Disbandment
During the 2004-05 PBA season, Shell was rumored to be disbanding after the season because their mother company, Royal Dutch Shell in the Netherlands believed that it was not feasible for them to maintain a franchise in the PBA.
It was believed that port company Harbour Centre was planning to purchase the rights of the Shell franchise. However, both parties did not come into an agreement as Harbour Centre was offering less than what Shell wanted. On August 3, 2005, Shell announced that it was taking a leave of absence from the league.
Before the announcement, Shell traded away most of its players. Tony Dela Cruz and Rich Alvarez were dealt to the Alaska Aces while Ronald Tubid was sent to the Air21 Express. The remaining members of the team were selected through the dispersal draft.
Shell was given a six-month deadline for the team to either return to the league in the next PBA season or sell the team to a prospective buyer. On January 2006, PBL powerhouse Welcoat Paints bought the squad for and entered the league in the 2006-07 PBA season
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