Athletic

Carlos Yulo to Receive PHP20 Million from PAGCOR for Olympic Gold Wins


MANILA — Gymnast Carlos Yulo’s remarkable achievement of winning two gold medals at the 2024 Paris Olympics will be rewarded with a PHP20 million incentive funded by the Philippine Amusement and Gaming Corporation (PAGCOR).



According to Philippines News Agency, PAGCOR chairperson, this payout is mandated under Republic Act (RA) 10699, also known as the National Athletes, Coaches and Trainers Benefits and Incentives Act, which provides PHP10 million for each Olympic gold medal won. The law specifies that these funds are to come from PAGCOR’s National Sports Development Fund. During Tuesday’s budget deliberations at the House of Representatives, Tengco reaffirmed the organization’s commitment to supporting national athletes.



Additionally, Yulo’s coach, Allen Aldrin Castañeda, will also receive PHP5 million for each gold medal, totaling PHP10 million. The ongoing support from PAGCOR underscores the significant investment in Philippine athletes who achieve on the world stage.



Apart from national recognition, Yulo will receive local honors as well. The city government of Manila announced a PHP2 million cash reward for Yulo, celebrating his double gold achievement. Mayor Honey Lacuna highlighted Yulo’s contributions to Philippine sports, noting his roots in Manila and his role in uplifting the nation’s spirit and pride through his performances.

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