The Philippine Online Chronicles

Businessman Manny V. Pangilinan may be out to buy the American National Basketball Association (NBA) team the Sacramento Kings.

According to a report in the Inquirer, Pangilinan could be “going into the NBA” after he was offered ownership of the Sacramento Kings by the team’s current management. However, the businessman has yet to confirm if there are any truth to the rumors.

“MVP is planning to buy into the franchise of the Sacramento Kings. There are other interested parties, but the Kings management decided to offer it first to a Filipino businessman because they know of the Filipinos’ passion for basketball. MVP is seriously interested in the offer,” PDI's source said.

The article also said that Sacramento Kings representatives recently came to Manila to present Pangilinan with a complete financial portfolio of the Kings franchise.

Joaquin Henson in the Philippine Star also reported that “two high-caliber financial consultants” had come to deal with Pangilinan.

“The balance sheet and the cash flow looked good,” the Inquier reported one of Pangilinan’s financial advisers as saying, adding that the initial investment figure came to around USD260 million “give or take a few millions.”

“The Sacramento Kings franchise is a corporation and MVP will come in as a partner. He will of course aim for majority stakes,” said another source, a sports VIP.

Henson added that “buying and selling NBA franchises is nothing new.” It added that the current owners of the Sacramento Kings, the Maloof family, are reportedly exploring the option of selling out.

Sacramento City Mayor Kevin Johnson, a former NBA player who visited Manila on a Converse promotional tour in 1986, is also “supposedly upbeat” on the possibility of a Filipino taking over the Kings franchise.

Pangilinan is expected to decide on the sale in the next two months. If it pushes through, Pangilinan will be the first Asian to hold an NBA team.

MVP in the NBA

Bill Velasco says in the Philippine Star that Pangilinan’s potential ownership of the world-renowned basketball team faces a lot of difficulties, from staggering maintenance costs to possible racist treatment.

“Perhaps Pangilinan’s biggest apprehension is that he does not live in the US and will primarily be an absentee owner,” he says. “Who would he trust to run the team in his absence?”

However, others maintain hope that the deal will push through.

“As I write this, it is not far-fetched that MVP and his sports group may be animatedly discussing the possibilities,” said the Inquirer article. “He could sit down with the Kings board to haggle for a Filipino assistant coach or for transfer of technology and a Filipino player or two in the team. After all, he owns it.”

“Imagine a Filipino businessman rubbing elbows in an NBA team owners meeting with [Los Angeles Lakers owner Jerry] Buss, Russian billionaire Mikhail Prokhorov of the New Jersey Nets, Jerry Reinsdorf of the Chicago Bulls, Donald Sterling of the Los Angeles Clippers, Mark Cuban of the Dallas Mavericks, Micky Arison of the Miami Heat (where Julio Iglesias is a minority owner) and Michael Jordan of the Charlotte Bobcats,” Henson added. “We can dream, can’t we?”