There were confirmed reports that Filipino business tycoon Manny V. Pangilinan is being offered to purchase the Sacramento Kings franchise of the NBA. Many people in Pangilinan’s inner circle have verified that the 63-year-old businessman is seriously, which is being sold for around USD 250 to 350 million, considering buying the franchise.
Tycoon Manny V. Pangilinan is no stranger to sports. In fact, he owns at least two teams in the PBA: the Meralco Bolts and the Talk ‘N Text Tropang Texters. On top of that, he has already invested millions in bankrolling the Smart Gilas-Pilipinas team, which is trying to qualify for next year’s London Olympics. You have witnessed the strength and potential of the Smart Gilas and you have to admit, those guys have the talent to show off.
There would be no doubt about the investment as far as Manny V. Pangilinan's resources are concerned. This is such a huge move and it will surely change our views as a Filipino the way we look on the sport. Our international representation and presence will push us to strive even better, even more higher.
We will not discuss anymore as to why does the Sacramento Kings is being sold. Though sources admits that poor gate attendance is one main reason to do so. If you happen to ask who will be gunning for the team to make it worth the price, today, the Kings have a couple of talented young players such as Demarcus Cousins, Omri Casspi, Tyreke Evans, and Marcus Thornton. In spite of this, it will take years of hard work and a lot of luck to make this core competitive in the future. Maybe they’ll get lucky by trading for a couple of good players, but for sure, it’s going to be a long climb back to the top. Why not try Rajon Rondo to join the roster? Nah, I don't think that's possible ;-)
There were no, as of this writing, confirmation that Manny V. Pangilinan is going to buy the franchise. If he decides to take the plunge however, he might have to deal with the fact that the Kings are losing as much as USD28 million annually. Yeah, that’s quite a gamble there.
It’s pretty obvious that in order to accumulate earnings or profit, an NBA team should be a playoff contender. That means the core team should be good enough to win ample amount in an 82-game regular season and still be able to advance in the post-season.
Right now, the Kings’ current roster simply doesn’t have the capacity to do that. In fact, the team ended this season with a dismal 24-58 record, second to the last in the Western conference. Dirk Nowitzki is quite an athlete defeating Kobe Bryant and the Lakers on that season as I recall.
Back in the day, the Webber-led team coached by Rick Adelman was just one three-point shot away from advancing into the NBA Finals in 2002. Nine years after that amazing run by the Kings, they only managed to reach the playoffs twice.
If Pangilinan wants to rake in the profits right now, he must hire a talented General Manager first and a good coach who knows the ins and outs of NBA. Even then, there’s still no assurance that the Kings can become a playoff contender by next season. Obviously, he can’t please Eric Spoelstra as he is still coaching the Heat, if so happen the NBA lockout find its way to resume the NBA season.
It’s a huge risk and it’s understandable if Manny V. Pangilinan will back out from the proposal. The truth of the matter is that Pangilinan will have to deal with losing millions of dollars every year, without any guarantee that he’ll get the money back.
One quite good about having a lot of money, just if Manny V. Pangilinan buys the team, this means that he won’t be there to oversee the operations because he’ll have to run the business while living here in the Philippines.
Considering that he has a very hands-on approach to his business, it will be tough for him to relocate to the United States just to manage one business enterprise.
Right now, Pangilinan is into telecommunications, energy, construction, finance, media, and food industry. His businesses can expand further by jumping into the biggest economy in the world. If Manny V. Pangilinan decided to buy the franchise, it must be his desire to finally move to the American market and bring some of his business interests over there.
It will surely send shockwaves through the entire country just in case Pangilinan takes the biggest risk of his business career. Pangilinan will be the first Asian owner of an NBA team and it might open the door for the first Filipino to play in the biggest basketball stage in the world. There would be no more question if Johnny Abarientos and Marlou Aquino will play for the NBA, just like the rumors spread during their peak.
Filipino-American coach Erik Spoelstra has already opened the gates for Filipino talent in the NBA by sending the Miami Heat into this year’s Eastern Conference finals. That said, there’s no question that Filipinos have the talent to succeed in this game on a global level.
So will Manny V. Pangilinan purchase the NBA Sacramento Kings franchise? We’ll just have to wait and see. Though, it will be cool if that happens.
Cheerio!
Tycoon Manny V. Pangilinan is no stranger to sports. In fact, he owns at least two teams in the PBA: the Meralco Bolts and the Talk ‘N Text Tropang Texters. On top of that, he has already invested millions in bankrolling the Smart Gilas-Pilipinas team, which is trying to qualify for next year’s London Olympics. You have witnessed the strength and potential of the Smart Gilas and you have to admit, those guys have the talent to show off.
We will not discuss anymore as to why does the Sacramento Kings is being sold. Though sources admits that poor gate attendance is one main reason to do so. If you happen to ask who will be gunning for the team to make it worth the price, today, the Kings have a couple of talented young players such as Demarcus Cousins, Omri Casspi, Tyreke Evans, and Marcus Thornton. In spite of this, it will take years of hard work and a lot of luck to make this core competitive in the future. Maybe they’ll get lucky by trading for a couple of good players, but for sure, it’s going to be a long climb back to the top. Why not try Rajon Rondo to join the roster? Nah, I don't think that's possible ;-)
There were no, as of this writing, confirmation that Manny V. Pangilinan is going to buy the franchise. If he decides to take the plunge however, he might have to deal with the fact that the Kings are losing as much as USD28 million annually. Yeah, that’s quite a gamble there.
It’s pretty obvious that in order to accumulate earnings or profit, an NBA team should be a playoff contender. That means the core team should be good enough to win ample amount in an 82-game regular season and still be able to advance in the post-season.
Right now, the Kings’ current roster simply doesn’t have the capacity to do that. In fact, the team ended this season with a dismal 24-58 record, second to the last in the Western conference. Dirk Nowitzki is quite an athlete defeating Kobe Bryant and the Lakers on that season as I recall.
Back in the day, the Webber-led team coached by Rick Adelman was just one three-point shot away from advancing into the NBA Finals in 2002. Nine years after that amazing run by the Kings, they only managed to reach the playoffs twice.
If Pangilinan wants to rake in the profits right now, he must hire a talented General Manager first and a good coach who knows the ins and outs of NBA. Even then, there’s still no assurance that the Kings can become a playoff contender by next season. Obviously, he can’t please Eric Spoelstra as he is still coaching the Heat, if so happen the NBA lockout find its way to resume the NBA season.
One quite good about having a lot of money, just if Manny V. Pangilinan buys the team, this means that he won’t be there to oversee the operations because he’ll have to run the business while living here in the Philippines.
Considering that he has a very hands-on approach to his business, it will be tough for him to relocate to the United States just to manage one business enterprise.
Right now, Pangilinan is into telecommunications, energy, construction, finance, media, and food industry. His businesses can expand further by jumping into the biggest economy in the world. If Manny V. Pangilinan decided to buy the franchise, it must be his desire to finally move to the American market and bring some of his business interests over there.
It will surely send shockwaves through the entire country just in case Pangilinan takes the biggest risk of his business career. Pangilinan will be the first Asian owner of an NBA team and it might open the door for the first Filipino to play in the biggest basketball stage in the world. There would be no more question if Johnny Abarientos and Marlou Aquino will play for the NBA, just like the rumors spread during their peak.
Filipino-American coach Erik Spoelstra has already opened the gates for Filipino talent in the NBA by sending the Miami Heat into this year’s Eastern Conference finals. That said, there’s no question that Filipinos have the talent to succeed in this game on a global level.
So will Manny V. Pangilinan purchase the NBA Sacramento Kings franchise? We’ll just have to wait and see. Though, it will be cool if that happens.
Cheerio!
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