Pureblends to acquire NorthPort franchise before PBA 50th season
Pureblends Corp., a food manufacturing and solutions company, is close to acquiring the NorthPort franchise before the Philippine Basketball Association (PBA) opens its 50th season on October 4.
PBA chairman Ricky Vargas confirmed that most documents are finalized and due diligence is complete, with the sale expected to be completed soon.
Vargas welcomed the development and thanked San Miguel Corp. for allowing a competitor into the league.
“It’s a welcome situation,” said Vargas.
He also announced that competition advertising will be permitted during games, except when a team with a competing brand is playing.
PBA commissioner Willie Marcial said NorthPort player movements are on hold until the sale is finalized.
“Talks are serious and it’s close to getting done. It could happen anytime. I’d like to thank San Miguel Corp. for allowing a competitor to come in. The Board has also decided to allow competition to advertise on TV during games but only when a team of a competitive brand is not playing, it was decided not to permit any further movements of NorthPort players until the sale is confirmed.” Marcial said.
Pureblends, owned by Bryann Calantoc, is reportedly considering a coaching overhaul for Batang Pier, possibly tapping a former PBA head coach to lead the team.
