letter has been sent to my office, and it just so happens that the past two weeks, media reports have been persistent that Coca-Cola has already sold its franchise," said Salud.  

"In the spirit of full disclosure and serving the interest of fans, I am writing to Coca-Cola for verification of these report. It's hard to comment on a matter I think, at this time, is based on mere speculations."  

"We have a process we follow regarding the sale of a franchise. Pero hindi pa 'yan validated. Ang trabaho ko dito as commissioner is to get to the truth,” said Salud.

A communication coming from Schultz and addressed to SMC president and CEO Ramon Ang leaked out to the media days before the board meeting, detailing Coca-Cola's offer to sell its franchise to SMC.

"We hereby give notice that the company is offering for sale its PBA franchise at a price of one hundred million (P100 million),” the letter stated. "Should the company not receive your response or acceptance of the offer for the PBA franchise within 60 days from receipt of this notice, then you shall be deemed to have expressly waived your right of first refusal, and the company can now offer the PBA franchise to third parties under the same terms offered to you."  

The letter was dated November 11, 2011. — JVP, GMA News