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President Marcos Jr. Awards PHP 1M Each to Olympians and PHP 500K to Coaches

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August 14, 2024
filipino olympians and coaches receive cash incentives

The excitement surrounding the Filipino athletes who recently represented the Philippines at the 2024 Olympic Games in Paris, France has reached new heights as they returned to Manila on the evening of August 13. The athletes led by two-time gold medalist Carlos Yulo, were warmly welcomed by Philippine President Ferdinand Marcos Jr. and the First Family at Malacañang Palace.

The Ceremonial Hall of Malacañang Palace was filled with pride and celebration as President Marcos Jr. and his family met with the athletes. During the event, the President praised the achievements of the Filipino contingent, emphasizing that qualifying for the Olympics is a remarkable accomplishment in itself.

Generous Cash Awards for Filipino Olympians

In recognition of their exceptional performance, President Marcos Jr. announced significant financial rewards for the athletes. Carlos Yulo, who made history by winning two gold medals at the 2024 Olympics, was awarded PHP 20 million from the Office of the President. This sum is in addition to the PHP 20 million Yulo is set to receive under Republic Act 10699, which provides incentives for medal winners. Yulo’s achievement not only highlights his personal excellence but also marks a significant milestone in Philippine Olympic history.

Boxers Nesthy Petecio and Aira Villegas, who won bronze medals in their respective weight divisions, were each awarded PHP 2 million from the Office of the President. This amount complements the PHP 2 million they are set to receive from the government, recognizing their hard-fought achievements in the ring.

All Filipino athletes who competed in the Summer Games received a cash incentive of PHP 1 million each, while their coaches were awarded PHP 500,000. This move underscores the President’s commitment to acknowledging the hard work and dedication of both athletes and their coaching staff.

In his speech, President Marcos Jr. expressed his appreciation for the athletes’ sacrifices and efforts. “I thought what we should do is really recognize all the athletes. For an athlete - be it from the Philippines or wherever - to qualify for the Olympics is not an easy feat. That is an extremely difficult achievement to have managed. I apologize if it is just a small amount. I know that PHP 1 million is small if you compare it to your sacrifice and the experiences you went through. But for now, this is what we will do,” Marcos stated.

Historic Achievements at the 2024 Olympics

The 2024 Olympic Games were a historic event for the Philippines, as the country secured four medals—two gold and two bronze. Carlos Yulo’s performance was particularly noteworthy. He achieved a remarkable feat by winning his second gold medal in the vault competition, just 24 hours after his first gold medal victory. This made him the first Filipino Olympic multi-gold medalist, cementing his status as one of the greatest Olympians in Philippine history.

Boxers Nesthy Petecio and Aira Villegas also made significant contributions to the country's medal tally by securing bronze medals in their respective weight classes. Their achievements, along with Yulo’s, helped the Philippines to be recognized as the best Southeast Asian nation in the Olympics, finishing 37th in the overall rankings. This was the country's highest Olympic Games ranking since 1964.

Commitment to Sports Development

President Marcos Jr. has expressed his eagerness to support the development of sports in the Philippines, especially at the grassroots level. He highlighted that despite the athletes' successes, there has been a lack of formal technical support from the government. “If you can consider that all of these athletes who have done so well and have made us so proud, there is no official technical support from the government. They did it on their own. Of course, they get help. Sometimes, the government helps, but there is no formal structure to help our athletes and that is what we are going to establish now. I ask all of you to tell us what is that you need,” Marcos Jr. added.

Heroes’ Parade to Celebrate the Athletes

To further honor the athletes, a heroes’ parade was organized on August 14. The 7.7-kilometer parade, which began at the Aliw Theater in Pasay City, provided an opportunity for the public to celebrate and show appreciation for the athletes’ achievements. The parade route included prominent streets such as Roxas Boulevard, Padre Burgos Street, Finance Road, Taft Avenue, Quirino Avenue, and Adriatico Street, culminating at the Rizal Memorial Sports Complex.

The parade was not only a celebration of the athletes’ successes but also a demonstration of national pride. The public’s enthusiastic participation in the parade highlighted the widespread admiration for the athletes and their contributions to the country’s sporting legacy.

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