This became evident yesterday as the Philippine Basketball Association made is stand clear: it's all about the money.
With the Red Bull Barako franchise floundering, Phoenix Petroleum's bid to buy the franchise was put to a vote to the PBA Board of Governors. Phoenix Petroleum failed to get 7 out of the required 10 votes and Red Bull was, instead, granted an extension of its leave from the PBA.
What this means, actually, was that a certain conglomerate was able to block Phoenix Petroleum from joining the league. This conglomerate decide to rename one of its team after one of its petroleum subsidiaries, thus creating an economic and political dilemma between the PBA and its stakeholders.
It just seems sad that economics play such a big role in the PBA. After all, the PBA has been steadily declining since its heydays in the 80's up to the late 90s and it seems to me that this is hardly the time for it to turn into an "old boys club".
Maybe there should be a rule that conglomerates can only own one team at a time?
More of this story, here.
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