Monday, February 20, 2012
Lassiter Trade to Petron Proposal Result
The decision comes after a special meeting by the PBA Board of Governors on the status of the Powerade franchise. Coca-Cola Bottlers Philippines, Inc., the company that owns the Tigers, earlier admitted that it had been in talks to sell the team to San Miguel Corporation, which owns Petron.
In a statement, PBA commmissioner Chito Salud said that the trade was vetoed because of its effects on the league’s competitive balance,
“Upon close evaluation of the trade at hand, this office is exercising its right to VETO it and is hereby returning the same to the parties who may revise it to make the trade more balanced,” said Salud.
Lassiter was instrumental in Powerade’s Cinderella run to the finals of the Philippine Cup, where he finished third in statistical points. Baclao and Guevarra are second-stringers for the Boosters.
In the same statement, Salud made it clear that no sale has been concluded between SMC and CCBPI, which means that trades between the two teams would still be allowed, making Petron and Powerade free to make revisions on the Lassiter trade and submit it once more to the PBA.