Yulo to get P20M from PAGCOR; coach to get P10M | ABS-CBN
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Yulo to get P20M from PAGCOR; coach to get P10M
Yulo to get P20M from PAGCOR; coach to get P10M
ABS-CBN News
Published Aug 06, 2024 04:37 PM PHT
A digital billboard along EDSA in Mandaluyong City shows a congratulatory message to Filipino gymnast Carlos Yulo on August 5, 2024, a day after his win in the men's artistic gymnastics vault exercises. Mark Demayo, ABS-CBN News
A digital billboard along EDSA in Mandaluyong City shows a congratulatory message to Filipino gymnast Carlos Yulo on August 5, 2024, a day after his win in the men's artistic gymnastics vault exercises. Mark Demayo, ABS-CBN NewsMANILA -- Filipino gymnast Carlos Yulo is set to receive P20 million from the Philippine Amusement and Gaming Corporation (PAGCOR) -- and his coach will be rewarded as well.
MANILA -- Filipino gymnast Carlos Yulo is set to receive P20 million from the Philippine Amusement and Gaming Corporation (PAGCOR) -- and his coach will be rewarded as well.
Under Republic Act 10699, Olympic gold medalists will receive P10-M, and their coaches will receive 50% of the incentive of the athlete. Silver medalists in the Olympics will receive P5 million, and bronze medalists will receive P2 million.
Under Republic Act 10699, Olympic gold medalists will receive P10-M, and their coaches will receive 50% of the incentive of the athlete. Silver medalists in the Olympics will receive P5 million, and bronze medalists will receive P2 million.
This means that Yulo's coach, Aldrin Castaneda, will also receive a significant amount after helping the diminutive Filipino gymnast win two gold medals in the 2024 Paris Olympics.
This means that Yulo's coach, Aldrin Castaneda, will also receive a significant amount after helping the diminutive Filipino gymnast win two gold medals in the 2024 Paris Olympics.
"As provided by law, for the gold medalist, PAGCOR is mandated to give an athlete who wins gold P10-M. Since he has two golds, Mr. Yulo will have P20-M," said PAGCOR chairman Alejandro Tengco during Tuesday's budget hearing at the House of Representatives.
"As provided by law, for the gold medalist, PAGCOR is mandated to give an athlete who wins gold P10-M. Since he has two golds, Mr. Yulo will have P20-M," said PAGCOR chairman Alejandro Tengco during Tuesday's budget hearing at the House of Representatives.
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"Aside from that … the coach and trainer of Mr. Yulo will receive 50% of what PAGCOR will donate," he added. "So in that case, Mr. Yulo will receive P20-M, P10-M per gold that he was able to produce, and his coach and his trainer will receive a total of P10-M."
"Aside from that … the coach and trainer of Mr. Yulo will receive 50% of what PAGCOR will donate," he added. "So in that case, Mr. Yulo will receive P20-M, P10-M per gold that he was able to produce, and his coach and his trainer will receive a total of P10-M."
Tengco said the full amount is previously given to winning participants in past contests and "that means we do not deduct any taxes in these incentives that we give away."
Tengco said the full amount is previously given to winning participants in past contests and "that means we do not deduct any taxes in these incentives that we give away."
Yulo ruled both the vault and the floor exercise in the men's artistic gymnastics in the Paris Games, becoming the first Filipino athlete to win multiple medals in a single Olympics. He is also the first Filipino athlete to win two gold medals.
Yulo ruled both the vault and the floor exercise in the men's artistic gymnastics in the Paris Games, becoming the first Filipino athlete to win multiple medals in a single Olympics. He is also the first Filipino athlete to win two gold medals.
Aside from the government-mandated reward from PAGCOR, Yulo is also set to receive other incentives from private companies -- including a condominium, prize money, and a house and lot in Tagaytay.
Aside from the government-mandated reward from PAGCOR, Yulo is also set to receive other incentives from private companies -- including a condominium, prize money, and a house and lot in Tagaytay.
The City Government of Manila on Tuesday said it will reward both Yulo and Filipino pole vaulter EJ Obiena for their performance in the Paris Olympics.
The City Government of Manila on Tuesday said it will reward both Yulo and Filipino pole vaulter EJ Obiena for their performance in the Paris Olympics.
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Yulo will receive P2 million -- P1 million for each gold medal -- aside from the hero's welcome that he will receive when he returns to the Philippines.
Yulo will receive P2 million -- P1 million for each gold medal -- aside from the hero's welcome that he will receive when he returns to the Philippines.
Obiena, who narrowly missed the podium in the men's pole vault finals, will receive P500,000 from the Manila LGU.
Obiena, who narrowly missed the podium in the men's pole vault finals, will receive P500,000 from the Manila LGU.
"Caloy and EJ exemplify what our youth can achieve through dedication, discipline, and community support. Their victories and unwavering spirit will always be a source of pride for the City of Manila," Manila Mayor Honey Lacuna-Pangan said. -- with a report from Willard Cheng, ABS-CBN News
"Caloy and EJ exemplify what our youth can achieve through dedication, discipline, and community support. Their victories and unwavering spirit will always be a source of pride for the City of Manila," Manila Mayor Honey Lacuna-Pangan said. -- with a report from Willard Cheng, ABS-CBN News
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