Olympic double gold medalist Carlos Yulo is getting a historic bonanza with his feat.
After winning the gold medal in the vault on Sunday night for his second mint in the Paris Olympics, additional bonuses began to pour in for one of the country’s greatest Olympian.
His financial incentive from the Philippine Sports Commission (PSC) through the National Athletes and Coaches Benefits and Incentives Act has now ballooned to P20 million as under RA 10699, every Olympics gold medalist is entitled to a P10 million financial reward.
At the same time, Megaworld upgraded its reward to the 24-year-old gymnast dynamo by now allotting a bigger three-bedroom, fully-furnished unit in one of its premier resident properties at McKinley Hills worth P32 million.
The unit is apart from a special cash bonus of P3 million to be given by the giant real estate property for the historic feat Yulo pulled off in Philippine sports history.
Megaworld originally allotted a two-bedroom unit worth P24 million after the Filipino ruled the men’s all-around exercise Saturday night for Philippine gymnastics’ first-ever gold in the Olympics.
But after Yulo added another gold in his collection by ruling the men’s vault 24 hours later, Megaworld decided to further up the ante.
“Since this is a very significant milestone in the history of Philippine sports to have two Olympic medals during our 100th year participation as a country in the Olympiad, which also coincides with our company’s 35th anniversary this year, we are boosting our reward for Carlos Yulo now totaling to P35 million,” Megaworld president Lourdes Gutierrez-Alfonso said in a statement.
“He truly deserves this and we will always be proud of him for taking Filipino excellence to the next level.
So far, the total incentives add up to P55 million for Yulo pending the other windfall pledged or to be given by other government and private entities.
Chooks To Go announced Monday morning it will be handing out P3 million to Yulo, while a lifetime eat-all-you-can was also given out by the Vikings Group.
The House of Representative already pledged P6 million for the double golden feat, according to Speaker Martin Romualdez.
Tagaytay house of lot
The Philippine Olympic Committee (POC) through its president Abraham ‘Bambol’ Tolentino also guaranteed a house and lot in Tagaytay for Yulo.
The MVP Group and San Miguel Corporation have yet to announce if the company are going to hand out incentives for Yulo, although both business firms graciously gave out financial packages to Hidilyn Diaz when the Filipina weightlifter scored the country’s first ever Olympic gold medal during the Tokyo Games.
The 33-year-old Diaz received more than P50 million in rewards when she emerged as the first ever Filipino athlete to win a gold in the Olympiad.
