After the temporary departure of the Magnolia franchise prior to the start of the 1986 PBA season, the league was reduced to only five teams. Alaska Milk was accepted as the league's sixth member. Being a pro league newcomer, the ballclub was allowed to choose players from the pool presented by the PBA. The team will be headed by Filipino-American owner Wilfred Steven Uytengsu, team manager Joel Aquino and their coach is Tony Vasquez, who played for Ateneo de Manila during his playing days and as a coach, he piloted the Ateneo juniors to an NCAA championship and also once mentored the Blue Eagles.