Blackwater owner Dioceldo Sy is putting his team up for sale in the aftermath of possible sanctions from the PBA and the Games and Amusements Board for holding an unsanctioned practice over the weekend.
Sy told multiple outlets Wednesday night that he’s willing to sell the franchise for a minimum of P150 million, a development that came after the Elite came under fire for holding practice over the weekend sans the approval of the PBA and GAB.
PBA commissioner Willie Marcial had already asked Blackwater to explain the said practice which Sy revealed during Monday’s episode of the Sports Page on TV5.
On the other hand, GAB chairman Baham Mitra is looking at possible penalties since the Joint Administrative Order of GAB, Department of Health and Philippine Sports Commission that will give PBA teams the green light to resume practices has yet to be signed.
“The said JAO, which shall govern the conduct of professional and non-professional sports physical conditioning, has yet to be signed by the parties to the Administrative Order, and a schedule for the publication has yet to be agreed on,” Mitra said.
“However, it has been reported to GAB that (Blackwater) allegedly failed to comply with the directives of the GAB to wait for the approval of the JAO. Hence, the board issued a show cause order requiring the team owners and members to explain why disciplinary action should be taken against them,” Mitra added.
Sy did explain on the same television program that those who attended the session were able to observe the strict health measures that will be used once the PBA sets a date for the resumption of training.
But the league had recently approved a measure that will require all teams to undergo swab tests before practices can be allowed.
The PBA welcomed Blackwater as one of two expansion teams that entered the pro loop in 2014. The Elite made the jump after a stint in the PBA D-League where it won the 2013 Foundation Cup crown.
Blackwater has managed to make the playoffs on five different occasions but never made past the quarterfinal phase.