Zamboanga nears Terrafirma sale

MANILA, Philippines — The deal to sell the Terrafirma PBA franchise to the Zamboanga Valientes is nearing completion with July 11 the deadline to settle the financial terms related to the acquisition. The Valientes recently signed a Memorandum of Agreement with Terrafirma affirming their concurrence to finalize the transaction involving a reported payment of P100 million and a posting of a five-year P100 million cash bond in the PBA’s favor.

Newly-elected Zamboanga City second district councilor Junnie Navarro is the Valientes frontman with his mother Cory the owner of the Kings Group of Companies engaged in microfinance, fashion retail, distribution, trading, education and manpower services. Rolando M. Navarro Sr. Foundation, named after Junnie’s late father, is the arm that finances the Kings Group’s sports programs in basketball and boxing.

Navarro said he’s in close contact with PBA vice-chairman Alfrancis Chua in coordinating the sale. Assisting Navarro in laying the groundwork to operate the PBA team is Manny Victorino, a family friend and one of the league’s 50 Greatest. Victorino is based in New Jersey and said he’ll help out in forming a competitive team as an adviser.

Navarro aims to establish a Zamboanga legacy in the PBA. He’ll inherit Terrafirma players with existing contracts and reach out to those whose rights are held by the team. A priority is to reel in Christian Standhardinger who played six games for Terrafirma in the Governors’ Cup this season, averaging 16.3 points and 8.7 rebounds. Standhardinger, 35, skipped the Commissioner’s Cup and isn’t in the Terrafirma lineup for the Philippine Cup. While his contract has expired, Standhardinger’s rights remain with Terrafirma.

Navarro hasn’t spoken with Standhardinger directly but feelers have been sent to bring him back to the fold. What makes the deal extra juicy is the new owner will gain the first overall pick in the PBA draft on Sept. 7 as Terrafirma is expected to finish last in the season standings. Among the draft prospects are Quentin Millora-Brown, Rhenz Abando, Juan Gomez de Liaño, Will Gozum, Raven Gonzales, Joshua David, LJ Gonzales, Clint Escamis, Jason Brickman, CJ Lane, Kobe Paras and DJ Fenner.