Jump to content

Draft:Potential sale of the Terrafirma Dyip

From Wikipedia, the free encyclopedia


The potential sale of the Terrafirma Dyip is an ongoing effort by Terra Firma Realty Development Corporation to sell its Philippine Basketball Association (PBA) team, the Terrafirma Dyip, to a new entity. The franchise entered the PBA in 2014 as the Kia Sorento and has been under the ownership of Terra Firma since 2020. Reports of the franchise's sale started in February 2025 and has since involved multiple prospective buyers. If successful, it will be first franchise acquisition in the PBA since 2022 when Converge ICT acquired the Alaska Aces, becoming the Converge FiberXers.[1]

Starhorse Shipping Lines and the Zamboanga Valientes were the two most prominent buyers in the sale and previously had deals with Terrafirma to acquire the franchise, but both of them fell through. PBA commissioner Willie Marcial has expressed his hopes that the sale can be completed in time for the league's 50th season, otherwise the league may conduct a dispersal draft for affected players.[2]

Background

[edit]

On April 10, 2014, Columbian Autocar Corporation was awarded one of three expansion franchise to begin play in the 2014–15 PBA season alongside Ever Bilena Cosmetics and Manila North Tollways Corporation (now NLEX Corporation).[3][a] In 2020, Columbian transferred ownership to affiliate company Terra Firma Realty Development Corporation.[5]

Historically, the team hasn't been successful in the eleven years leading up to the sale. The team made the playoffs twice (2016 Governors' Cup and 2024 Philippine Cup) but didn't get past the quarterfinals on either occasion. In the first two conferences of the 2024–25 PBA season, the team accumulated a 2–20 record.[6] On June 8, the team played their final game of the 2024–25 season and potentially as a franchise, a 82–97 loss to the Blackwater Bossing.[7][8] With a 3–30 combined record in the season, this meant that Terrafirma, or its eventual buyer, will pick first in the PBA season 50 draft in September.[9]

Prospective buyers

[edit]

Starhorse Shipping Lines

[edit]

In mid-February 2025, reports began to surface that shipping company Starhorse Shipping Lines began discussions about acquiring the Terrafirma franchise. Starhorse had just entered the realm of sports after it backed the returning Basilan franchise in the Maharlika Pilipinas Basketball League.[10][11] On February 23, Terrafirma team governor Bobby Rosales confirmed the team's sale to Starhorse which will take into effect in the 2025–26 PBA season.[6][12] The sale price was reported to be set to ₱100 million, the same price as Converge ICT's acquisition of the Alaska Aces from Alaska Milk Corporation.[13][2] Starhorse even planned a moniker for their new team ahead of the upcoming acquisition, the "Sea Titans".[14] The acquisition needed approval from the Board of Governors, particularly the NorthPort Batang Pier as its owner, Manila North Harbour Port, Inc., is part of the same industry as Starhorse.[12][14] As the sale process had began, Terrafirma cannot make any trades until the sale is completed.[15] On April 24, the deal with Starhorse fell through. PBA commissioner Willie Marcial stated that Starhorse failed to comply with the league's financial obligations and also weren't able to submit "necessary requirements" to Terrafirma.[16]

Zamboanga Valientes

[edit]

It wasn't long after the Starhorse deal failed that new buyers would show interest, with Marcial stating that three undisclosed entities had reached out about joining the PBA; two of them submitted their letters of intent to the Commissioner's Office.[17][18] One of those entities was the organization behind the Zamboanga Valientes, a team that previously entered the PBA 3x3 in 2021.[19][20][21] Marcial met Valientes team principal Junnie Navarro during the PBA's visit to Zamboanga City on April 26.[2] On April 30, both the Valientes and Dyip agreed to a mutual agreement and were given until July 11 to complete the sale.[22][23][24]

On July 4, SPIN.ph journalist Snow Badua reported that the Terrafirma team was "disbanded" while the sale price for the franchise went down to ₱70 million, a decrease of ₱30 million.[25] On July 11, the day of the Valientes' deadline, Justine Bacnis of Tiebreaker Times reported that talks between Terrafirma and the Zamboanga Valientes had died down. On the same day, Marcial assured that the league would remain at twelve teams for its 50th season and that the Board of Governors will meet on July 16 to discuss the uncertainty of the Terrafirma franchise.[26]

Universal Canning, Inc.

[edit]

Alongside the Valientes, Universal Canning, Inc, owned by Anita Kaw, also submitted a letter of intent to the PBA.[19] Coincidentally, both the Valientes and UCI co-sponsored Zamboanga's MPBL expansion team in 2018 before both sides split with UCI becoming the sole title sponsor of the team from 2019 to 2024.[27][28] Whether the company will acquire the Terrafirma franchise or establish an expansion team is currently unknown.[20]

Reactions

[edit]

When it was first announced that the franchise would be sold to Starhorse, Terrafirma player Terrence Romeo remained optimistic that the team will "give their best" while they remain under the Terrafirma banner. "We’ll just think about what will happen in the future after we’ve finished our moment," Romeo added. Interim coach Raymond Tiongco told his players to "stay positive and just [do] their best. If there’s going to be a change in management, they still have to play because that their job."[29]

Javi Gómez de Liaño, who previously played for Terrafirma from 2022 to 2024, expressed his sadness towards the franchise's sale saying, "Of course I also feel sad because we have some good memories with that team."[30] Javi also stated the hopes to return with the eventual new team and "bring that winning mindset back."[31]

Juami Tiongson, another former Terrafirma player from 2019 to 2024, also has his wishes for the next owner of the franchise saying, “If ever the Terrafirma [franchise] is sold, I hope [the new owner] takes care of the utility, players, and coaching staff because they have worked hard, they deserve to get a new contract whether its with another team or whoever will acquire [the franchise]."[32]

Notes

[edit]
  1. ^ Only two expansion franchises were established as NLEX decided to forgo its expansion application, instead choosing to acquire the Air21 Express, becoming the NLEX Road Warriors.[4]

References

[edit]
  1. ^ Villanueva, Ralph Edwin (May 5, 2025). "What we know so far: Terrafirma's impending PBA franchise sale". Philstar.com. Retrieved July 11, 2025.
  2. ^ a b c Henson, Joaquin. "Dyip sale moves forward". Philstar.com. Retrieved July 12, 2025.
  3. ^ Joble, Rey (April 10, 2014). "PBA approves entry of new teams NLEX, Kia, Blackwater for next season". InterAksyon.com. Archived from the original on March 4, 2016. Retrieved July 11, 2025.
  4. ^ NLEX reaches deal to acquire Air 21 franchise, awaits league approval Archived June 26, 2014, at the Wayback Machine, Rey Joble, InterAksyon.com, June 23, 2014
  5. ^ "Dyip set to carry Terra Firma banner". PBA. June 3, 2020. Retrieved June 3, 2020.
  6. ^ a b Dioquino, Delfin (February 23, 2025). "Terrafirma in process of selling PBA franchise to Starhorse". RAPPLER. Retrieved July 11, 2025.
  7. ^ Tuazon, Ernest (June 8, 2025). "Blackwater ends skid, deals Terrafirma harsh exit in potential PBA farewell". Tiebreaker Times. Retrieved July 12, 2025.
  8. ^ Megallon, Reynald I. (June 8, 2025). "Blackwater denies Terrafirma graceful exit in PH Cup, and possibly PBA". Manila Bulletin. Retrieved July 12, 2025.
  9. ^ Henson, Joaquin M. (June 5, 2025). "First overall pick a gem in sale". Philstar.com. Retrieved July 12, 2025.
  10. ^ Li, Matthew (February 14, 2025). "Starhorse Shipping Lines in talks to acquire Terrafirma PBA franchise". Tiebreaker Times. Retrieved July 12, 2025.
  11. ^ Terrado, Jonas (February 15, 2025). "Terrafirma sale to Starhorse gains traction". INQUIRER.net. Retrieved July 11, 2025.
  12. ^ a b Beltran, Nelson (February 23, 2025). "Terrafirma sells PBA franchise to Starhorse Shipping Line". Philstar.com. Retrieved July 12, 2025.
  13. ^ Terrado, Jonas (February 23, 2025). "PBA: Starhorse Shipping Lines takes over Terrafirma franchise". INQUIRER.net. Retrieved July 12, 2025.
  14. ^ a b Li, Matthew (February 23, 2025). "Starhorse chooses 'Sea Titans' as PBA identity once Terrafirma takeover gets approval". Tiebreaker Times. Retrieved February 25, 2025.
  15. ^ Catacutan, Dodo (March 6, 2025). "PBA assures no more trades for Terrafirma until sale consummated". Spin.ph. Retrieved July 11, 2025.
  16. ^ Terrado, Jonas (April 24, 2025). "PBA says Terrafirma sale off after Starhorse fails to comply". Philippine Daily Inquirer. Retrieved April 24, 2025.
  17. ^ Bacnis, Justine (April 24, 2025). "Three suitors eye Terrafirma franchise after Starhorse deal collapses". Tiebreaker Times. Retrieved July 12, 2025.
  18. ^ Suing, Ivan (April 28, 2025). "Zamboanga nears PBA stint". Daily Tribune. Retrieved April 29, 2025.
  19. ^ a b Ramos, Gerry (April 30, 2025). "'Kume' says Valientes, UCI have submitted letter of intent to PBA". Spin.ph. Retrieved July 11, 2025.
  20. ^ a b Bacnis, Justine (April 30, 2025). "Marcial hopes Valientes-Terrafirma deal pushes through in time for PBA 50". Tiebreaker Times. Retrieved July 14, 2025.
  21. ^ Lozada, Bong (March 26, 2021). "Zamboanga Valientes set to join PBA 3×3". Philippine Daily Inquirer. Retrieved March 26, 2021.
  22. ^ "Dyip, Valientes in talks for franchise sale". www.pba.ph. April 30, 2025. Retrieved July 11, 2025.
  23. ^ Ballesteros, Jan (May 1, 2025). "Zamboanga Valientes in process of acquiring Terrafirma franchise in PBA". onesports.ph. Retrieved July 11, 2025.
  24. ^ Henson, Joaquin (May 28, 2025). "Zamboanga nears Terrafirma sale". Philstar.com. Retrieved July 11, 2025.
  25. ^ Badua, Snow (July 4, 2025). "Terrafirma disbands team amid uncertainty of franchise sale". Spin.ph. Retrieved July 11, 2025.
  26. ^ Bacnis, Justine (July 11, 2025). "Marcial assures: PBA to keep 12 teams for 50th season amid Terrafirma sale uncertainty". Tiebreaker Times. Retrieved July 11, 2025.
  27. ^ Isaga, JR (June 9, 2018). "MPBL newcomer Zamboanga ready to make noise". Rappler. Retrieved October 28, 2020.
  28. ^ "'Valientes' to be re-launched as Zambo Family's Brand Sardines". www.pna.gov.ph. December 29, 2018. Retrieved October 28, 2020.
  29. ^ "Romeo staying focused". Daily Tribune. April 6, 2025. Retrieved July 12, 2025.
  30. ^ Ramos, Gerry (May 10, 2025). "Javi GDL feeling the blues with impending Dyip sale". Spin.ph. Retrieved July 11, 2025.
  31. ^ Garcia, John Mark (July 9, 2025). "Javi GDL's wish for Terrafirma buyer: 'A winning culture'". Spin.ph. Retrieved July 11, 2025.
  32. ^ Ramos, Gerry (June 12, 2025). "This is Juami Tiongson's one wish for former team Terrafirma". Spin.ph. Retrieved July 11, 2025.
This page will be placed in the following categories if it is moved to the article namespace.
Categories:
Retrieved from "https://en.wikipedia.org/w/index.php?title=Draft:Potential_sale_of_the_Terrafirma_Dyip&oldid=1300419641"