Bacolod businessmen Oscar "Dodong" Bascon and Babes Alvarez painstakingly formed the team composed of amateur standouts, mostly from the Visayas-Mindanao leagues and former professional players from the Philippine Basketball Association.

Among the players that formed the team were Maui Huelar, Erwin Framo, Johnedel Cardel, John Ferriols, Allen Sasan and Jack Tanuan.

Tragedy struck the team on the eve of their third game in Cebu City when their main player, DJ Dejarlo, was found dead in hotel room due to pancreatitis.

The Negros Slashers were grouped together with the Cebu Gems, Iloilo Volts, Davao Eagles, Socsargen Marlins and Cagayan de Oro Nuggets in the Southern Conference division.

Things looked rosy for the Negros Slashers after winning the Southern Conference crown and finishing runner-up to MBA National Champions Pampanga Dragons.

Among the new recruits for the Slashers were center Mike Otto, former Iloilo Volts forward Judge Primero, former PBA veterans Romy dela Rosa and Roel Bravo.

During the season's second round of elimination, the Slashers roster underwent a major revamp following the exit of star center Jack Tanuan, who suffered a kidney disease which left him blind in the right eye.

But Labayen only played until the first game of the semifinal round as the Bureau of Immigration cracked down on Fil-foreigner players who were found to be fake or lacking work documents.

The bigger and more skilled Mitchell teamed up with Cebu's main gunner Dondon Hontiveros to lead the Gems against the Slashers en route to the Southern Conference Finals vs the Iloilo Megavoltz.

With the Slashers losing their Southern Conference title to their bitter rivals, they released Lito Aguilar, hometown players Nonoy Sayon and Ryan Gamboa, Dean Labayen and Dorian Pena, during the offseason.

They signed up Dennis Madrid, Ruben dela Rosa, Cid White from Nueva Ecija Patriots, and Alvin Teng from the Laguna Lakers.

The team relied heavily on its regular rotation of Ferriols, Cardel, Huelar, Bat-og, Hugnatan, brothers Romy and Ruben dela Rosa, White and newly acquired Dino Aldeguer.