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Php 30M awaits for the first Filipino athlete gold medalist in Tokyo Olympics

Filipino athletes have 30 million motivations, and reasons to take home a gold medal in the Tokyo Olympics set to kick from July 23 to August 8.

                                       image source: https://www.spin.ph/

Philippine Olympic Committee (POC) President Abraham "Bambol" Tolentino said that San Miguel Corporation Head Ramon S. Ang pledged to match the rewards set forth by the Republic Act No. 10699 or the National Athletes and Coaches Benefits and Incentives Act for Olympic medalists. 


Signed by the late President Benigno Aquino III in 2015, RA 10699 entitles a Filipino Olympic gold medalist to P10 million while P5 million and P2 million for silver and bronze winners, respectively.


On July 8, the Manuel V. Pangilinan Sports Foundation (MVPSF) also dangled a P10 million incentive for the gold medalist. It formalized its decision to add another P5 million for silver and P2 million for bronze winners.


"We hope the monetary reward we've set aside will give them the extra push to really go all out and win the country's first-ever gold medal in the Olympics. We've been waiting for the Olympic gold medal for so long, and we know it will inspire the entire nation," said MVPSF President Al Panlilio.


The cash incentives now hiked the total cash prize of P30 million, P15 million, and P6 million for gold, silver, and bronze medalists, respectively. Tolentino himself will also award an additional house and lot in Tagaytay for the gold winner.  


According to Tolentino during the Philippine Sportswriter Association forum, "Nagpapasalamat ako sa MVPSF and I'm officially announcing na nagpapasalamat din ako kay Mr. Ramon Ang of San Miguel na nag-commit na din ng same amount."


Nineteen (19) Filipino athletes headed to Tokyo for the Olympics 2021 to bring home the first-ever gold medal.


In reference to the 2019 Southeast Asian Games tagline, Tolentino exclaimed, "This is our time; we'll win that gold as one."



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