PBA extends contracts
All contracts are extended until 31 December, but it’s still the option of their teams
The Philippine Basketball Association (PBA) decided to extend the contracts of players amid the pandemic brought by the novel coronavirus. PBA commissioner Willie Marcial said contracts of players that will expire at the end of July and August would be extended until 31 December to make sure that they would continue receiving their salaries despite the suspension of the 45th season.
He said this is their way of helping players bear the economic impact of the pandemic.
“All contracts are extended until 31 December, but it’s still the option of their teams. If the players do not get extended, they would become free agents,” said Marcial during the Philippine Sportswriters Association Forum yesterday.
“They are very lucky because whether or not there are PBA games, they will still get their monthly paychecks.
Since the league halted the games on 11 March, players, especially those with expiring deals, were at the edge of their seats as they brace for the financial pinch of the pandemic.
Some of those whose contracts would expire at the end of August are Arwind Santos and Alex Cabagnot of San Miguel Beer, Jeron Teng of Alaska, John Pinto of Meralco, Paolo Taha and Nico Salva of NorthPort and Jake Pascual and Dave Marcelo of Phoenix Super LPG.
In the previous PBA ruling, all kinds of transactions like free agent-signings and trades are frozen until five days after teams make their first official practice.
Now, Marcial said teams have the option to extend the contracts of their players — at least until December.
“We released a memorandum last Monday which said that all teams have the option to extend the contracts of their players,” Marcial said during the virtual forum presented by San Miguel Beer, Go for Gold, Amelie Hotel, Braska Restaurant, Philippine Amusement and Gaming Corporation and powered by Smart.
“The board of governors made it until the end of the year.”
Marcial also reminded teams that deals are still frozen until further notice and only the extension of contracts are allowed for the time being.
“We haven’t talked about the lifting of deals suspension yet,” he said.
“What we have only discussed is the extension of the contract so that players won’t be thinking too much about their finances.”