Rising broadband provider Converge ICT formally announced on Wednesday, March 23, its entry into the Philippine Basketball Association (PBA) following the successful conclusion of the sale and transfer of the Alaska franchise to Converge.
Online site Bilyonaryo.com first reported about the impending purchase by Converge of the Alaska franchise, which left the league this week after a fruitful three-decade campaign.
“I wish to thank the PBA Board of Governors led by Chairman Ricky Vargas, PBA Commissioner Willie Marcial and Alaska team owner Mr. Wilfred Uytengsu for the invaluable and unqualified support they have lent Converge in realizing its quest to become a member of the PBA,” said Converge founder and CEO Dennis Anthony Uy in a statement.
“Converge is extremely proud to be associated with the PBA, a pillar and institution in Philippine sports with a long and storied history. We are excited to commence our journey in building a track record and legacy of competitiveness, innovation, character, discipline, devotion and sportsmanship worthy of the support and respect of PBA fans,” Uy added.
The broadband tycoon said his team will aspire “to bring to the court a brand of basketball consistent with its revolutionary and entrepreneurial spirit” for the upcoming PBA Season 47 which starts in June.
“We look forward to contributing our share in delighting and hopefully exceeding the expectations of PBA fans for topnotch sports entertainment,” Uy said.
The Converge official did not reveal the cost of the acquisition but Bilyonaryo.com said a PBA franchise is valued at between P100 million and P200 million.