Summit wants single coverage of PBA games

Summit Sports World Inc. has sought a reduction of franchise fee for the broadcast rights of the PBA games so it may honor its financial obligations with network partners NBN-4 and IBC-13.

Summit Sports, with Edwin Lisandra as new president, also batted for a single network to cover the games or it would pull out of the project.

Officials of NBN-4 and Summit Sports discussed in a marathon meeting Thursday night ways to resolve financial problems hounding their partnership regarding the PBA broadcast deal.

But in the end, Summit Sports made no commitment it would settle its obligations with NBN-4 and IBC-13 on airtime for the games. At last count, Summit Sports already owed NBN-4 P52 million and IBC-13 P70 million.

According to NBN-4 official Bobby Arias, Summit Sports actually promised to come up with a financial package to cover its dues but without guarantee it would be implemented unless it finds the PBA project viable.

"Their offer was conditional kailangan daw they find the project viable. How they would find it viable? Single network and reduction of franchise fee daw," Arias told The STAR.

The NBN-IBC consortium gained the broadcast rights of the PBA on a P200-million bid backed up by a unique parallel coverage of the games for the 2003 season. After winning the bid, the consortium then tapped World Summit, then under Fidel Cu, to act as bridge-financier of the project.

"They should have put up P90 million to tide things up as bridge financier. Pero sa kanila na nanggaling, P72 million pa lang ang nailabas nila," said Arias. "Hindi naman pwedeng sa advertisements umasa dahil usually 90 to 120 days before you get your receivables."

Arias said the NBN board, headed by Mia Concio, will wait for the Summit Sports financial plan before charting its next course of action. NBN-4 had said it would take legal action if Summit Sports doesn’t settle at least 50 percent what it owes the government-owned network. — Nelson Beltran