Incentives continue to pour for Philippine gymnast Carlos Yulo after double gold feat

MANILA - Philippine gymnast Carlos Yulo is set for a major windfall with his unprecedented success in the Paris Olympics, having become the first Filipino to win a pair of gold medals in the Summer Games.

His incentives from his gold medal haul are expected to continue to increase, if not double, as more private companies pitch in to reward the most successful Olympian the Philippines has ever produced after his gold medal win in vault on Aug 4.

As of Aug 5, Yulo is already guaranteed 32 million pesos (S$732,000) in cash incentives - with 26 million pesos from the government and 6 million pesos from private companies - and a three-bedroom condo unit.

He also doubled his incentive from the House of Representatives as he is now to receive a total of 6 million pesos – 3 million pesos for each of the gold medals he won – according to House Speaker Martin Romualdez.

“We want to make sure that they are equally inspired and equally acknowledged and rewarded for their achievements,” Mr Romauldez told the beat reporters.

Property developer Megaworld, which had promised to give an Olympic medalist a fully-furnished two-bedroom unit worth P24 million in McKinley Hill, upgraded Yulo’s prize to a three-bedroom unit worth a million pesos with appliances, furniture, fixtures, two balconies, and a parking lot.

“Since this is a very significant milestone in the history of Philippine sports to have two gold Olympic medals during our 100th year participation as a country in the Olympics, which also coincides with our company’s 35th anniversary this year,” said Megaworld president Lourdes Gutierrez-Alfonso in a statement.

Other corporations also committed to gift Yulo 3 million pesos in cash. 

As a Filipino brand, we believe in celebrating and supporting our homegrown talent, and this reward is a testament to our admiration for Carlos. We hope his success will inspire the next generation of Filipino athletes to pursue their dreams with the same passion and determination,” said chicken wholesaler Bounty Fresh executive Patricia Cheng-Lim.

Bounty has been supporting Filipino athletes since 2016 including Tokyo Games bronze medallist and boxer Eumir Marcial and gave Chooks-to-Go roast chicken stores to former Olympians Onyok Velasco and Roel Velasco.

Philippine Olympic Committee president Bambol Tolentino is also rewarding the the winners in Paris Olympics with 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.

Yulo may also get a “Senate Medal of Excellence” as filed by Senate Majority Leader Francis Tolentino on Aug 5.

Lifetime benefits await Yulo with restaurants like Vikings and Tipsy Pig extending free meals.

More is expected to pour in the coming days for Yulo, who stands alone in the country’s history, with other brands like Milo, which has been supporting grassroots sports in the country, posting a heartfelt message about the gymnast’s greatness.

When Tokyo 2020 weightlifting champion Hidilyn Diaz ended the 97-year gold medal drought of the Philippines, she received over 50 million in incentives including several houses and lots, condo units, lifetime of free flights, gasoline, and other products. 

Aside from monetary incentives, Yulo is also set for a hero’s welcome in his hometown in Manila.

The remaining Filipino athletes including semi-finalists Nesthy Petecio and Aira Villegas and pole vault finalist EJ Obiena also have a chance to receive a cash incentive depending on their rankings.

Coaches of the medallists will also receive a cash incentive as long as they have trained the athlete for more than six months. THE PHILIPPINE INQUIRER/ASIA NEWS NETWORK