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The 1997-1998 Philippine Basketball League (PBL) season. New Leadership Under New Commissioner Joseller "Yeng" Guiao, PBL games were now held at the newly-built Makati Coliseum. and covered on primetime TV. Makati Mayor's Cup Participating teams(W/ their Imports) - Tanduay Gold Rhum won the Makati Mayor's Cup title over Dazz Dishwashing Paste, 3-2.
PBL All-Filipino Cup Finals Notable Occurrences - Nat Canson replaces Jimmy Mariano as Red Bull/Agfa coach starting the All-Filipino Cup
- Red Bull change its name, returning back to Agfa Colors in the All-Filipino Cup
- Wilkins Distillery joined the league in the All-Filipino Cup
- PBL had a side-event called VisMin Cup
All-Filipino Cup Awards Most Valuable Player - Eric Menk of Tanduay made PBL history, becoming the first player to win both MVP award and the Rookie of the year honors.
Mythical Five (First Team) - Eric Menk (Tanduay, Rookie/MVP)
- Rommel Adducul (Chowking)
- Jomer Rubi (Tanduay)
- Henry Fernandez (Agfa)
- Renato Morano (Welcoat)
Mythical Selection (Second Team) - Danny Ildefonso (Agfa)
- Bobby Jose (Tanduay)
- Brixter Encarnacion (Chowking)
- Gilbert Demape (Welcoat)
- Alvin Magpantay (Tanduay)
- Three-point king title: Jasper Ocampo (Chowking)
- Most Improved Player: Brixter Encarnacion (Chowking)
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