The Alaska Aces traded Chris Banchero to the Magnolia Hotshots in exchange for Rodney Brondial and Robbie Herndon.
The deal became official on Sunday, according to PBA commissioner Willie Marcial.
Selected fifth overall by Alaska in 2014, the 30-year-old Banchero averaged 10.1 points, 4.8 rebounds, 4.3 assists and 1 steal in 30 minutes per game for the Aces this conference. He played five seasons for Alaska, but is still in search of his first PBA championship.
"I really feel with the parts that we need, [Brondial and Herndon] will fit in perfectly. And to get something, you always have to give up something," Alaska coach Jeff Cariaso. "So, Chris Banchero is a really good player, he's done a lot for us here at Alaska. But, in all honesty, he was the only player teams wanted. He was the only tradable player on the team. So for me to sort of try to bring in and bring in the parts that I need, sometimes you have to give up something."
Meanwhile, Brondial will be reunited with Cariaso, who served as Barangay Ginebra's coach briefly in the 2014 season. Back then, Brondial played for the Kings after they chose him with the sixth overall pick in the 2014 PBA Rookie Draft.
Brondial averaged just 0.67 points for Magnolia, but managed to average 3.0 rebounds in his 4.98 minutes of play per game for the Pambansang Manok.
Herndon has seen minimal action for Magnolia this season, playing in a loaded backcourt that includes Paul Lee, Mark Barroca, Jio Jalalon and Justin Melton.
He averaged 2.57 points and 2.14 rebounds for Magnolia before the trade to Alaska.
ESPN5's Eros Villanueva contributed to this report.