P30M cash prize awaits Olympic gold medal winner

MANILA, Philippines – Filipino athletes will have 30 million reasons to win the gold medal in the Tokyo Olympics set July 23 to August 8.

Philippine Olympic Committee (POC) president Abraham Tolentino said San Miguel Corporation big boss Ramon Ang has pledged an additional incentive worth Php10 million, Php5 million and Php2 million for Filipinos who would snare a gold, silver or bronze medal, respectively, in the quadrennial event.

Ang matched the amount athletes are mandated to receive from the government via the Expanded Athletes Incentives Act and the money the Manny V. Pangilinan Sports Foundation (MVPSF) pledged.

So all in all, a Filipino Olympic medalist stands to receive Php30 million for a gold, Php15 million for a silver and Php6 million for a bronze.

“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,” said Tolentino during Tuesday’s online Philippine Sportswriters Association (PSA) Forum.

That is aside from the house and lot in Tagaytay Tolentino promised to the Filipino Tokyo gold medal winner.

And more is expected to come. 

“Hopefully marami pa darating lalo na pag na deliver na yung gold, baka umabot pa ng Php50 million yan, which is equivalent to US$1 million other countries are giving,” said the congressman from Tagaytay.