Carlos Yulo to get millions worth of incentives after gold medal win

Carlos Yulo to Team Philippines, celebrates after winning the gold medal during the men’s artistic gymnastics individual floor finals at Bercy Arena at the Paris Olympics 2024, Saturday, Aug. 3, 2024, in Paris, France. (AP Photo/Charlie Riedel)

MANILA, Philippines — Millions worth of incentives await Paris Olympics 2024 men’s floor exercise gold medalist Carlos Yulo and other potential winners from Team Philippines when they come home to celebrate their success.

Yulo became the country’s second Olympic gold medalist after 2020 Tokyo Games weightlifting champion Hidilyn Diaz. He also emerged as the first Filipino gymnast to win it all when he ruled the floor exercise final, edging erstwhile defending champion Artem Dolgopyat of Israel.

The 24-year-old gymnast’s life is about to change as he is set to receive a P10 million incentive from the Philippine Sports Commission — under Republic Act 10699 or National Athletes and Coaches Benefits and Incentives Act.

READ: Incentives continue to pour for Carlos Yulo after his double gold feat

Yulo will also receive a fully-furnished two-bedroom unit worth P24 million in McKinley Hill from Megaworld, while Philippine Olympic Committee president Bambol Tolentino also pledged to reward the winners a house and lot like what he did for Diaz and 2020 Tokyo Olympics silver medalists Nesthy Petecio and Carlo Paalam, and bronze medalist Eumir Marcial.

The House of Representatives will also hand P3 million to Yulo, while Vikings,  Tipsy Pig, and other restaurants have pledged a lifetime of free food.

When Diaz ended the 97-year gold medal drought of the Philippines, she received over P50 million in incentives including several houses and lots, condo units, lifetime of free flights, gasoline, and other products. 

Yulo will also receive an Olympic Gold Medal of Valor from the PSC.

As incentives are expected to continue to pour in Yulo’s victory, he has another chance to win another gold in the vault apparatus final on Sunday.

READ: Gymnast Carlos Yulo gives PH its second Olympic gold

The remaining Filipino athletes including semifinalist Aira Villegas and pole vault finalist EJ Obiena have a chance to receive a cash incentive depending on their rankings as P5 million awaits the silver medalist, while P5 million for the bronze finisher.

Coaches of the medalists will also receive a cash incentive as long as they have trained the athlete for more than six months.

For track and field athletes Obiena and hurdlers John Cabang and Lauren Hoffman, International Container Terminal Services, Inc. (ICTSI) pledged P5 million for the gold medalist and P2.5 million for the coach, P3 million for the silver medalist and P1.5 million for the coach, and P2 million for bronze and P1 million for the tactician.