MANILA -- The team formerly known as Columbian has decided to keep its moniker even as it worked out the transfer of franchise ownership.
Team governor Bobby Rosales said the team could likely be known as Terra Firma Dyip under its new owner Terra Firma Realty Development Corporation.
"Most probably we will be retaining the name of the Dyip, but of course, we can change that. Wala lang Columbian," said Rosales told the league website.
Terra Firma, a sister company of Columbian, owns the assembly plant of all the vehicles under the Columbian group of companies.
It has formally taken ownership of the team after getting the approval from the Philippine Basketball Association (PBA) on Wednesday.
Company reorganization led to the transfer of the franchise.
"Top management decided to streamline its operations. That is the reason of the transferring of the franchise," Rosales explained.
He announced the transfer while assuring that both companies are owned by Palawan Governor Jose Alvarez.
(For more sports coverage, visit the ABS-CBN Sports website).