MANILA, Philippines – Businessman Manuel V. Pangilinan is ready to sponsor the University of the Philippines (U.P.) and its basketball team.

Speculations started to fly when the Twitter account of online news portal Interaksyon tweeted quotes from Pangilinan’s speech at the University of the Philippines’ celebration of fraternity Alpha Sigma’s 50th anniversary on Wednesday, October 10. Pangilinan was named “honorary brod” – the first person to ever receive such a recognition.

At that event, Pangilinan pledged P5-million to UP, Interaksyon tweeted.

In the same speech, he voiced his fondness for the UP men’s basketball team. He said they look like they are good guys.

“I like the UP spirit in basketball. Natatalo, ang yayabang pa rin (They lose but they’re still confident),” he was quoted as saying.

Pangilinan also spoke highly of UP and its contributions to the nation and its cooperation with the companies he owns. He said he knows the problems and limitations of the state university, due to the minimal government funding it receives.

The speech comes after Pangilinan pulled out his longtime support for Ateneo de Manila University, his alma mater, on Friday, September 21. He cited the university’s stand on several contentious issues, including the Reproductive Health bill and mining, which he said he disagreed with.

Pangilinan has been credited for heavily funding Ateneo’s endeavors, especially the men’s basketball team — which helped fuel the team to its 4th straight title in 2011.

The speech emphasized that Pangilinan looked to funnel his money elsewhere.

“The last time the Maroons won the UAAP championship was when Alpha Sigma was just about to turn 25 years. Now that you’re on your 50th, I’d like to take this occasion to make a humble contribution to UP,” an Interaksyon article quoted Pangilinan as saying.

“Let this gift be an expression of my commitment to the future of UP,” he said. – Rappler.com