The Philippine Sports Commission (PSC) will earmark P100 million as start-up capital for the multibillion-peso training center intended to house the national athletes in Clark field, Pampanga.
“The PSC has enough savings to raise the mobilization fund and we’re thinking of setting aside P100 million from those savings,” Commissioner Buddy Andrada told the Inquirer yesterday. The PSC has around P800 million in savings, he added.
At least P3.5 billion would be needed to complete the facilities inside the former US airbase with the initial P100 million to cover the planning, architectural design, permits and the construction of a few basic structures, necessities and facilities, among others.
PSC chair Richie Garcia said most of the funding is expected to come from the possible sale of the antiquated Rizal Memorial Sports Complex in Manila.
But if the sale falls through, Garcia said they would find other budgetary sources, including tapping private donors and sponsors for the naming rights of the facilities.
The PSC chief said the relocation of the athletes from various Metro Manila-based sports to Clark gained ground after the House committee on youth and sports development started crafting a bill, which aims to cement the government’s support for the training center.
Andrada said the PSC is also preparing a memorandum of agreement with the Clark Development Corp., the government-controlled corporation in charge of the proposed 50-hectare site.
“Once passed into law, it will help boost the funding of the training center while the MOA will formalize the PSC’s negotiations with Clark,” said Andrada.
Based on studies made by the PSC, the entire complex may be finished in six months using prefabricated materials for the structures and by hiring multiple contractors.