Bo Perasol, who signed in as successor to Norman Black as coach of Ateneo, is leaving the Blue Eagles even before he could warm up the bench in a dramatic development seen as an offshoot of the departure of businessman Manny Pangilinan as the school’s basketball “godfather.”
Perasol will move to his alma mater University of the Philippines as consultant. Pangilinan has recently endowed UP with a P5-million grant.
Blue Eagles team manager Paolo Trillo confirmed the move yesterday after Perasol and school president Fr. Jett Villarin, SJ, met on Monday afternoon to discuss the contract signed by the former early in the UAAP season that saw the school winning its fifth straight crown.
“We have mutually agreed to release each other from the obligations of the contract,” Villarin said in a statement that was relayed by Trillo.
With the confirmation of Perasol’s departure from Loyola, his likely destination will be UP where he is reportedly being tapped as consultant to coach Ricky Dandan with the blessings of business tycoon Manny Pangilinan.
It was earlier reported that Pangilinan recommended the appointment of Perasol as Ateneo coach. The former Powerade mentor signed a deal reportedly for three years.
But last month, Pangilinan announced his decision to part ways with the school, citing differences with the school’s stand on the mining and the RH bills pending in Congress. Pangilinan’s departure from Ateneo has been seen as greatly affecting the university’s basketball program as it will now lose financial backing from the businessman.
Pangilinan said in an interview days after the announcement that he will take care of Perasol if he and the school fail to come to an agreement to continue the contract.
With yesterday’s announcement, it appears there is no longer common ground for Perasol and Ateneo to work together.
As for who will be the next Ateneo coach, Trillo said it may take a long period for the school to make an announcement but insiders see Black’s chief lieutenant Sandy Arespacochaga as likely successor.
Arespacochaga once coached the Eagles in 2004 but despite a 7-0 start and a UAAP career-ending ACL injury to Larry Fonacier, the team fumbled late and was eliminated in the Final Four by La Salle.
“I am not in a position to say who will be the likely successor but Fr. Jett left for the US so it may take time for him to decide,” said Trillo.
Meanwhile, Villarin announced yesterday that the school will set up a Basketball Endowment Fund to make up for the loss of Pangilinan’s support.
In a memo, Villarin said that “We are now assembling a team who will assess the current cost profile; define funding targets; establish strategic and operational policies and structures; develop a set of viable goals and initiatives for the BEF; and organize marketing and promotions campaigns, among other things” and has appointed team chaplain Fr. Nemi Que, SJ, to oversee the fund drive.
One source said the school is targeting P250 million to fund the operations and advancement of not just the men’s basketball team but also the juniors’ and women’s teams.
