List of former Philippine Basketball Association teams

Pepsi Mega Bottlers transfer to Lapanday Holdings

When Frederick Dael took over as president of Pepsi Cola Products Philippines, Inc. (PCPPI), which owned the Pepsi Mega Bottlers, changes were made in the company's priorities which would see the team be disbanded.^[1] PCPPI chairman Luis Lorenzo Sr. sought to transfer ownership of the franchise to one of his other entities, and in January 1996, the team's franchise was transferred to Lapanday Holdings, Lorenzo's holding company. The new team became known as the Mobiline Cellulars after partnering with the Pilipino Telephone Corporation (now PLDT Communication and Energy Ventures), now known as the TNT Tropang 5G, with the records of the 7-Up / Pepsi franchise carrying over.^[2]

Tanduay's return

Tanduay's first PBA franchise was owned by Elizalde & Company Inc. It was one of the PBA's founding teams, competing from 1975 to 1987. In 1988, Tanduay was sold to Lucio Tan's Twin Ace Holdings Corporation while the PBA franchise was acquired by Pure Foods Corporation, forming today's Magnolia Chicken Timplados Hotshots.

Tan's LT Group would later bring Tanduay back to the PBA in 1999 with the Tanduay Rhum Masters and with it the records of the company's previous franchise carried over. The new Rhum Masters played until 2002 when the team was acquired by the Lina Group, forming the FedEx Express.

Air21 and Barako Bull switch names

When the Lina Group acquired a majority stake in Energy Food and Drinks, the distributor of Red Bull to the Philippines, the group now owned the Barako Bull Energy Boosters alongside their existing team, the Air21 Express. In the 2011–12 PBA Philippine Cup, the Energy Boosters were renamed to the Shopinas.com Clickers while the Express were renamed to the Barako Bull Energy. In the following Commissioner's Cup, the Clickers were renamed to the Air21 Express, meaning that the two franchises had switched names.

To prevent any confusion, most of the Shopinas / Air21 (II) franchise history and records were separated from the Red Bull / Barako Bull Energy Boosters franchise as if the Lina Group acquired the latter, with the only elements carrying over being the transaction history and lineage. As with most cases, the Barako Bull Energy franchise retained its history and lineage with FedEx / Burger King / Air21 (I).

To create a distinction between the two Air21 franchises, the original is abbreviated as "AIR21" and the second one as "AIR21X" in the official PBA annual, Hardcourt. In some instances, the team records of the original Air21 franchise is "shared" with the second Air21 franchise. An example would be during the jersey retirement of Vergel Meneses – although he played for the original Air21 franchise, his jersey was retired by the second Air21 franchise.

Air21 (II) were acquired by Manila North Tollways Corporation in 2014, becoming the NLEX Road Warriors, while Phoenix Petroleum acquired the Barako Bull Energy in 2016, establishing the Phoenix Fuel Masters.