Not to belittle Sy's BLACKWATER bid for the PBA ...... I have serious doubts that Sy can bankroll a sustained PBA franchise - not unless he aligns with SMCorp and becomes their 4th farm team.
Farm teams make very lucrative deals ex. Arwind Santos for P20M.
Though NLEX is another MVP team, it's easily the lesser evil than having another SMCorp farm team.
PHOENIX Petroleum made a serious bid a few years ago, only to be shot down by the SMCorp main & farm teams ....... maybe this time, they can bid again.
CEBUANA Lhuillier would make an ideal addition to the PBA ....... its independent, has resources & more importantly, it can add a much needed regional flavor to the PBA.