SLR’s Duremdes, Cabagnot traded to Coke
By Nelson Beltran
The Philippine Star 04/05/2007
Sta. Lucia Realty struck a mid-season trade deal with Coca-Cola Tuesday night, giving up three players, including former MVP awardee Kenneth Duremdes and sophomore guard Alex Cabagnot, to ease the burden in its salary cap for the next few years.
The Realtors also released reserve frontliner Recaredo Calimag in exchange for Denok Miranda, Manny Ramos and a future draft pick of the Tigers.
"I had no other choice but to sacrifice one of my marquee players because of our huge payroll. Had I decided to keep Kenneth, we would be forced to play with just a nine-man lineup next season. It can’t be," said Sta. Lucia governor Buddy Encarnado.
"It’s a pity we have to give up Cabagnot. But no one would take Kenneth on a one-on-one trade," Encarnado added.
Before the trade, Sta. Lucia was the only team in the league still paying players a maximum amount of P500,000 a month. Duremdes and Dennis Espino are guaranteed the amount up to December next year.
Marlou Aquino used to receive the same amount until the expiration of his old contract last season. Aquino now gets the maximum pay of P350,000 a month under the revised salary cap rule.
Also under the revised cap rule, Cabagnot, the second round pick overall last season, is guaranteed of the maximum package of P8.5 million in his first three years in the league.
The same package went to Kelly Williams after he was picked No. 1 overall by Sta. Lucia in the most recent Rookie Draft.
"We’re really having a hard time getting players we needed because of our bulging pay ceiling. With this trade, we opened up some room to maneuver next year," said Encarnado.
"Of course, I was saddened by what happened, both players are close to me. But it’s really management’s call to make the deal because of the salary cap. Dennis and Marlou will have bigger responsibilities with the exit of Kenneth, Alex and Ric," said Sta. Lucia coach Boyet Fernandez.
Meanwhile Gary David scored 27 points while Wynne Arboleda added 16 points and nine steals as Air21 clobbered Alaska Milk, 116-104, to force a three-team jam at second place in the Talk n Text PBA Fiesta Cup at the Araneta Coliseum last night.
Shawn Daniels, Arwind Santos, Mark Telan and Niño Cañaleta also delivered key numbers for the Express who caught up with the Aces and the Barangay Ginebra Kings at second with identical 5-2 win-loss cards.
Paul McMillan scattered 41 points and San Miguel Beer finally found the breaks coming its way as it snapped a 10-game losing skid in the season, toppling Talk n Text, 108-103, in the second game.
Duremdes traded to Coke
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