Carlos Yulo will be rewarded with P6 million by the House of Representatives for his historic double gold medal victories at the Paris Olympics, Speaker Martin Romualdez announced on Monday.
Incentive Breakdown
The reward follows the House’s earlier pledge to grant incentives to Olympic medalists: P3 million for gold, P2 million for silver, and P1 million for bronze. Yulo secured gold in both the floor exercise and vault events in men’s artistic gymnastics, becoming the first Filipino male athlete to achieve this feat.
“With Yulo winning two gold medals, he will get a minimum incentive worth P6 million from the House,” Romualdez said in a statement.
Additional Incentives and Recognition
Romualdez mentioned that Yulo will receive additional cash incentives pooled from contributions by congressmen and private sector donations.
“Congressmen pooled their money. Before the Olympics, we did a very informal but voluntary contribution system, so the athletes had pocket money before they left,” Romualdez added.
Yulo will also be awarded a congressional medal for his outstanding achievements and contributions to Philippine sports.
Commitment to Sports Development
Romualdez emphasized that the House will continue to support and invest in the country’s sports programs to nurture and develop more athletes like Yulo. He highlighted ongoing discussions with the Philippine Olympic Committee, Philippine Sports Commission, and other sports agencies to ensure athletes receive adequate support.
Future Plans
Romualdez revealed that there are plans to grant Filipino athletes lifetime benefits such as pensions. He will be meeting with the Social Security System on Tuesday to discuss these potential benefits.
Romualdez has extended financial assistance to all 22 Filipino athletes participating in the Paris Olympics.