Subic Bay was closed because the Philippines wanted to more than double the agreed upon rent by the United States and the US refused. It had nothing to do with property loss due to theft.
Further, Clark Air Base was destroyed by the volcanic eruption and the whole situation had changed.
“Subic Bay was closed”
Oh look, after decades, somebody happened to buy it just before the US Goobermint decided they needed it.
Apr 22, 2022 — The U.S.-based private equity firm Cerberus Capital Management has completed its purchase of the Subic Bay shipyard in the Philippines
Gee, isn’t that just a coincidence.
10% for the Big Guy