Terrafirma Dyip sending CJ Perez to San Miguel Beermen for three players, No. 8 pick

The Terrafirma Dyip's proposed trade that will send star guard CJ Perez to the San Miguel Beermen for guard Gelo Alolino, center Russell Escoto, and wingman Matt Ganuelas-Rosser and the No. 8 pick in the coming PBA rookie draft is "fair", team governor Bobby Rosales told ESPN5.com.

"Yes, we've already filed a proposal and this is just between our team and San Miguel," Rosales said in a text message confirming the transaction Friday afternoon.

The trade is still subject to the approval of the league's trade review committee. The Philippine Star was the first to report on the proposed trade.

Perez, the top overall pick in the 2018 draft, averaged 24.4 points, 6.8 rebounds, 4.3 assists, 2.0 steals, and 3.3 turnovers in the PBA bubble where he was nominated for Best Player of the Conference. He is currently in the Gilas Pilipinas bubble at the Inspire Sports Academy in Calamba.

Escoto, who was the Dyip franchise's pick in the 2016 Gilas draft, averaged 1.9 points, 2.9 rebounds, 0.8 blocks. Alolino had bubble numbers of 2.2 points, 0.4 rebounds and 0.8 assists. Ganuelas-Rosser skipped the bubble and opted to remain in the United States.

"Honestly I believe it's a fair trade," Rosales said. "That's how I look at it. People may look differently at it. But it's a good deal."

While acknowledging Perez's upside, Rosales reiterated their belief that the trade, if approved, was fair.

"If you want to get someone of value, you have to be willing to give up someone also of value to consummate the trade. I don't think it's a one-sided trade. I hope they can also see now we have two first round picks."

The team governor said it was painful to trade a player of Perez's caliber, but by getting another first round pick in a loaded rookie draft, the team believes they can stock up on young talent.

"The draft is very rich in talent so you have to look at where our position is," Rosales said. "We have the No. 1 pick but the next chance to take a pick in draft is [at] 25th which is in the third round. Second round [pick] we traded it in a previous deal. We believe in this coming draft, the second round pick is as equally important as first round because of the talent. So when we were given the opportunity to get the first round pick of San Miguel, we thought we'll be able to get [another] talent from the pool.

"Plus we will be getting some players from San Miguel which we believe we are looking for."

Rosales also thanked Perez for the two seasons he spent with the franchise, which is still searching for its breakout season.

"We're very happy that he was part of our team the past two years," Rosales said. "He was able to also impart his knowledge to many of his teammates. He is respected and he gave us a good name. Unfortunately you need a real good team, and no single player can give you victory. CJ has been very diligent in practices, respectful, and we owe him a debt of gratitude for his service . We wish him luck. We hope he can blend well with his new teammates and new management."

This story has been updated. ESPN5.com's Sid Ventura contributed to this report.