Several rewards and pledges await Carlos Yulo, the first Filipino to clinch a gold medal in the 2024 Paris Olympics after dominating the men’s floor exercise event in artistic gymnastics.
Among the rewards Yulo will receive includes a cash incentive from the national government.
Under the National Athletes and Coaches Benefits and Incentives Act (RA 10699), national athletes who will win a medal in international sports competitions shall get a cash incentive depending on their rankings.
The cash incentives for individual events are P10 million for gold medalists; P5 million for silver medalists; and P2 million for bronze medalists.
The House of Representatives also announced it will give P3 million to Yulo.
“In recognition of his historic accomplishment, the House of Representatives is honored to award Carlos Yulo P3,000,000. This reward reflects our support for his continued success and our commitment to fostering Filipino talent on the international stage,” Rep. Elizaldy Co, chairman of the House Committee on Appropriations, said in a statement.
Gold medalists from the Philippines will also receive an Olympic Gold Medal of Valor from the Philippine Sports Commission (PSC).
According to a report by GMA Integrated News, the Philippine Olympic Committee has also vowed to give a house and lot for gold medalists.
A property development firm also reportedly pledged to give a condominium unit for athletes who will win a gold medal.
Yulo might get more as in the case of the first-ever Filipino Olympic gold medalist, Hidilyn Diaz, who received additional rewards from the government and private sector three years ago after the 2020 Tokyo Olympics.