Barako Bull's reported plan to sell its franchise has apparently been shelved after it agreed to a deal with Harbour Centre to sponsor the team in the PBA Fiesta Cup, opening the door to the possible entry of businessman Mikee Romero in the country's only professional sports league.

Barako Bull representative Raffy Casyao said Friday that the PBA board has approved in principle Romero's role as sponsor of the Energy Boosters under the Harbour Centre banner.

Romero has made no secret of his dream to join the PBA, announcing his plan after the Philippine Patriots, a team he co-owns, captured the Asean Basketball League title two weeks ago.

The Barako Bull official said that the idea of co-branding or sponsorship can be beneficial to the league as interested companies like Harbour Centre will now have a chance to test the waters in the PBA before venturing to a long-term program.

He added that this can pave the way for the league's expansion plans or taking in two more teams in the next season. The PBA currently has 10 teams.

The Fiesta Cup is set to open March 21 and Barako Bull is still looking for an import. Some players of Romero in the RP Patriots like PBA free agents Rob Wainwright and Jerwin Gaco are trying out for slots with the Leo Isaac-mentored Boosters.

Barako Bull has until Monday to submit the terms and condition of the deal to PBA Commissioner Renauld "Sonny" Barrios before it becomes official.

Casyao said that it's pure sponsorship for Romero, a well-known basketball supporter whose teams ruled the Philippine Basketball League, winning a record seven championships, and also guiding the Philippine Patriots in capturing the ABL title.

According to Casyao, Harbour's participation will be limited to providing financial assistance to Barako Bull whose money woes have put the team under severe stress in which the salaries and allowances of players and other personnel were reportedly often delayed.

"We still have to submit the agreement, that's basically the requirement. But it's already approved in principle by the board," Casyao told The Bulletin in a phone interview yesterday, adding that nothing will change, including the franchise ownership.

A logo and name of Harbour Centre will be put at the back of the players' jerseys, but in terms of basketball operations, Romero will have no say on any decisions, Casyao said. The amount has yet to be decided by Romero and Barako Bull owner George Chua.

The idea of co-branding or sponsoring a team was actually approved by the board during the off-season to give financially challenged teams, particularly Barako Bull, special consideration.

"We're financially challenged, we don't deny it," said Casyao, who denied reports that their company is selling its PBA franchise to Meralco.

Casyao said that in the previous Philippine Cup, Yakult was considered to be a sponsor but plans didn't push through. - www.mb.com.ph