The Philippine Olympic Committee (POC) vowed to help the Larong Volleyball sa Pilipinas Inc. (LVPI) in recovering the amount it gave to the International Volleyball Federation (FIVB) in exchange for its recognition in 2015.
LVPI vice president Peter Cayco said the new leadership of the POC reached out, promising him that the POC would do everything to recover the $80,000 — or roughly P3.8 million — that the LVPI gave to FIVB as payment to the debt of the Philippine Volleyball Federation (PVF).
The LVPI would no longer contest the election of stakeholders on 25 January that would lead to the formation of a new volleyball body.
In a previous statement, LVPI president Joey Romasanta said they would throw in the towel and cooperate for the sake of peace and unity in Philippine volleyball.
In fact, in an exclusive Daily Tribune story, Romasanta said he would no longer accept any position in the new volleyball federation and retire from Philippine sports, putting an end to a long, colorful stint as a sport leader.
But first, the FIVB must return the fund that the LVPI coughed out as payment to the debt incurred by the previous recognized body.
“Actually, our president is already talking to the POC about getting back our money,” Cayco said, reiterating that they met all conditions, including the payment of the $80,000 debt of PVF, when they were formed in 2015.
“We’ll try our best to bet it back. We already sent them a letter about it.”
Cayco said if nothing happens to their clamor, they would be forced to exercise their legal options, including the filing of charges against the FIVB.
“For us, what is fair must be fair all throughout. They asked us to pay for that amount, now that they changed their minds and want a new NSA (national sports association) in volleyball, it is only fair that they give it back to us,” he said.
“Settling it through legal action is one of the options we are strongly considering. Hopefully, it won’t reach that point and they coordinate with us.”