MANILA, Philippines – Terrafirma is expected to bid the PBA goodbye soon as it is in the process of selling its franchise to Starhorse Shipping Lines.
Dyip team governor Bobby Rosales confirmed the development on Sunday, February 23, after reports surfaced that Terrafirma and Starhorse have agreed to a deal.
The sale is still subject for approval and needs at least a two-thirds vote from the PBA board of governors.
“We’ll have to go through the process of the PBA,” said Rosales.
The Dyip — originally known as Kia — joined the league in 2014 as one of two expansion teams together with Blackwater.
Success, though, has eluded the team throughout its decade of participation in the PBA as Terrafirma made the playoffs just twice and finished last in a conference seven times.
This season, the Dyip suffered early exits in the first two conferences, compiling a 2-20 record.
Meanwhile, Starhorse is a marine transportation company based in Lucena City, Quezon, which will sponsor Basilan in the upcoming Maharlika Pilipinas Basketball League season.
If the transaction pushes through, it will be the second time a team sold its franchise in three years after Converge took over the Alaska franchise in 2022. – Rappler.com
