THE approval of the Philippine Basketball Association (PBA) Board of Governors was unanimous.
This essentially paved the way for Converge ICT Solutions to become the newest member of Asia’s first play-for-pay league after the firm acquired Alaska’s PBA franchise.
PBA Commissioner Willie Marcial himself made the announcement via a press conference at the SM Mall of Asia Arena today.
Alaska governor Richard Bachmann was present, including former PBA Commissioner Chito Salud, who was introduced as Converge’s representative to the board.
The lock, stock and barrel deal calls for Converge assuming all of Alaska’s obligations to the players with live contracts, and holds rights to the players with expiring contracts.
The storied Alaska franchise entered the league back in 1986, its legacy marked by 14 championships, and became the fourth team in the annals of PBA history to win the coveted grand slam.