By REYNALD MAGALLON
It seems like Starhorse isn’t docking at the PBA shores just yet.
That, after a reliable source revealed that the process for Starhorse’s potential takeover of the Terrafirma franchise has been stalled due to the shipping company failing to meet the requirements to formalize its acquisition.
Last February, the news broke out that the shipping company, based in Lucena City, already submitted its letter of intent to buy Terrafirma’s franchise.
The two camps even already agreed in principle for a sale lock, stock and barrel and with Starhorse reportedly ready to take over the franchise by the start of the next season,
Since then, however, there has been no significant development to its bid to enter the PBA.
The source said that PBA has given Starhorse enough time to complete the list of requirements given to them but the company has not complied even after repeated reminders from the league office.
Manila Bulletin-Tempo sought the PBA for comments but the league has been mum about the issue although it is expected to make an announcement regarding the matter anytime soon.
