Carlo Paalam

LIST: Former scavenger Carlo Paalam to collect millions after Olympic silver

Delfin Dioquino
LIST: Former scavenger Carlo Paalam to collect millions after Olympic silver

STERLING DEBUT. Carlo Paalam savors his silver-medal finish in just his first Olympic appearance.

Luis Robayo/Reuters

(3rd UPDATE) Boxer Carlo Paalam can turn his life around as he is set to receive millions in cash incentives and other rewards after bagging silver in the Tokyo Olympics

From former scavenger to future millionaire.

Boxer Carlo Paalam can turn his life around as he is set to collect millions in cash incentives and other rewards after capturing the men’s flyweight silver in the Tokyo Olympics.

Paalam, who fell short of winning the Philippines’ first Olympic gold in boxing following a split decision loss to Galal Yafai of Great Britain, has been promised a total of P24.5 million in cash.

The pride of Cagayan de Oro will also receive other rewards just like his fellow Filipino medalists in Tokyo: weightlifter Hidilyn Diaz (gold) and boxers Nesthy Petecio (silver) and Eumir Marcial (bronze).

Here are the list of his incentives:

Cash incentives
  • P5 million – Under Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act, Olympic silver medalists are entitled to P5 million
  • P5 million – Sports patron Manny Pangilinan committed P5 million for a silver medal in Tokyo through the MVP Sports Foundation
  • P5 million – San Miguel Corporation boss Ramon Ang pledged P5 million for Filipino silver medalists
  • P3 million – Phoenix Petroleum vowed to give Paalam P3 million for his feat in Tokyo
  • P2 million – President Rodrigo Duterte will grant Paalam P2 million from his office
  • P2 million – House Deputy Speaker Mikee Romero added P2 million to the cash windfall of silver medalists
  • P2 million – The Philippine Olympic Committee is giving a P2 million bonus for Filipino silver medalists
  • P500,000 – Senators donated P100,000 each for the chamber’s cash prizes for the four Filipino medalists in Tokyo and gave Paalam P500,000 for winning silver
Other rewards
  • Free 60,000 miles per year for life from Philippine Airlines
  • Unlimited free flights for five years from AirAsia
  • Twenty-five free flights from Cebu Pacific Air
  • House and lot in Cagayan de Oro from VisMin Cebu Landmasters Inc
  • House and lot in Tagaytay from POC president Bambol Tolentino
  • Free big bike from Motortrade
  • Free services, including change oil and haircut

– Rappler.com

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Delfin Dioquino

Delfin Dioquino dreamt of being a PBA player, but he did not have the skills to make it. So he pursued the next best thing to being an athlete – to write about them. He took up journalism at the University of Santo Tomas and joined Rappler as soon as he graduated in 2017.