There are indications the sale would be unanimously approved with minor details to be discussed on the financial requirements it is to impose on Airfreight — the sole representative of Federal Express in the country under the umbrella of the Bert Lina Group of Companies.
A PBA insider said the board is keen on handing down a verdict on Airfreight 2001 since it has yet to hold its annual board meeting and election of officers and the annual draft slated on the 13th.
The same source said Airfreight is a welcome replacement to Tanduay which had sparked a lot of controversies in its three-year return stint in the league.
In fact, up to its final days before entering into a sale agreement with Airfreight, Tanduay created problems to the league, trading a draft right which it had dealt to two other teams earlier. It was reported the team traded its rights on their second pick in the coming draft in a deal to Purefoods involving EJ Feihl. Incidentally, the particular pick had been traded in different agreements with Pop Cola and Shell.
PBA commissioner Jun Bernardino said he is to impose a hefty fine to Tanduay on this offense but refused to divulge the amount. While going through this problem, the PBA Commissioner’s Office, at the same time, scrutinized the financial viability of Airfreight.
This is the second to the last meeting to be presided by Talk N Text’s Iggy Yenko as he is set to relinquish the board chairmanship to Purefoods Butch Alejo on Jan. 13.
There’s word that Airfreight, which bankrolls the FedEx Laguna team in the MBA, will ask for a concession of at least five players it will automatically include in its lineup without going through the draft.
But this may find rough sailing in the board since it would have the rights on all the Tanduay players, plus a coach in Derrick Pumaren.
Aside from this, Airfreight will also assume Tanduay’s right on the first pick in the coming draft. The team is likely to exercise the right on FedEx Laguna ace forward Chris Clay if the Fil-Am player gains the required Bureau of Immigration and Department of Justice papers on time.
Tanduay and Red Bull had a different case. They were allowed to bring in players without going through the draft since they started as expansion ballclubs.
Airfreight is to buy an existing franchise worth P75 million. Under the agreement, Airfreight will pay a downpayment of P25 million with the rest to be paid on a installment basis in the next four years.