Further financial incentives await Filipino medalists at the Tokyo Olympics.
Senator Christopher “Bong ” Go assured Sunday that President Duterte will reward medal-winning athletes with additional cash bonuses on top of what has already been provided for by law.
“I am sure President Duterte is ready to give cash incentives to our athletes who will win medals [in the Olympics]said Go, chairman of the Senate Sports Committee.
Duterte normally distributes additional monetary rewards to Filipino athletes who have won medals in high profile tournaments such as the Olympics, Asian Games and Southeast Asian Games.
When weightlifter Hidilyn Diaz won a silver medal at the Games in Rio de Janeiro in 2016, Duterte gave her another million P2 in addition to the million P5 that Diaz got from the government under the Law of Republic (RA) # 10699, also known as the National Athletes and Coaches Law of Benefits and Incentives.
“It would be risky for the president to go to Tokyo and be there for our athletes. But I assure you that we are giving our full support to our Olympic campaign, ” said Go, Duterte’s longtime special assistant before he became a senator in 2019. The additional commitment of the president’s office will increase the value of an Olympic gold medal, which is now worth at least 30 million pesos following the incentive guarantee from the government and the private sector.
The Philippines team will send 19 athletes from 11 sports to the Olympics, all looking to end the country’s search for its first-ever gold at the quadrennial world sports festival.
No Filipino athlete has won a gold medal since the Philippines team first sent a delegation to the 1924 Paris Olympics.
In addition to the P 10 million award for an Olympic gold medal under RA number 10699, the gold performers will each receive P 10 million from the MVP Sports Foundation (MVPSF) and San Miguel Corp. (SMC) The silver winners will take 5 million P from the government plus another 10 million pesos from the two private companies while a bronze is worth 6 million pesos after the MVPSF and SMC doubled the incentive by 2 million pesos under the law. INQ
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