Starhorse Shipping Lines is in discussions with both Terrafirma and the PBA regarding a potential franchise acquisition.
Spin.ph first reported Starhorse’s interest in entering the PBA, while multiple sources confirmed to Tiebreaker Times that the company is specifically looking to purchase the Terrafirma franchise.
According to sources, Starhorse representatives met with Dyip governor Bobby Rosales last weekend and PBA commissioner Willie Marcial earlier this week to discuss the potential acquisition.
The last time a PBA franchise changed hands was in 2022, when Converge acquired the Alaska Aces for an estimated P100 million.
Similar to the Alaska-Converge transaction — which required Converge to secure approval from TNT’s parent company, PLDT-Smart — Starhorse will also need to go through a similar process, as it operates in the same industry as Northport’s parent company, Manila North Harbour Port.
Founded in 2008 by the late Victor Reyes, Starhorse Shipping Lines is a domestic shipping company based in Lucena, Quezon.
Following Reyes’ passing in 2016, his wife Merian and son Dominic took over the business.
For the negotiations, Starhorse has enlisted three key figures: Jackson Chua, Bernard Yang, and Melo Navarro.
Chua, a budding entrepreneur, previously managed Basilan’s MPBL team, which is making its return to the regional league this year after a four-year absence.
Yang and Navarro, meanwhile, are current directors in the University and Colleges Athletics League (UCAL).
All three are also part of the management team of Starhorse-Basilan in the MPBL.
If the purchase goes through, Terrafirma’s decade-long run in the PBA will come to an end.
The franchise was originally owned by Columbian Autocar Corporation from 2014 to 2020 before its ownership was transferred to its affiliate company, Terra Firma Realty Development Corporation, in June 2020.
Since joining the PBA, the Dyip have only made the playoffs twice.
