by JOEL C. ESCOL, Managing Editor
The world’s number one Gymnast Carlos Yulo received a substantial financial reward for his outstanding achievements as the Philippines’ first Olympic double gold medalist. During a courtesy call with President Ferdinand “Bongbong” Marcos Jr. at Malacañang on August 13, Yulo, 24, was awarded P20 million from the Office of the President.
This amount is in addition to the incentives he will receive under Republic Act 10699, which grants him P10 million for each of his two gold medals. Yulo also received the prestigious Presidential Medal of Merit in recognition of his exceptional performance.
Additionally, boxing bronze medalists Aira Villegas and Nesthy Petecio were each awarded P2 million from the Office of the President, on top of the P2 million they will receive under the same law. These rewards highlight the government’s commitment to recognizing and supporting the nation’s top athletes.
The Filipino Olympians were also warmly welcomed with both cheers and a significant cash incentive. Each Olympian received a P2-million reward, with P1 million coming from the Philippine Amusement and Gaming Corporation (Pagcor) and another P1 million from the Office of the President. Their coaching staff also received P500,000 each, acknowledging their crucial role in the athletes’ journey.
During the dinner reception, President Ferdinand Marcos Jr. emphasized the immense difficulty of qualifying for the Olympics, describing it as a monumental achievement that warrants recognition regardless of the outcome. He explained that the incentives were a gesture of appreciation for the athletes’ dedication and hard work. However, he humbly acknowledged that the financial reward could never fully compensate for the sacrifices made by the Olympians throughout their rigorous training and competitions.
President Marcos expressed his desire to provide more support for the country’s athletes, recognizing the need to establish formal infrastructure to aid them in their preparations. He called on the Olympians and their coaches to share the challenges they faced during their training so that the government could better understand and address their needs. This collaboration, he noted, is essential not only for future Olympic endeavors but also for other international competitions.
Marcos’s remarks highlighted the government’s commitment to enhancing the support system for Filipino athletes, acknowledging the importance of preparing them for global sporting events. The President’s pledge to work closely with the sports community reflects a broader effort to ensure that the nation’s athletes are well-equipped and supported in their pursuit of excellence on the world stage.
This gesture of rewarding the Olympians and their coaches is a step towards recognizing the immense effort required to compete at such a high level, and it underscores the government’s intent to build a more robust support system for athletes in the future.
