Terafirma to play in PBA season 50, but franchise remains for sale

Terrafirma Dyip has confirmed its participation in the Philippine Basketball Association’s (PBA) 50th season, but the franchise remains officially up for sale. 

PBA chairman Ricky Vargas said management is committed to competing this season while keeping the door open for potential buyers. 

“We talked to Terrafirma management. They’re committed to perform their best and they’re committed to stay, but they also said that they are for sale,” Vargas said

Commissioner Willie Marcial noted that although there is interest from several groups, none have made concrete moves yet.

“Hindi lang natin alam kung gaano ka-interesado ang mga ito. Kaya parang hanging ang Terrafirma,” Marcial said. 

The franchise has previously come close to being sold, with talks involving Starhorse Shipping Lines and Zamboanga Valientes eventually falling through. 

League legal counsel Ogie Narvasa stressed stricter vetting for future applicants.

“Remember we have two interested applicants, but we had problems with submission of requirements. So we have to be a little more careful in vetting the companies that are interested to join the PBA,” Narvasa said.

“So they’re committed to stay until there’s really a buyer,” Narvasa added.

For now, Terrafirma is gearing up for the new season, having drafted Geo Chiu as the No. 1 overall pick and appointing Ronald Tubid as head coach. 

The team remains focused on preparations while awaiting any developments regarding a possible sale.

“Let’s see what happens,” Vargas concluded.