New PBA chair Alvarez wants pro teams to tighten up belts

Two of the 10 participating teams in the Philippine Basketball Association (PBA) have been feeling the economic pinch and newly-installed chairman Lito Alvarez wants the league to implement cost-efficient ways for teams to survive the financial crisis.

“Kailangan maghigpit tayo ni sinturon (We need to tighten our belts) because of the economic crisis," said Alvarez during Tuesday’s PSA sports forum in Manila. “Yung krisis na nararamdaman natin hindi biro-biro yan at hindi lang Pilipinas ang apektado dito (The crisis that we are feeling now is not only felt in the Philippines)." Recently, teams like Barako Bull and Sta. Lucia made drastic moves of trading away their respective key players to free up some salary space. Barako Bull was even lent players by Coca-Cola and Talk N Text. The players’ salary will be shouldered by the Tigers and Tropang Texters’ management to spare the Energy Boosters of additional financial burden. Sta. Lucia has traded two key players the past week – Denok Miranda and team captain Dennis Espino, to free up some space from its salary expenses. Alvarez said if the matter is formally brought to their attention, then the league will do everything to help the teams weather the storm at least for the Philippine Cup that opens its season on October 11. “Kaya nga tinawag kaming (That is why we are called an) association, to help each member out," Alvarez said. “Pero kailangan ding mag-take ng cue ang iba pang miyembro para maiwasan ang mga ganu’ng sitwasyon (But we need the help of the other members to avoid this kind of situation)." The PBA has imposed a maximum salary cap of P32 million, including a P350,000 monthly pay for its stars. The new chair, however, explained the figures could be deceiving because there is other money on the side involved in maintaining a team. “Sa salaries lang iyon. Hindi pa kasama ang mga bonuses, etcetera (That’s only for the players’ salaries. Bonuses are not yet included)," he said. “Kaya pag pinagsama-sama mo lahat ng gastusin mahina-hina ang P70 million a year (If you add it all up it would cost close to P70 million a year)." But a source told GMANews.TV that other teams practice paying excessive salaries to some of its players, a fact that has been brought to Alvarez’ attention. “Parang it makes little sense na pati ‘yung 13th player mo malaki pa rin ang s’weldo. Ang dapat siguro diyan mga up to the eighth player lang ang malaki suweldo (It makes little sense that you’ll 13th player still has a higher salary. It should be only up to the eighth player.)," he said. – GMANews.TV