MERALCO signed Mark Cardona to a two-year “extension” reportedly worth P8.4 million that will take effect at the start of the 2011-12 season of the Philippine Basketball Association (PBA).

Cardona, who was acquired by the Bolts from Talk ’N Text in a three-team trade that also involved Air21, has a year left from his previous deal with the Tropang Texters. But Meralco decided to put a lock on him for two more seasons.

Beau Belga, who was part of the deal, was also given a two-year contract and Yousif Aljamal inked a one-year contract with a monthly take of not more than P250,000, according to Meralco team manager Virgil Villavicencio.

Jason Misolas was also given a one-conference renewal by the Bolts management, which also gave veteran center Marlou Aquino the same pact two weeks ago.

“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 could contribute to the team.”

Meralco rookies Bambam Gamalinda, Ford Arao and Khazim Mirza were also signed to one-year contracts.

Villavicencio added that the team finally closed a deal with its No. 10 overall pick Shawn Weinstein, whom they acquired from Alaska for Bonbon Custodio.

Weinstein sought a two-year deal with a monthly pay of P150,000 in the first year and P200,000 in the second year, but Meralco gave him a counteroffer that was relatively close to what he wanted.

The Bolts said Weinstein’s asking price is too much for a player who was selected at No. 10.