MANILA, Philippines – He was the most bemedaled athlete in the just-concluded 30th Southeast Asian Games and now Carlos Yulo is poised to grab the lion’s share in Wednesday’s cash incentive-giving ceremony at Malacanang.
The Olympics-bound star gymnast Yulo snared two (2) gold medals and five (5) silvers, the most in the biennial meet, stands to receive a total of P3.25 million cash windfall.
What made Yulo three times a millionaire at a young age possible is President Rodrigo Duterte’s promise to give additional incentives to Filipino medalists in the 2019 Southeast Asian Games.
Duterte promised P250,000 for a gold medal, P150,000 for silver and P100,000 for a bronze aside from the stipulated cash incentives for athletes under Republic Act 10699.
Under the law, the incentive system of the Philippine Sports Commission Act (RA 10699) and the Philippine Olympic Committee’s P200,000 bonus for gold medalists, which makes each SEA Games gold worth P750,000.
But strictly speaking, the PSC Act awards P300,000 for a gold, P150,000 for silver and P60,000 for a bronze in the regional meet.
On Saturday, December 14, POC also announced that it will break down the incentives of gold medalists of team events as well as reward the silver and bronze winners in the individual and team events.
The Philippines’ first world gymnastics champion ruled the men’s all-around event and his signature floor exercises event, then settled for runner-up finishes in the vault, still rings, pommel horse, parallel bars and horizontal bar.
Malacañang is expected to give out incentives Wednesday to 149 gold medal winners, 117 silver medalists, and 120 bronze medalists.
With the huge 386 medal haul, the Philippines claimed the overall championship on its fourth hosting of the biennial event. (IAMIGO/CNS)