Team owners Raymond Yu and Terry Que also announced the formal appointment of former Shark coach Leo Austria as head coach.
"We missed basketball and the PBL so much, and we’re very happy and very excited to get back," said Que.
"It’s a brand new start for us, but we want to come up with the same competitive team that Welcoat is known for. And from the list of coaches, coach Leo Austria best fits the image of the team, being the other coach that has constantly beaten us in championships series," said Yu.
Yu, however, said he’s not expecting much on the Paint Masters’ comeback conference. Austria, together with team manager Boy Lapid, is yet to gather available players and chances will depend on how competitive the team will be.
"Another championship stint? Probably not this conference because it will be a brand new line-up. It will take some time for the team to jell just like before when we’re just starting in the PBL. But definitely, it will be a competitive one," Yu added.
Among those initially eyed by Yu and Que are former MBA players Reynel Hugnatan and six-foot-seven Jean Marc Pingress.
Also considered are three former Ana Freezers Kings and talented young legs from the UAAP and the NCAA.
"We expect Austria to come up with the core by middle of this month and hopefully the line-up will be finalized by the end of August," Yu further said.
Welcoat Paints made PBL history by clinching four championships all via sweeps in six conferences since former coach Junel Baculi took over the coaching chores in 1999.
PBL commissioner Chino Trinidad was elated over the comeback of Welcoat as he expects the number of teams to soar to 10 in the PBL second conference.
"Welcoat brought the best seasons of the PBL and we’re very happy they’re back. Heto na yung hinihintay ng Welcoat fans. They prove true to their promise to return and we expect a much more competitive and interesting PBL second conference," said Trinidad.