Terrafirma will remain a member of the PBA for at least next season after the league confirmed the failed negotiations with the Zamboanga Valientes.

PBA commissioner Willie Marcial and corporate secretary Ogie Narvasa confirmed that the Dyip and the Valientes ownership reached a “mutual decision” not to pursue the sale during halftime of Friday’s Philippine Cup Finals at Smart Araneta Coliseum.

READ: Three companies now loom as buyers of Terrafirma PBA franchise

“Negotiations bogged down and the deal didn’t materialize between the two,” Marcial said in Filipino. “Terrafirma will still be among our 12 teams for the 50th season.”

Marcial added Valientes owner Junnie Navarro was “so determined” to join the big league loop, especially after emerging as the potential buyer following a failed deal between Terrafirma and shipping line Starhorse.

Narvasa, meanwhile, said the two parties couldn’t reach common ground since the Valientes began discussions with the Dyip officials led by team governor Bobby Rosales.

READ: PBA says Terrafirma sale off after Starhorse fails to comply

“There were separate requirements asked by both parties which they could not agree on, that’s why the deal between the prospective purchaser (Valientes) and the prospective seller (Terrafirma) didn’t push through.”

The two PBA officials were told by Terrafirma that it intends to build up its roster for the 50th season, which opens in early-October despite some departures from some who played in the PBA Philippine Cup.

Stanley Pringle has already signed with Rain or Shine as an unrestricted free agent while veteran Aldrech Ramos, the longest-tenured Terrafirma player, is now with San Juan in the MPBL.

The Dyip are also keeping the rights to Christian Standhardinger and Terrence Romeo, if he opts as a free agent once his contract expires in August. They also own the No. 1 pick in the Rookie Draft in September.