Business

Dioceldo Sy selling PBA team for P150M after spending P420M for perennial loser in 6 years

Bilyonaryo Dioceldo Sy is fed up with basketball and is willing to let go of his PBA team, Blackwater, for P150 million.

In an interview with Philippine Star, the Ever Bilena cosmetics owner revealed he bought the franchise for P120 million in 2014 and spent roughly P300 million to run the team during the last six years.

Blackwater is a perennial doormat of the league having won only 28% percent of the 173 games the team played during the period.

Sy admitted that he bought the PBA franchise just to fulfill his lifelong dream of running a team in the country’s most popular sports league.

And now that he has lost his passion for the game, Sy said he was shifting to boxing with the help of Senator Manny Pacquiao and former boxer Gerry Penalosa,

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