Statement of Ricky P. Vargas regarding Noli Eala's Resignation

Noli Eala & Ricky Vargas

SBP Inc.

From sbp.ph: Statement of Ricky P. Vargas. Vice Chairman of SBP,/CEO of Maynilad: Mr. Noli EALA two days ago in a breakfast meeting made known his desire to resign his post as executive director of Samahang Basketbol ng Pilipinas topursue a career in the corporate world. Noli joined the SBP during it’s most difficult years and was able to see thru successfully the return of the Philippines in interational basketball as a member in good standing of FIBA. he was instrumental in giving birth to the men’s elite Smart Gilas and Nokia yeath teams and the successful campaign of the women’s Discovery Perlas team. Noli likewise pused for the improvement of officiating that paved the way for SBP trained referees to officiate in major leagues and invited to international FIBA tournaments. He lobbied and won for the SBO the right to host the FIBA Asia Champions Cup in May 2011. While we understand the reasons behind Noli’s Motivation to move on, we have asked him to stay on as a member of the SBP board and serve out his term of office. At the same time,he will continue his efforts in building international relationship with FIBA. We wish Noli all the best . Cheers.