Terrafirma Dyip stays, sale to Zamboanga fails

Terrafirma Dyip will continue playing in the Philippine Basketball Association (PBA) for its 50th season after negotiations to sell its franchise to Zamboanga Valientes failed.

League commissioner Willie Marcial and corporate secretary Ogie Narvasa confirmed during halftime of Friday's Philippine Cup Finals that both parties reached a 'mutual decision' not to pursue the sale.

Terrafirma governor Bobby Rosales revealed plans to strengthen the squad's lineup, despite some departures from players such as Stanley Pringle and Aldrech Ramos.

The PBA confirmed that Terrafirma is currently not for sale and there are no other franchises actively seeking buyers.

According to legal counsel Ogie Narvasa, both parties had specific requirements and terms they could not agree on, leading to the halt of the sale process.

Terrafirma has struggled in recent seasons, failing to reach the playoffs in all three conferences this year with a record of 3-30.