A transfer of the Dyip franchise from Columbian Autocar Corporation to its sister company Terra Firma Realty Development Corporation has been approved Wednesday by the PBA Board of Governors.
Commissioner Willie Marcial said that Columbian only has to submit a couple more documents to seal the transfer.
"All of the production by Peugeot, Mahindra and BMW are under Terra Firma," Marcial said in Filipino. "Based on what's happening now, I can see that the franchise is more suitable so it was transferred to Terra Firma."
The Columbian franchise entered the league as an expansion team in 2014 along with Blackwater Elite and drafted Manny Pacquiao as its playing coach with the 11th pick in the rookie proceedings.
It started out as KIA Sorento in its first season before adopting other tags in KIA Carnival, Mahindra Enforcer, Mahindra Floodbuster, KIA Picanto, and more recently, Columbian Dyip in 2018.
The franchise, which has only one playoff appearance in 2016 to show for itself, is expected to continue relying on CJ Perez, last season's Rookie of the Year, as well as 2019 first overall pick Roosevelt Adams once the league resumes play sometime in the future.