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MVP renews bid for stake in NBA franchise

4

"The business tycoon, perhaps the most prominent sports financier in the country, is currently in talks with several NBA franchises for a possible minority stake. The development comes at the heels of a failed bid for majority ownership of the Sacramento Kings. This time, Pangilinan hopes to acquire a minority stake and build from there. "There are actually opportunities for five to 10-percent stakes in some teams," Pangilinan told reporters. "Hindi pa kami kumakagat, (We haven’t agreed yet), but one of these days, I think we will," he said. "We want to learn … how [NBA franchises] run those teams. There are a lot of proposals," he said. If given a choice, Pangilinan said he would prefer a team in the United States West Coast, which is just across the Pacific Ocean and closer to the Philippines."

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