The PBA Board of Governors has unanimously approved the sale of Barako Bull to Phoenix Petroleum in a special meeting at the league’s headquarters in Libis, Quezon City.
PBA chairman Robert Non said representatives of the league’s newest member will be invited to the regular Board meeting on Jan. 28 to inform them that the sale of the franchise owned by Linaheim Services Inc. has been approved.
“The Board unanimously agreed that Phoenix Petroleum is financially capable of maintaining a team in the PBA. So hindi naging mahirap yung desisyon,” said Non, adding that the meeting was called on the request of Barako Bull representative Manny Mendoza.
This year, Phoenix Petroleum is reported to also have a team in the Philippine Super Liga and the PBA D-League. This has helped the company’s bid to buy the franchise, as they have shown they are fully capable of running a professional sporting team.
The Board likewise gave Phoenix the green light to start playing in the Commissioner’s Cup instead of waiting until the next season. In 2011, the Board also approved the sale of Barako Bull to Linaheim, which took over the operations of the Barako Bull team during mid-season.