Philipino Buyer Manuell V. Pangilinan to meet with Stern to discuss Kings?

[RaY Z]

Exactly. I'm half Filipino myself (My dad is has full Filipino Blood) and I was quite offended with with what he said.

Maybe Filipinos in Philippines "have no sense of meritocracy and would just make decisions that would benefit the "filipino" name" but my dad is certainly not like that and so are non of my Dad's Filipino friends nor my Filipino friends that live down here in Australia.

 

[Gary]

Good Morning everyone sorry i have been away there was nothing to talk about untill i found this story on the internet this morning

I have done some reasurch into the man and over the last year since he met with webber he has been building alot of contacts in the game... He was the man mainly responsible for the SMART Ultimate All Star Weekend, which brought Kobe Bryant, Kevin Durant, Derrick Rose, and Chris Paul, among others, to the Philippines for a series of games during the lockout. He owns teams already and the PBA league isnt too bad (i have watched the odd game) and apparently the team are well run and prized for there good scouting team and coachs

He also became the first president of the league which not only shows he is a strong leader but also knows his basketball, has been to several kings match over the last year and discribed the idea of buying the kings as "quite titterlating" and also said He said he would need to invest between $200 million and $260 million for a stake in the Kings, and that this would be done in his personal capacity. “That’s the ballpark figure [involved],” the man also has his finger in alot of pes which means if a market collapses he isnt going to lose it all which is good

I hope he takes over because lets be honest it cant get much worse

Did you copy this or write it yourself?

Reason I ask is it looks like something you would translate from an Asian website or something

 

[Glenn]

Did you copy this or write it yourself?

Reason I ask is it looks like something you would translate from an Asian website or something

Web sites in the Philippines are in English so the information is easy to find. You just have to have the curiosity.

 

[rainmaker]

Did you copy this or write it yourself?

Reason I ask is it looks like something you would translate from an Asian website or something

Well, google translator, nor any other I know of, misspell words after they are translated.

 

[PurpleHaze]

Is Pangilinan really all that wealthy - as in a filthy rich billionaire? I don't see him listed in top 50 or so richest Filipinos living in Republic of Philippines. His net worth is said to be around $50M or so in stark contrast to top tier individuals and families in the islands with net worths around 1-4 billion US dollars. BTW, almost all very richest (as in top 50 - some would say top 300 families) are Chinese-Filipinos and I don't think MVP is of such ethnicity - although that's just a little side note.

 

[KingsCitizen]

Sure thing I know is that Philippines, despite its decades of being ignored by world basketball tournaments, is a basketball crazy country and MVP will spend $$$ for basketball.

1.) He privately sponsored the Philippine FIBA team that almost qualified for the Olympics if they didn't give away the game to the eventual Asia champion, Jordan. This is already a big lift for Philippine basketball which used to depend on often ill-allocated government budgets when representing the country for international tournaments.

2.) He spends a lot to jumpstart a recent grassroots program in the Philippines that recruits basketball players and train them for reserve pool for the national team on international tournaments. This group's budget to join local and international tournaments year round comes from his personal pocket.

3.) This guy brought a core of NBA all-star during the lockout to Manila to play with his own Philippine All-Star. That less than a week tournament was able to pay the likes of Kobe, Rose, Durant, CP3, and our own Reke more than their paychecks could issue per month. So yes, he'll spend for basketball.

On another note, MVP is the man behind the rumors of having Javale McGee playing for Philippine National Team via naturalization. So if ever this guy will own the Kings, I think the first Filipino we'll be seeing for the Kings is McGee and not some non athletic, undersized Filipino which everyone fears.

 

[KingsCitizen]

Is Pangilinan really all that wealthy - as in a filthy rich billionaire? I don't see him listed in top 50 or so richest Filipinos living in Republic of Philippines. His net worth is said to be around $50M or so in stark contrast to top tier individuals and families in the islands with net worths around 1-4 billion US dollars. BTW, almost all very richest (as in top 50 - some would say top 300 families) are Chinese-Filipinos and I don't think MVP is of such ethnicity - although that's just a little side note.

Pangilinan's wealth, AFAIK, is not solely registered in Philippines. I believe he does have majority shares in businesses registered in other countries like $5 Billion First Pacific company in HongKong which he started together with 6 other people. That is other than the Telecoms/Mining/Power Corps he owns in Philippines which maybe listed under the company names itself instead of his own.

 

[bajaden]

Is Pangilinan really all that wealthy - as in a filthy rich billionaire? I don't see him listed in top 50 or so richest Filipinos living in Republic of Philippines. His net worth is said to be around $50M or so in stark contrast to top tier individuals and families in the islands with net worths around 1-4 billion US dollars. BTW, almost all very richest (as in top 50 - some would say top 300 families) are Chinese-Filipinos and I don't think MVP is of such ethnicity - although that's just a little side note.

I posted a podcast that answers some of your questions. In short, MVP is the head of an investment group that represents an Indonesian/Chinse group whose worth is unknown, but is in the billions of dollars. Just about every bill you pay in the Philippines, Gas, Electric, Phone, etc. goes to a group headed by MVP.

 

[JB_kings]

I don't think the problem was ever with having a group willing to buy the team from the Maloofs. It's more about how to get the Maloofs in the mood to sell the team. This MVP guy has no more advantage than Burkle, Ellison or any other group.

 

[Glenn]

I found an article where MVP was the most respected CEO type in the Philippines. Some were pushing him to run for President. There is reason for skepticism as he seems to enjoy the hands on experience of basketball and I don't know how he would work that by owning the Kings. The flight is still pretty dang long and if he runs as many businesses as he does, it better be a privatly owned Air Force 1 like plane. I have to assume the NBA would check him out clearly and although he seems a bit naive about the workings of the NBA and over exhuberant about the possibilities of Filipino involvement in the NBA, he didn't get to where he is by being lazy and should learn.

This thing about McGee is absurd. Don't naturalized citizens have to live in the Philippines? Wouldn't he have to give up his NBA check? I realize that there are a lot of Filipino citizens living in the US and vice versa but the rules probably are different if you are a naturalized citizen. To become a naturalized citizen in the US, you have to have lived here 5 years. Different countries have different waiting periods but if the Philippines are anything like the US, it just won't work. And why McGee?

 

[Glenn]

I don't think the problem was ever with having a group willing to buy the team from the Maloofs. It's more about how to get the Maloofs in the mood to sell the team. This MVP guy has no more advantage than Burkle, Ellison or any other group.

This is true but it is better to have several people willing to buy the team than just one. It may create a minor bidding war if you can imagine two people or entities fighting to own the Kings. In other words, money may get the Maloofs in the mood.

 

[KingsCitizen]

This thing about McGee is absurd. Don't naturalized citizens have to live in the Philippines? Wouldn't he have to give up his NBA check? I realize that there are a lot of Filipino citizens living in the US and vice versa but the rules probably are different if you are a naturalized citizen. To become a naturalized citizen in the US, you have to have lived here 5 years. Different countries have different waiting periods but if the Philippines are anything like the US, it just won't work. And why McGee?

Criteria for naturalization in Philippines, I believe, is a lot lighter than in the US. The Philippine team fielded a naturalized guy in FIBA, who don't even know places in Manila.
As for McGee, MVP also paid this guy to come to the Philippines for that all-star games with Kobe and company. As I heard, he loves it there. So maybe that's where the interest sprouted.

 

[Glenn]

Criteria for naturalization in Philippines, I believe, is a lot lighter than in the US. The Philippine team fielded a naturalized guy in FIBA, who don't even know places in Manila.
As for McGee, MVP also paid this guy to come to the Philippines for that all-star games with Kobe and company. As I heard, he loves it there. So maybe that's where the interest sprouted.

And come to think of it, McGee would be at less risk then the average Filipino in Manila's yearly flood.

 

[Kingster]

I certainly haven't heard it from Grant - I don't listen to his radio show and he doesn't discuss that sort of business on the telecasts. Scoop? Possibly. I seem to recall Voisin saying such by-laws didn't exist, and though I don't have a specific recollection of where I read it, I feel as if I've read it several times. I don't know the Simmons podcast you're referencing, but I definitely haven't heard U.S. media say that such by-laws DID exist since the whole maloofery started going down. It's the kind of good news I'd certainly like to hear and wouldn't forget.

I have heard it, and I heard it from Napier. He slipped the by-laws part in the middle of a sentence, said it really fast, and then went on about how the NBA couldn't force the Maloofs out. Yes, Grant will sometimes say the truth, but he'll do a good job of hiding it when he says it.

It also makes total sense that the NBA would have to have such a clause. There are way too many diverse extraordinary circumstances that the NBA must protect itself against. They must have general language to cover all the bases.

 

[Uk kings fan]

what do the mallofs have to do to be forced to sell the team... how low do there fourtunes have to go or how much do they have to borrow??

 

[Glenn]

what do the mallofs have to do to be forced to sell the team... how low do there fourtunes have to go or how much do they have to borrow??

The NBA has offered then a free $7 mil and loaned all the rest that the Kings need. Everything they need to borrow has already been arranged for by the NBA. The gift of $7 mil was a throw in with no strings attached. The Maloofs didn't like a deal that cost them nothing and just happened to be the amount of money they owed on the bond issue. One would guess that if they are turning down a loan from the NBA that would have paid off the bond issue they are planning NOT to repay it it which puts the city on the hook for roughly $75 mil. There are other uses of the $75 mil but the fact it amounts to the same amount as the bond issue is striking.

In orer to be forced into selling, I am not sure. I suspect they have to make the NBA look foolish or uncaring. They have to hurt the reputation of the NBA. I think ticking off people who might buy suites, signage, and the general public is a nice start to hurting the NBA's reputation. I think putting the city into a panic situation to keep them here instead of Anaheim, having the city respond admirably, and then torpedoing that plan hurts the reputation of the NBA. I suspect the NBA has more than one set of unstable owners but the instability seldom rises to the level of the Maloofs who not only are hurting themselves but also their advertisers and fans.

 

[CruzDude]

Reyes from Philippines to meet with Stern about buying the Kings

Seems energetic Senor Reyes from the Philippines is to meet with David Stern in next few days to discuss buying the Kings. He is very passionate about basketball and the NBA and was instrumental in getting a group of NBA all-stars to come to Manila for some exhibitions. Has said a number of times recently he wants to buy an NBA team.

Am partying this week in the Big Easy so info 3rd hand. Anyone got any updates on his Stern meetings in LA?

 

[Uk kings fan]

it was reported a few days back i havent heard anything... but apparently the meeting means nothing because he still must buy from the brothers

 

[Glenn]

This is not the same guy and I wonder if information is getting confused.

 

[CruzDude]

Reyes is MVP Sports involved with Philipino tycoon Pangilinan

Filipino tycoon Manuel V. Pangilinan and MVP Sports Foundation executive director Chot Reyes will be meeting with NBA commissioner David Stern to discuss a potential deal for the Sacramento Kings, a highly-placed source told InterAKTV on Thursday.

full link:

http://www.interaksyon.com/interaktv/mvp-chot-to-meet-with-david-stern-to-discuss-sacramento-kings


unrelated P.S. In the Big Easy local sports fans are big time worried that Saints in trouble (duh!) and Brees might not resign!!

 

[gatoradeSD]

Sac Town Royalty said this story was fake

http://www.sactownroyalty.com/2012/5/12/3015883/manny-pangilinan-sacramento-kings-david-stern-rumors

 

[Mr. S£im Citrus]

Seems energetic Senor Reyes from the Philippines is to meet with David Stern in next few days to discuss buying the Kings. He is very passionate about basketball and the NBA and was instrumental in getting a group of NBA all-stars to come to Manila for some exhibitions. Has said a number of times recently he wants to buy an NBA team.

... Wait, what do you mean, wrong Señor?

 

[Uk kings fan]

Filipino tycoon Manuel V. Pangilinan and MVP Sports Foundation executive director Chot Reyes will be meeting with NBA commissioner David Stern to discuss a potential deal for the Sacramento Kings, a highly-placed source told InterAKTV on Thursday.

full link:

http://www.interaksyon.com/interaktv/mvp-chot-to-meet-with-david-stern-to-discuss-sacramento-kings


unrelated P.S. In the Big Easy local sports fans are big time worried that Saints in trouble (duh!) and Brees might not resign!!

no where not??

 

[CruzDude]

Here is a wednesday, May 16 update for what it's worth:

http://www.malaya.com.ph/index.php/sports/3568-mvp-renews-plans-to-buy-kings

 

[gatoradeSD]

hmmm interesting