Rain or Shine is set to trade shooting guard Ronjay Buenafe to Meralco in exchange for the Bolts’ 2014 first round pick, according to sources.
The deal is expected to be finalized and submitted to the PBA for approval shortly. Prior to the deal, Buenafe signed a three-year contract.
The two teams earlier had a tentative deal to swap picks in this year’s draft. Rain or Shine were in talks to trade its No. 7 pick to Meralco for the 2014 pick.
But the Elasto Painters found an opportunity to draft Chris Tiu with the pick, and decided to keep it for themselves.
Buenafe is coming off a season that saw him post career-lows in minutes played and scoring, likely due to Rain or Shine’s depth. But he was still a key cog in the Elasto Painters’ title run in the Governors’ Cup.
The Bolts have been active on the trading front this offseason, with reports that they have tried to deal for Alaska star guard LA Tenorio. With that trade falling apart, they focused their eyes on Buenafe, who gives them another shooter and slasher to complement Mac Cardona and Sol Mercado.
For the Elasto Painters, the deal gives them flexibility to give more playing time for Tiu, who is expected to play both guard positions for Rain or Shine. Last year, after drafting Paul Lee, the team also made similar moves, releasing RJ Jazul to Air 21 and sending Josh Vanlandingham to Powerade in a deal prior to the draft.
Under coach Yeng Guiao, Rain or Shine has had success dealing assets with a look toward the future. Two seasons ago, the Elasto Painters gave up stars Sol Mercado and Jay-R Reyes in a deal that netted them Buenafe, Beau Belga, Ronnie Matias, and two first round picks, one of which turned out to be Lee. The deal was the first step in the team’s buildup that culminated in its recent title.
Rain or Shine also announced that it has re-signed JR Quinahan, Ronnie Matias, Chito Jaime and Jonathan Uyloan. “Quinahan has just signed a three-year deal, Matias was given a two-year deal while Jaime and Uyloan both were given one year each,” said team executive Mamerto Mondragon.
Mondragon added that Chris Tiu, the team’s prized rookie recruit, will officially sign a three-year deal on Wednesday.
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