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The new season of the Philippine Basketball Association (PBA) has yet to dawn upon rookie franchise Meralco, but the Bolts already made it clear that they are definitely building its cornerstone behind big-time gunner Mac-Mac Cardona.

On Tuesday, the Bolts gave the unorthodox shooting guard out of De La Salle a two-year contract extension reportedly worth P8.4 million.

The team actually assumed Cardona's live contract from Talk `N Text, the franchise he played for in his first five years in the league until being traded this off season in a three-team, four-player deal that involved the Bolts, Tropang Texters and the Air21 Express.

But with Cardona serving as Meralco's franchise player in its return to big-time basketball, both parties agreed to exercise the contract extension stipulated in Cardona's original deal.

The contract extension begins to take effect at the start of the 2011-2012 season, according to team manager Virgil Villavicencio.

If Bolts coach Ryan Gregorio would be asked, he stressed Cardona deserves the new transaction the way superstar players like James Yap or Willie Miller do.

In fact, he even likened Cardona to James Yap, the reigning league Most Valuable Player (MVP) whom Gregorio handled when he was still with B-Meg Derby Ace.

"He's like James (Yap) because he is an explosive scorer. He has incredible scoring ways and is hard to stop like James," said Gregorio, one of the Bolts' early valuable acquisitions in the off season.

Cardona's contract extension capped a busy week for the Bolts, who had been signing one player after the other in their bid to be a competitive team once the 36th season of Asia's oldest pro league comes off the wraps on Oct. 3.

The team earlier came to terms with burly center Beau Belga for a two-year deal, while Yousif Aljamal agreed to a one-year contract.

Veterans Marlou Aquino and Jason Misolas were both signed to a one-conference pact.

The four rookies the team tabbed in the recent Annual PBA Draft � Shawn Weinstein, Bam Gamalinda, Ford Arao and Khazim Mirza � had also agreed to the respective contracts given them, while still with existing deals are Ogie Menor, Pong Escobal, Nelbert Omolon and Chris Ross.

"I think everyone is happy with the way the negotiations went," said Villavicencio. "As much as possible, we want to retain players who coach Ryan Gregorio feels can contribute to the team." - RCJ, GMANews.TV