It’s now official, Manila Electric Company (MERALCO) is the newest member of the Philippine Basketball Association (PBA), according to the PhilStar. The giant electric company is taking over the Sta. Lucia Realty franchise, which it bought for P50 million. MERALCO was a powerhouse team during the 60’s and early 70’s during the old MICAA days. Ramon Segismundo, MERALCO Senior Vice-President and the team’s representative to the PBA Board, said that it’s a great honor to be part of Asia’s first play-for-pay loop and they will slowly build a competitive team just like the MERALCO squad of yesteryears.
“We will be building on our acquired franchise to develop a competitive team over the long-term. Meralco’s legacy has always been intertwined with Philippine basketball. It is an honor and privilege for us to be part of PBA’s future.”
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