The Ceres-Negros Football Club in the Philippine Football League is looking for new owners.
The club is currently in talks with investors, who will be taking over the management and ownership of the team.
Because of this, the Ceres Busmen will have a new name under a different franchise in the coming days.
The team was preparing for the fourth season of the PFL and the Asian Football Confederation Cup.
Team officials confirmed this in their official website after team members emerged from home quarantine during the months that the country went into a series of lockdowns to control the spread of the coronavirus pandemic.
Last week, the Inter-Agency Task Force on Emerging Infectious Diseases finally allowed the resumption of practices for basketball and football.
“As soon as the takeover is completed, the club will no longer be known as Ceres-Negros,” said the club in their statement.
Officials said current chairman Leo Rey Yanson will not be involved in any way in the affairs of 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,” club officials added.
They added that while the pandemic has struck hard on businesses all over the world, “Ceres has made its best efforts to compensate its players and staff.”
Ace Bright, who is the general manager of the club, will be the point person with regards to the planned transfer of ownership.
Bright will also be around during the the transition to the new management and owners of the club.
The change taking place in the team’s franchise came almost a week after famed Azkals’ booter James Younghusband said goodbye to his teammates, his coaches and his team as he announced his decision to retire.
A few weeks ago, the 33-year-old Younghusband said he made up his mind to just hang his jersey while at staying at home and spending a lot of time with her sister while in home quarantine for the last three months.
He said his plans to retire took shape last year when Ceres FC won its second of three crowns in the Philippine Football League with him around.
When the coronavirus pandemic hit and the Busmen’s games in the Asian Football Confederation 2020 Cup got cut short, that was when Younghusband finally made up his mind.