THE Philippine Olympic Committee (POC) will grant cash bonuses to medalists in the recent Cambodia 32nd Southeast Asian Games through its Athletes’ Incentive Trust Fund.
Carlos Yulo gets the biggest cash bonus for winning two gold and two silver medals in men’s gymnastics with veteran swimmer Jasmine Alkhaldi also getting near the top of the list with her three silvers and three bronzes.
POC president Rep. Abraham “Bambol” Tolentino said a total of P12.40 million in bonuses will be distributed to the 260 athletes who won medals—58 golds, 85 silvers and 117 bronzes—in Cambodia.
Of the total bonus, P7.2 million are from the Manuel V. Pangilinan Sports Foundation (MVPSF) and P5.2 million from POC funds.
“The athletes, particularly the medalists, deserve the reward and the POC will always be diligent on that,” said Tolentino, the first POC president who initiated a trust fund for incentives to athletes winning medals in international competitions.
Under the POC’s incentive program, P100,000 will go to an individual gold medalist, P50,000 to doubles and relay teams and P30,000 to team; P50,000 to silver medalist, P30,000 for doubles and P20,000 for relay; and P30,000 to individual silver medalist and P10,000 for doubles and relay.
“The amount is from the generosity of MVPSF, Manny V. Pangilinan, through the efforts of [president] Al Panlilio,” Tolentino said.
Pangilinan is the chairman of the board of trustees of the MVPSF, which is headed by its president Panlilio, who is also the POC first vice president.
The POC bonuses are separate from the government incentives given through the Philippine Sports Commission to medalist athletes under Republic Act 10699 or National athletes and coaches Benefits and incentives Act.
Under the government incentives act, gold in the SEA Games is worth P300,000, silver P150,000 and bronze P60,000.
Yulo won gold medals in men’s all-around and parallel bars and silvers in rings and the men’s team all-around for a total of four medals.