Sports

Cash bonuses await Filipino SEA Games medalists


Carlos Yulo won the gold medal in the men's floor exercise and still wears the ring.  WOMEN'S POOL GAMES

Carlos Yulo won the gold medal in the men’s floor exercise and still wears the ring. WOMEN’S POOL GAMES

World champion gymnast Carlos Yulo has so far become the biggest winner among Filipino athletes at the 31st Southeast Asian Games not only in terms of gold medals but also he won, but also the monetary value of these victories.

Yulo was assured of a cash incentive of at least P1,700,000 from the government after beating his fiercest opponent in all men’s arts, exercise on the floor, ring, crossbar and vault, where he is the ruler of the world.

According to Republic Act 10699, each of the three individual gold medals collected by Yulo is worth 300,000 Pounds while a silver medalist at the SEA Games will receive P150,000 and a medal VND 60,000.

The 4 foot -11 high energy who made Japan on his practice court also received a silver medal in the parallel bars and shared another silver medal win in the men’s arts team event with Jan Gwynn Timbang, Juancho Miguel Besana, John Ivan Cruz, Justine Ace de Leon and John Matthew Vergara.

With 30 gold, 34 silver and 45 bronze medals as of Monday night, the Philippine Sports Commission will collect at least 22 million PUD in cash based on a law known as the Athletes Incentive and Entitlement Act. and national coach.

Triathlon athlete Kim Mangrobang will also increase her bankroll by 600,000 pesos after winning the women’s title and successively dominating the women’s biathlon while the pole vaulter EJ Obienna may receive an additional monetary reward for breaking his SEA Games record at the discretion of PSC.

However, medal-winning athletes like Yulo, Mangrobang and Obiena can earn more than cash from PSC.

As is the tradition in the current Duterte administration, the President invites these medalists to Malacanang, issues their bounties and awards additional monetary rewards by matching their basic incentives from the government. .

PSC President William Ramirez said: “Knowing the President well, his style is to reward extra cash in addition to the incentives provided by law when athletes visit him in Malacanang.

The law also provides cash incentives for coaches of medal-winning athletes. They will receive 50 percent of the cash bonuses their athletes receive.

Similarly, monetary rewards await medallion teams with a team of four or less receiving the equivalent of the usual individual medal value they won while teams with five members and above are entitled to 25 percent of the total value of individual medals.

These cash bonuses from the government are extracted from the net cash income of the Philippine Amusement and Gaming Corporation, which transfers monetary incentives to the National Sports Development Fund (NSDF) of the Philippines. PSC.

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