I also saw that video and i could say that PBA is purely business and retiring James Yap's jersey on the team of Magnolia is what a PBA and fan of James wanted to see but politics might have an effect on this matter. There were a lot of players who played for SMC Group of Companies like Danny Ildefonso whose jersey was not retired on the SMB Beermen so i think those three SMC teams are not used in doing this thing.
Maybe they are not doing any move unless if they can use the player to win a championship and provably they don't see that to happen since Yap is out of his prime already so maybe they just think about its just a waste of their slot to sign him back on their team that's why we didn't see that to happen. I guess Yap will not retire as a hot shot and we won't see that to happen since what's more better for SMC team is to win a championship for their team.
Maybe they just cut off the drama since they can only get temporary hype for that and maybe the management didn't see any long term effect that's why maybe they prepared to get more valuable player which can help their team for long term.