The 1982 U/Tex Wranglers season was the eight and final season of the franchise in the Philippine Basketball Association (PBA).
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The U/Tex Wranglers had Julius Wayne, a seventh round draft pick by the Portland Trail Blazers in the 1981 NBA draft, as their import for the Reinforced Filipino Conference. The Wranglers lost their first three games of the season, bowed to Mariwasa-Honda on opening day and against Crispa and Toyota, before finally picking up its first win at the expense of Yco-Tanduay, 118-114 on March 25. U/Tex finish the elimination phase with an 8-10 won-loss card. The Wranglers scored a 2-0 sweep off Gilbey's Gin in the best-of-three quarterfinals, they lost to top-seeded San Miguel Beermen in four games in the best-of-five semifinal series.
Qualified in the Asian Invitationals, the U/Tex Wranglers didn't win a single game in the five-team field. In the Open Conference, shooting guard Lim Eng Beng was traded to San Miguel Beer for Alex Tan. Coach Glenn McDonald opted for Leroy Jackson, who led the Wranglers to the finals last season, and Ira Terrell, a former Tefilin import, as their two reinforcements. After 11 games in the eliminations, Terrell was replace by Leo Cunningham, who played only two games before another U/Tex returnee Francois Wise came in to replace Cunningham and team up with Jackson for the rest of the conference. U/Tex were tied with three other teams going into the last scheduled quarterfinal matches. The Wranglers lost to San Miguel, 112-118 on November 23, in what turn out to be their final game. The Walter Euyang ballclub would disband its franchise the following season.