This is the news pertaining to that.
'Offended' Blackwater owner to sell franchise for ₱150M after PBA warning
However, I guess this was just his reaction as he got offended, in reality, he is not really serious about selling the franchise.
If he sells it for ₱150M, will there be interested on that price? is the price fair or just overvalued for an NBA team?
The president's ego might got offended and no reasons to compete anymore.
With the price and all the perks showing your team inside PBA, ₱150M is fair enough if the new owner is looking for long-term business.
This issue with their losing streak only shows that the whole management is not there to compete, but just to use their opportunities to trade
players and earned from the said deal.
I just noticed the adjustment before the game with the handicap, do trapped a lot of gamblers. Good move from the bookies..