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Welcoat to take over Shell franchise

Welcoat to take over Shell franchise

The Philippine Star 01/20/2006

Shell will soon be totally out of the Philippine Basketball Association with Welcoat Paints to take over its franchise.

The STAR source said the two parties have reached an agreement for a franchise takeover approved by the PBA board of governors subject to certain conditions, including a franchise transfer fee plus a league participation fee amounting to P10-P15 million.

The same source said the PBA board would push for the transfer of the franchise and expect Welcoat to be a new league member by next season starting in September.

Shell’s leave of absence from the PBA ended last July and the board has given the ballclub until Feb. 15 to sell its franchise or it will eventually forfeit all its rights and obligations as a PBA member.

The same source said Welcoat’s takeover of Shell is practically a done deal.

Now playing under the banner of Rain or Shine in the PBL, the Welcoat is allowed to elevate only three players from its current team to the PBA. The rest would have to go through the rookie draft if they want to join the pros.

As a new member, Welcoat will have the rights on the Nos. 10 and 11 picks in the coming draft.

The league will also hold a special draft where Welcoat can pick from veteran players the nine existing ball clubs will make available for the Paintmasters. The nine ball clubs will put two players each in the draft pool.

Leo Austria is likely to be tapped to coach the team. Rain or Shine is under coach Caloy Garcia who has JR Reyes, Junjun Cabatu, Jojo Tangkay, Marvin Ortiguerra, Eugene Tan and Ronjay Enrile as the key players. — Nelson Beltran
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Comments

  • baludoybaludoy Nag me-meron PEx Expert 🎖️
    it's about time.too many talents languishing in the pba with too little opportunities. i hope another team would enter the league notwithstanding the prohibitive costs it entails. sana mag sosyo sina romero at razon for that venture:)
  • ahem...calling Harbour Centre
  • animo_92animo_92 PEx Veteran ⭐⭐
    hehehe, wala pang napapatunayan ang harbour centre sa pbl. maghintay-hintay muna sila kahit 1 year lang....

    sa wakas, welcoat to the pba!!! ano na kaya ang masasabi ng former welcoat paintmasters renren ritualo and don allado? sino pa ba mga dating taga-welcoat? is there a chance na mabalik sila sa welcoat? ;)
  • J. Yap, Tubid, Artadi, Wilson, Pingris and J. Wash played for Welcoat before.
  • Harbour Center is the next company that has a chance to play in the PBA.

    Kung saka sakaling makakasali sila this year. Kukunin kaya nila si Joseph Yeo. hahahaahh
  • adonis827adonis827 PEx Influencer ⭐⭐⭐
    oo huwag lang nilang palaruin kung kalaban si enrico baka masaktan =))
  • welcoat will be allowed to evelate 3 PBL players (aside dun sa mga ex pros at free agents nila)....jr reyes, junjun cabatu and ronjay enrile lang nakikita kong pede nilang iakyat unless they can deal with other PBL teams for the likes of santos, kelly williams and tenorio...
  • shadow jedishadow jedi PEx Influencer ⭐⭐⭐
    Sabi ng malaya next year pa daw....sana makasali na sila next season. Kulang kasi ang 9 e.

    http://www.malaya.com.ph/jan20/spor1.htm
    Pro league opens door to Welcoat

    BY NOLI CORTEZ

    WELCOAT Paints has resumed its bid to become the newest member of the PBA and may become the pro league’s 10th member next year–if it is willing to shell out hard cash.

    Informed sources yesterday said the PBA board, in a meeting last Monday, practically approved several conditions that Welcoat must comply with if it wants to take over the franchise of the disbanded Shell team last year. The soonest Welcoat can join the pro league, however, is next year.

    A letter drafted by PBA commissioner Noli Eala containing the conditions has been circulated to the league’s board of governors. The letter is set to be forwarded to Welcoat officials early next week.

    One source said among the conditions Welcoat must meet is for the paint company to pay a P6 million transfer fee, representing 10 percent of the Shell franchise’s worth, on top of a P7 million participation fee. Also, Welcoat can only elevate three players from its Rain or Shine team currently participating in the PBL, as well as avail of only the 10th and 11th picks in the Rookie Draft next year.

    To complete a full lineup, Welcoat will be made to choose from among players that will be left unprotected by the nine PBA teams.

    Should Welcoat agree to these conditions, a special PBA board meeting will be held to formalize the transfer of Shell’s franchise to Welcoat, according to a reliable source. Shell disbanded last year after its mother firm in The Netherlands discontinued its support of the Turbo Chargers’ squad.

    "The conditions have already been initially tackled during the meeting last Monday. So far wala naman akong nadidinig na objection or negative comment from the governors," said an insider. "Thus, it is safe to say the same conditions will be delivered to Welcoat."

    Eala refused to comment on the veracity of the report while Welcoat co-owner Raymund Yu did not return Malaya’s calls.

    Usually reliable sources, however, said Welcoat’s entry is a sure thing, reportedly made possible by Welcoat management’s covert application and queries. Welcoat has long been rumored to be interested in joining the PBA but previous talks have bogged down.

    Welcoat and PBA discussions, a source said, resumed after talks with other prospective buyers of the Shell franchise screeched to a halt.

    "May commitment naman talagang sumali ang Welcoat sa PBA. Ang kailangan lang naman ma-meet nila ang conditions ng (PBA) board," said one league insider.
  • AnthonyServinioAnthonyServinio Member In Focus PEx Icon 🎖️🎖️🎖️
    Big Ticket wrote:
    welcoat will be allowed to evelate 3 PBL players (aside dun sa mga ex pros at free agents nila)....jr reyes, junjun cabatu and ronjay enrile lang nakikita kong pede nilang iakyat unless they can deal with other PBL teams for the likes of santos, kelly williams and tenorio...
    The players currently in Rain Or Shine's roster that may enter the PBA any time are:

    Gilbert MALABANAN - Ginebra, San Miguel
    Marvin ORTIGUERRA - Santa Lucia, FedEx
    Eugene TAN - unsigned rookie free agent (Purefoods)
    Jercules TANGKAY - Santa Lucia, Talk N Text
  • outmapoutmap PEx Influencer ⭐⭐⭐
    The players currently in Rain Or Shine's roster that may enter the PBA any time are:

    Gilbert MALABANAN - Ginebra, San Miguel
    Marvin ORTIGUERRA - Santa Lucia, FedEx
    Eugene TAN - unsigned rookie free agent (Purefoods)
    Jercules TANGKAY - Santa Lucia, Talk N Text
    Bukod pa yung 3 players that they can elevate from the amatuers? If that's the case, pwede na. Plus they can get players from a special draft from other teams. *okay*
  • harbour center has money for business
    but not the pba

    di nga nila afford ang 35m na hiningi ng shell
    e yun buong team na
    competitive pa
    pang pbl lang sila

    welcoat ok yan
  • AnthonyServinioAnthonyServinio Member In Focus PEx Icon 🎖️🎖️🎖️
    outmap wrote:
    The players currently in Rain Or Shine's roster that may enter the PBA any time are:

    Gilbert MALABANAN - Ginebra, San Miguel
    Marvin ORTIGUERRA - Santa Lucia, FedEx
    Eugene TAN - unsigned rookie free agent (Purefoods)
    Jercules TANGKAY - Santa Lucia, Talk N Text
    Bukod pa yung 3 players that they can elevate from the amatuers? If that's the case, pwede na. Plus they can get players from a special draft from other teams. *okay*
    A survey of the current nine teams in the PBA reveal the following Welcoat alumni:

    AIR21 - Florendo Ritualo Jr., Yancy de Ocampo, Ronald Tubid
    ALASKA - Don Allado, William Wilson
    BARANGAY GINEBRA - Romel Adducul, Ervin Sotto
    COCA COLA - Dennis Miranda, Renato Morano
    PUREFOODS - Paul Artadi, Eddie Laure, Jean Marc Pingris, James Yap
    RED BULL - Celino Cruz
    SAN MIGUEL - Frederick Canlas
    SANTA LUCIA - Ronald Cuan, Nelbert Omolon, Chester Tolomia
    TALK N TEXT - Anthony Washington
  • outmap wrote:
    Bukod pa yung 3 players that they can elevate from the amatuers? If that's the case, pwede na. Plus they can get players from a special draft from other teams. *okay*

    medyo mahina pa rin sya compared to other teams....ala silang go-to-guy....baka pede nilang kunin ulit si j-wash from TNT kapalit ng future 1st rounder....
  • Mukhang sure na Welcoat sa PBA next season
    WELCOAT'S Philippine Basketball Association dream has finally become a reality.

    The league's board of governors has unanimously voted for the transfer of Shell's franchise to Welcoat, making the paint company the newest member of the PBA, a reliable source yesterday told the Inquirer.

    "It's already a done deal," the source said. "They [Welcoat officials] just have to satisfy the conditions set by the league to formalize their entry."

    After getting the nod of the board, Welcoat will be required to shell out P7.5 million as equity to the league plus a transfer fee amounting to P6 million within 15 days starting today. The P6 million represents 10 percent of Shell's franchise fee.

    Shell auctioned off its franchise for P60 million, but officials from the two teams could still haggle for a lower price.

    "We're very excited," said Welcoat team owners Terry Que and Raymund Yu. "The long wait is finally over."

    http://news.inq7.net/sports/index.php?index=1&story_id=63600
    PBA agrees to accept amateur team as new member

    IT’S ALMOST a done deal as far as Welcoat Paints’ entry to the PBA is concerned.

    Though talks of the team’s possible entry first popped out early last month, the deal that will transfer Shell’s franchise to the hottest amateur squad was sealed last Monday.

    A highly reliable source told the Bulletin that Welcoat owners Raymund Yu and Terry Que are set to pay a R6 million transfer fee to the pro league anytime next week. Aside from that, the country’s leading paint company will also have to pay another R7.5 million for participation fee.

    "Welcoat is just waiting the letter from the PBA but Mr. Yu and Mr. Que are now already excited," said the source. "As early as 1999, the two owners were already knocking at the PBA door and now that they have been given a chance, they are."

    http://www.mb.com.ph/SPRT2006012154353.html
  • Big Ticket wrote:
    medyo mahina pa rin sya compared to other teams....ala silang go-to-guy....baka pede nilang kunin ulit si j-wash from TNT kapalit ng future 1st rounder....

    Ang pinakamadaling option dito siguro ay kung hindi protected ng Talk N Text si J-Wash sa expansion draft unless may terms din yan sa rookie contract niya. Pero sana malipat din si J-Wash, nasasayang siya sa TNT.
  • whether its protect 9 or 10
    who do you think will be left unprotected per team
    so we can make a guess who WELCOAT will take
  • KobeWanKenobiKobeWanKenobi PEx Influencer ⭐⭐⭐
    The rule for Welcoat's entry is each PBA team to protect 10 players. Welcoat gets the 10th and 11 pick in the draft. In addition, Welcoat can bring in 3 players direct from the amateur ranks.
  • KobeWanKenobiKobeWanKenobi PEx Influencer ⭐⭐⭐
    The reason why Washington isnt playing is because hes injured. And TNT will definitely protect him to protect on their investment.
  • Yup, he's injured kaso pag nandun siya nawawala siya sa rotation ng TNT, masyadong crowded na sila dun pero agree ako na stick siya sa TNT unless Welcoat gives them the royalties.
  • outmapoutmap PEx Influencer ⭐⭐⭐
    Sa sobrang lalim ng mga bench ngayon, di malayong makakuha sila ng magaling na player pero di lang nagagamit sa ibang team...
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