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Ceres Negros in talks with new investors

July 08, 2020 - Wednesday 7:07 PM by PNA

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MANILA – The reigning Philippines Football League (PFL) champion is set to get a major makeover.

Ceres Negros said on Wednesday that the club is currently negotiating with investors who would become its new owners.

"Ceres Negros Football Club is currently in talks with investors who will be taking over the management and ownership of the club in preparation for the fourth season of the Philippines Football League, as well as the resumption of the campaign in the AFC Cup," the Bacolod-based team said in a statement.

The opening part of Ceres Negros' statement in itself quashed rumors of the squad disbanding.

On whether the club will still represent "The City of Smiles" remains uncertain at this point, as a name change is now imminent.

"As soon as the takeover is completed, the club will no longer be known as Ceres Negros since our current chairman Leo Rey Yanson will not be involved in any way in the affairs of the club," it added. "We will be announcing the new name, new owners, and management of the club soon."

According to the club, "This is one of the toughest decisions made by Mr. Yanson, whose passion for football was reflected at the way he poured his personal resources and steered the club to unprecedented heights since it was formed eight years ago."

The club then clarified, "Ceres has made its best efforts to compensate its players and staff."

Ceres Negros shocked the Philippine football scene in 2013 after beating Stallion Laguna, Global Makati, and Kaya Iloilo, then stalwarts in the United Football League (UFL), in the playoffs of the Smart-PFF National Men's Club Championship in only its second year in existence.

Ceres Negros put a happily-ever-after ending to its Cinderella run after edging another UFL side, Pasargad, in the final to capture the cup title.

The following year, Ceres Negros decided to join the UFL, and the club would go on to dominate the second division en route to promotion to the top flight.

The club's magical early years spilled to 2015 after winning the UFL title in the first division, the first time in Philippine football history that a club captured the top tier title fresh from promotion.

Ceres Negros was among the pioneering members of the PFL in 2017 alongside Global Makati, the de facto defending champion then since it ruled the 2016 UFL season, Stallion Laguna, and Kaya Iloilo.

Ceres Negros reigned in the first three years of the league's existence since it took over from the UFL.

Ceres Negros completed a domestic double last year after winning the Copa Paulino Alcantara. Ivan Stewart Saldajeno

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