Olsen Racela is set to take over as head coach of Perpetual Help System Dalta when it competes in Season 100 of the National Collegiate Athletic Association next year.

The 53-year-old Racela had already accepted the offer to replace Myk Saguiguit as bench tactician of the Altas, who have yet to win a title since joining the country's oldest collegiate league in 1984.

Saguiguit, for his part, will stay on the bench as part of Racela's coaching staff.

The Altas badly need a boost in their NCAA campaign.

In fact, they fell short of reaching the Final Four in the previous season after finishing fifth with a 10-8 win-loss record.

The last time they reached the NCAA finals was in 2004 with players like Dom Javier, Marcel Cuenco, and Noy Javier. They, however, got swept by Philippine Christian University bannered by future Philippine Basketball Association players Jayson Castro, Gabby Espinas and Beau Belga.

With Racela's looming appointment, speculations swirled that the San Miguel Corporation will be throwing its full support to the Altas, similar to what it did to Letran College that led to three straight NCAA titles.

Reports have it that Barangay Ginebra San Miguel star Scottie Thompson — one of Perpetual most distinguished alumni — brokered the deal.

After all, Racela is his teammate at Ginebra as he is part of the coaching staff under 25-time champion coach Tim Cone.

But Racela brushed off the reports.

"As far as I know, there's no truth to the news about SMC's support to the Perpetual basketball program," Racela said, admitting that he had already agreed in principle to handle the Altas.

"What I can confirm is that there have been talks between myself and Perpetual management regarding the head coaching job of their men's basketball team."