The team was named "Slashers" based on the cane knives' slashing motion used by itinerant sugar workers to cut sugarcane stalks. Sugar is the main product of Negros Occidental. Bacolod businessmen Oscar "Dodong" Bascon and Babes Alvarez painstakingly formed the team composed of amateur standouts mostly from the Visayas-Mindanao leagues and former professional players from Philippine Basketball Association. Ronnie "DJ" Dejarlo was the first player to sign a contract with the team. Among the players that formed the team were Maui Huelar, Erwin Framo, Johnedel Cardel, John Ferriols, Allen Sasan and Jack Tanuan. Negrense Rolly Buenaflor was named as head coach.