MVP opts not to run for POC presidency

Businessman Manuel V. Pangilinan (MVP) has opted not to run for the position of president of the Philippine Olympic Committee against Jose "Peping" Cojuangco, with the latter going for a third term. In a statement released to the media, Pangilinan said, "After long reflection and considerable thought, and taking into account the many complex  - and challenging - factors in the assessment, especially the demands on my time which such a position entails…I have concluded that now is not the right time for me to join the POC in an executive capacity. "However…I am not turning my back at all on Philippine sports…I remain committed to supporting it." Panglinan added that his MVP Sports foundation will continue to aid "the Filipino athletes in whatever manner we can." Most recently, Panglinan withdrew support from the Ateneo De Manila University, including the school's athletics program, especially their basketball team, which Panglinan had been a staunch patron of. The Blue Eagles team recently concluded a five-peat in the UAAP men's basketball tournament. Pangilinan is also president of the Samahang Basketbol ng Pilipinas, which is in charge of the Smart Gilas National Team, and chairman of the Amateur Boxing Association of the Philippines. - AMD, GMA News