MANILA, Philippines -- (UPDATED) The Premier Volleyball League (PVL) will be the latest league to join the professional ranks, with a formal announcement scheduled for Friday.

This comes after Chooks-to-Go Pilipinas 3x3, the National Basketball League, and the Women's National Basketball League all turned professional earlier this year.

The stakeholders of the PVL, led by Sports Vision president Ricky Palou, are set to announce details of their decision on Friday in a briefing together with the Games and Amusements Board (GAB).

Palou told Tiebreaker Times that they received the assurance of GAB chairman Baham Mitra regarding some of the financial concerns that come with turning professional.

"We sat down with (Mitra) three to four weeks ago. Ang worry namin is the financial aspect," said Palou. "He assured us na, 'Hindi kami BIR.'"

In a previous interview with ABS-CBN News, Palou said it will be up to team owners to decide whether or not to turn professional. After consulting with them last week, "all teams agreed to go pro," according to Palou.

It remains to be seen, however, if the Spikers' Turf will follow suit. The pioneering men's league featured 24 teams in 2019 and was crucial in preparing the Philippine men's national team for its historic run in the 30th Southeast Asian Games last year.

"I haven't been able to talk to the team owners. We also like to move that way," said Palou. "If the women are turning pro, why not the men?"

The PVL was founded in 2004 as the V-League and was backed by Shakey's for several years, before rebranding in December 2016. Currently, nine clubs compete in the PVL.

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