Filipino athletes who clinched medals at the 2024 Paris Olympics are set to receive an array of substantial rewards from both the government and private sector, totaling millions in cash and other incentives.
Winning an Olympic medal not only brings personal triumph and national pride but also comes with significant material benefits. Companies and brands are eager to celebrate and support these athletic achievements with generous rewards.
A notable example is Carlos Yulo, who just became the second-ever Olympic gold medalist in the history of the Philippines by winning the men's floor exercise event at the 2024 Paris Olympics. Yulo’s historic victory on August 3, 2024, will earn him significant rewards. As mandated by Republic Act 10699, he will receive P10,000,000 for his gold medal. Additionally, he will be awarded an Olympic Gold Medal of Valor from the Philippine Sports Commission (PSC).
Further rewards are also pledged by the Philippine Olympic Committee, which has promised a house and lot to gold medalists, continuing the tradition established during the Tokyo Olympics. A property development company has also committed to giving a condominium unit to gold medal winners.
Hidilyn Diaz, who won the weightlifting gold at the 2020 Tokyo Olympics, serves as a testament to the additional rewards athletes can expect. Diaz received P3 million from Max’s restaurant group, a house and lot from Century Properties, and a condominium unit from Megaworld, among other incentives. Business magnates such as Ramon Ang of San Miguel Corporation and Dennis Uy, alongside various public officials, have also pledged millions in support of these outstanding athletes. Similar rewards are likely in store for Yulo and other Filipino medalists.
These incentives reflect the immense pride and support the Philippines extends to its athletes, recognizing their hard work and dedication on the world stage.
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