PBA: Coke bags Duremdes, Cabagnot in deal with Sta Lucia

When he returns to the hardcourt on Wednesday, Philippine basketball superstar Kenneth Duremdes and two of his teammates from the Sta. Lucia Realtors team will be wearing the red-and-white colors of Coca-Cola. The Philippine Basketball Association (PBA) announced on its website (www.pba.ph) that Duremdes, the PBA’s 1998 Most Valuable Player, was swapped to Coca-Cola along with sophomore Fil-Am guard Alex Cabagnot Jr. and reserve forward Ricky Calimag. In return, Sta. Lucia got Coca-Cola’s top point guard Dennis Miranda and substitute center Manny Ramos, and Coke’s second-round pick for the PBA’s 2008 rookie draft. More interestingly, both teams in the trade are scheduled to face each other this Wednesday. According to the PBA website, the Tigers and the Realtors sealed the deal Tuesday night, and trade documents were forwarded to the Commissioner’s Office for approval. Duremdes, now 33 and feted as one of the league’s 25 Greatest Players, said he feels sad about the development but at the same time excited to face a new challenge in his career. “Nang dumating ako sa Sta. Lucia akala ko doon na ako magre-retire. Five years ko na sila (Realtors) kasama kaya medyo malungkot tayo (When I joined Sta. Lucia, I thought I would retire as a Realtor. I’ve been with the team for five years so it saddens me)," said Duremdes, who spent most of last season on the injured list. “Sa isang banda parang bagong buhay ito sa akin. Panibagong challenge (But on the other hand, it is a new life of sorts for me. It’s a new challenge)," he added. Coca-Cola will be Duremdes’ fourth team in his 13-year career. He started with the now-defunct Sunkist team, the predecessor of Coca-Cola after San Miguel bought Cosmos Bottling. Duremdes was traded to the Alaska Aces in 1997 and played a key role in two of its championship runs. He was dealt to Sta. Lucia on Draft Day of 2003 in exchange for Sta. Lucia’s first round pick. Coca-Cola was removed from the San Miguel Corp. umbrella following the sale of Coca-Cola Bottlers Philippines Inc. to its parent company, The Coca-Cola Company, based in Atlanta. San Miguel “owns" the San Miguel Beermen, Barangay Ginebra Gin Kings, and Purefoods Tender Juicy Giants teams in the PBA. “It’s great that we got talented players whom we feel can help us big in our campaign not only this conference but in the seasons to come ... We got a veteran player in Kenneth who, with his experience, will bring leadership to the team, while I believe Alex is one of the best playmakers in the league," the PBA article quoted Coca-Cola coach Binky Favis as saying. For his part, Sta. Lucia team manager and PBA governor Buddy Encarnado said he had “no other choice but to sacrifice one of my marquee players because of our bulging payroll." “Had I decided to keep Kenneth, we would be forced to play with just a nine-man lineup next season. It can’t be done," Encarnado said, adding he was forced to “sacrifice" Cabagnot as well because “no one would take Kenneth on a one-on-one trade." The PBA report said that before Tuesday night’s trade, Sta. Lucia was the only team in the league still paying players a maximum amount of P500,000 a month. Duremdes and center-forward Dennis Espino are guaranteed of that pay up to December next year. Center Marlou Aquino used to receive the same amount until the expiration of his old contract last season. Aquino now gets the maximum pay of P350,000 a month under the revised salary cap rule. Also under the revised cap rule, Cabagnot, the second round pick overall last season, is guaranteed of the maximum package of P8.5 million in his first three years in the league. The same package went to Fil-Am Kelly Williams after being picked No. 1 overall by Sta. Lucia in the most recent Rookie Draft. “Of course, I was saddened by what happened, both players are close to me. But it’s really management’s call to make the deal because of the salary cap. Dennis and Marlou now have bigger responsibilities on the exit of Kenneth, Alex and Ric," said Sta. Lucia coach Boyet Fernandez. - GMANews.TV