The Philippine Basketball Association (PBA) will soon see a big change as Terrafirma Dyip is set to sell its team to a shipping company, Starhorse Shipping Lines. After 11 years in the PBA, Terrafirma is expected to leave at the end of the 2024/25 season if the sale is approved.
Terrafirma Dyip’s team governor, Bobby Rosales, confirmed on Sunday, February 23, that the team is in talks with Starhorse Shipping Lines. However, the sale still needs approval from the PBA Board of Governors, where at least two-thirds must vote in favor.
“We will have to go through the process of the PBA,” Rosales said, making it clear that the deal is not final yet.
For weeks, both Terrafirma and Starhorse representatives have been discussing the sale. Starhorse has also sent a letter of intent to Terrafirma’s management, showing its commitment to buy the team. They also met with PBA commissioner Willie Marcial to go over the details. Rosales was also present during the meeting.
Starhorse Shipping Lines Inc. is still in the process of finalizing its acquisition of the Terrafirma Dyip franchise ahead of the next PBA season.
— Fastbreak (@fastbreaknewsph) February 24, 2025
READ: https://t.co/bPyrArQ0RE pic.twitter.com/ng6JJdC3rH
Reports say that Starhorse will pay PHP 100 million for the franchise. This is the same amount that Converge paid to buy Alaska in 2022, Phoenix paid for Barako Bull in 2016, and NorthPort paid for Coca-Cola in 2012.
The selling price of a PBA team depends on its sponsorship deals, marketability, and how well it performs in the league. Terrafirma has struggled in recent years, so many see this sale as a fresh start for the team under new management.
Terrafirma Dyip, previously known as Kia, joined the PBA in 2014 along with Blackwater Elite. At first, the team gained attention because Filipino boxing legend Manny Pacquiao was named as its playing coach. However, despite the media attention, the team struggled to win games.
In its 10-year history, Terrafirma has only made the playoffs twice and has finished last in the standings seven times. This season, the team’s poor performance continued as they had a record of 2 wins and 20 losses in the first two conferences.
Many fans believe that Terrafirma lacked the budget to build a strong team, which may have led to its decision to sell.
If the sale is approved, Starhorse Shipping Lines will become the newest team owner in the PBA. The company is already involved in basketball, as it is set to sponsor Basilan in the Maharlika Pilipinas Basketball League (MPBL).
The big question is how Starhorse will manage the team. With the right financial support and smart player recruitment, the team could improve and become more competitive, just like how Converge transformed after buying Alaska.
PBA fans are excited about this change, hoping that a new owner will bring better players, better team management, and more excitement to the league.
Even if the sale is finalized, Terrafirma Dyip will still play in the rest of the 2024/25 season under its current name. This gives players and fans time to say goodbye to the team before the transition to Starhorse happens.
For Terrafirma’s current players, this change could bring new opportunities or challenges. The new management may decide to trade players, release some, or bring in new talent. A stronger financial backing from Starhorse could also mean better training and better recruitment of players.
The sale of Terrafirma Dyip also affects sports betting in the Philippines. When a team changes owners, its performance can change too, making betting more unpredictable. Some teams improve under new management, while others take time to rebuild.
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