Tycoons commit million-peso cash gifts to Olympics placers

By Leobert Julian A. de la Peña

Business tycoons Ramon Ang and Manny Pangilinan confirmed they will be giving multi-million cash incentives to the Filipino athletes who can bring home medals in the 2021 Tokyo Olympics.

Ang and Pangilinan will be preparing 10 million pesos each for the gold medalists on top of the other rewards shouldered by the Philippine Sports Commission (PSC).

“There will be more to come. Nagpapasalamat din ako kay Ramon Ang of San Miguel na nagcommit ng same amount like MVP group,” said Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino.

Aside from the grand prize of a total of 20 million pesos for the gold medalists, Tolentino also confirmed that Ang will be giving five million pesos for the silver medal winners and two million pesos for the bronze achievers.

Under the PSC incentives, those athletes who will win gold will also be rewarded with a house and lot gift on top of the cash.

In total, Olympic athletes who will win the gold will be receiving 30 million pesos, 15 million pesos for the second-place finishers and six million pesos for the bronze medalists.

The Philippines will be fielding 19 Tokyo-bound athletes qualified for various sports such as weightlifting, boxing, pole vaulting, gymnastics, rowing, etc.