Lawmakers increase PH Olympians’ cash grants; Carlos Yulo gets P14M
RECEPTION AT THE PALACE President Marcos, first lady Liza Araneta-Marcos, and their children receive Filipino Olympians, led by double gold winner Carlos Yulo, at Malacañang on Aug. 13, 2024 where they were given honors following their participation in the 2024 Paris Olympics. | PHOTO: Official Facebook page of Bongbong Marcos
MANILA, Philippines — Lawmakers have increased the cash grants given to the Philippine delegation to the 2024 Paris Olympics, with two-time gold medalist Carlos Yulo now getting over P14 million from the House of Representatives.
During the Congressional Reception for the athletes on Wednesday, it was announced that lawmakers mounted an additional cash incentive for Yulo on top of the P3 million per medal previously pledged by the House.
Article continues after this advertisementREAD: Gymnast Carlos Yulo gives PH its second Olympic gold
“Aside from the P6 million, all House members gave a cash gift for our gold medalist, and this is amounting to P8,010,000,” the program host said.
Speaker Ferdinand Martin Romualdez and House committee on accounts chair Rep. Yedda Marie Romualdez presented the congressional medal of distinction to Yulo.
Article continues after this advertisementYulo made history as the first Filipino to secure two gold medals in a single Olympics, winning in the men’s artistic gymnastics finals and the men’s vault finals.
Bronze medalists Nesty Petecio and Aira Villegas also received additional cash incentives.
“Our House members again raised funds as gifts for our bronze medalists, where each of them will receive P2.5 million each,” the host said.
Other athletes from the Philippine delegation will receive P500,000 each.
During the program, copies of the resolutions congratulating the athletes, trainers, and sporting officials were distributed.
Romualdez, meanwhile, thanked the whole team for making the country proud.
“You athletes, our Olympians, have become the inspiration of the whole Philippines. The glory you brought to the country because of your participation at the Olympics in Paris and bringing home medals was a great opportunity to show the guts of Filipinos competing across the globe,” he said.
“We in the House of the Representatives, the House of the People are honored by your victory, by your achievement. We want to thank each and every one of you athletes, of course, the coaches and the family that all supported you, for you have made this all possible,” he added.
Yulo and other athletes are also set to receive incentives from private companies and government corporations.
Last Aug. 6, the Philippine Amusement and Gaming Corporation (Pagcor) said it is mandated to provide a cash grant of P10 million per gold medal won at the Olympics. This means Yulo would get P20 million, Pagcor Chairperson Al Tengco said.
Coaches and trainers of all gold medal winners in the 2024 Paris Olympics will get a P5 million incentive per medal.
READ: Romualdez vows House to continue backing PH sports programs, athletes
With reports from Ysabel Escalona, trainee
Follow Inquirer Sports’ special coverage of the Paris Olympics 2024.
