Businessman Dennis Uy committed to give P5 million to Olympic gold medalist Hidilyn Diaz.
In a statement on Tuesday, July 27, Uy's Siklab Atleta Pilipinas Sports Foundation pledged the financial incentive for Diaz and also vowed to back other promising athletes.
"It was our vision when we organized the foundation to rally the private sector to help our athletes in their quest for the Olympic gold, and now we have our first gold medal. I wish Hidilyn the best and we shall continue to support our Filipino athletes so we can have more golds in the future," said Uy, who is also presidential adviser for sports.
Siklab Atleta executive director Raymond Zorrilla said resources would be pooled through the foundation to provide athletes with training equipment and facilities, coaches' services, exposure to international competitions, and education, housing, and livelihood programs.
Founded in 2018, the foundation supports athletes who have the best chances of winning in the world's most prestigious sporting event.
The foundation said it previously gave Diaz financial assistance through a grant to the Philippine Sports Commission.