Petron (former Derby Ace/Purefoods) gives up its 2010 1st round Draft Pick in the upcoming PBA Rookie Draft to Air 21 Express in exchange for the 2012 1st Round Draft Pick. This means Petron will have no Draft Pick in the 2010 PBA Rookie Draft (unless they trade some players for a draft pick) since Air 21 also has their 1st round and 2nd round draft picks from the Marc Pingris trade.
Although there were no reason given by Petron management why they gave back the 2010 1st pick to Air 21, maybe because they are stockpiling draft picks for the future since their current players are not that young anymore and also in preparation for 2012 where some Smart Gilas players will enter the PBA draft.
The 2010 PBA Rookie Draft will be held on August 29 at Market! Market in The Fort.