Philippine sports, pushed down the hierarchy of needs during the coronavirus pandemic, might just have found a lifeline.
With the country’s sporting war chest diverted to fund the fight against the health crisis, top corporations are pooling their resources to boost the Philippine program.
Reminiscent of the “Sports Godfathers” projects in the 1980s, the plan is to set up the Philippine Business for Sports Development, according to former Philippine Olympic Committee president and now board member Ricky Vargas.
Telecommunications tycoon Manny V. Pangilinan broached the idea of a wider corporate support for Philippine sports. The project has been gathering steam and Vargas, the boxing association chief, said the group has already drafted their bylaws.
“This will be [a group] of businesses [and] private companies that will … try to help sports,” Vargas said during a recent Philippine Sportswriters Association Forum.
The move could mitigate budget cuts made by the Philippine Sports Commission (PSC), which cut down athlete allowances by 50 percent and is planning a momentary pause on giving allowances to athletes from team sports. This, after the Department of Budget and Management asked the PSC to redirect a huge slice of their budget to government efforts against the pandemic.