MVPSF releases P40.5M incentives for PH Olympians, coaches
MANILA, Philippines—Filipino Olympic medalists have received their monetary incentives from MVP Sports Foundation two days after the Tokyo Summer Games concluded.
In a statement, the MVPSF said it has released a total of P40.5 million to medalists Hidilyn Diaz, Carlo Paalam, Nesthy Petecio, and Eumir Marcial and their coaches along with the rest of the Olympians.
Diaz, the gold medalist in women’s weightlifting, received P10 million while boxing silver medalists Petecio and Paalam, who finished runners-up in women’s featherweight and men’s flyweight, respectively, got P5 million each.
Marcial, a bronze medalist in men’s middleweight, was given P2 million.
“It’s a breakthrough and a milestone event for Philippine sports as we’ve had our best medal haul including our first-ever gold,” said MVPSF Chairman Manny V. Pangilinan in a statement.
“It is only right for the nation and the athletes to celebrate what has been achieved. Once the celebration settles, we go back to work.”
The athletes’ respective mentors also received bonuses from MVPSF amounting to P11 million.
“The MVPSF knows that it takes a village to win a medal in the Olympics. It takes combined efforts from the Philippine Sports Commission (PSC), the Philippine Olympic Committee (POC), and the private sector to help our athletes succeed,” said MVPSF President Al Panlilio. “The coaches also sacrificed as they were away from their families as much as the athletes so they should also be compensated for their athletes’ success.”
Filipino Olympians who didn’t get a podium finish are also set to receive P500,000 with the MVPSF coursing the money to Philippine Olympic President Abraham “Bambol” Tolentino.
The 15 other members of Team Philippines are gymnast Caloy Yulo; weightlifter Elreen Ando; skateboarder Margie Didal; golfers Yuka Saso, Bianca Pagdanganan, and Juvic Pagunsan; pole vaulter EJ Obiena; swimmers Luke Gebbie and Remedy Rule; boxer Irish Magno; rower Cris Nievarez; judoka Kiyomi Watanabe; sprinter Kristina Knott; jin Kurt Barbosa; and shooter Jayson Valdez.
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