Tokyo Olympics

POC adds to Olympic medal cash windfall, gold now at P55.5 million

Beatrice Go
POC adds to Olympic medal cash windfall, gold now at P55.5 million

FINANCIAL BLESSINGS. Olympic medalists (from left) Hidilyn Diaz, Nesthy Petecio, Eumir Marcial, and Carlo Paalam banner the country's historic Olympic campaign.

REUTERS

Silver medalists Nesthy Petecio and Carlo Paalam also take home P19 million, while bronze medalist Eumir Marcial gets a total of P8.5 million

The Philippine Olympic Committee (POC) further fattened the country’s Tokyo Olympics medalists’ purse with weightlifter Hidilyn Diaz’s gold now valued at P55.5 million.

POC president Abraham “Bambol” Tolentino announced on Sunday, August 8, that the private sports organization is giving a P3 million bonus for a gold medal, P2 million for silver, and P1 million for bronze.

On top of the Philippine Sports Commission (PSC) Incentives Act RA 10699 that mandates that an Olympic gold medalist be rewarded with P10 million, Diaz raked in millions from Filipino tycoons, private organizations, and the local government.

Must Read

LIST: Hidilyn Diaz rakes in millions after historic Olympic gold

LIST: Hidilyn Diaz rakes in millions after historic Olympic gold

The law gives an Olympic silver, won by boxers Nesthy Petecio and Carlo Paalam in the Tokyo Games, P5 million, while Eumir Marcial’s bronze is valued at P2 million.

Petecio and Paalam will take home a total of P19 million that includes P5 million each from the PSC, Manny Pangilinan and Ramon Ang, and P2 million each from House Deputy Speaker Mikee Romero and the POC.

Marcial will take home P8.5 million off P2 million each from the government, Pangilinan and Ang, and P1 million each from Romero and the national Olympic committee, and P500,000 from the Zamboanga local government.

Tolentino announced that a house and lot in Tagaytay will also be given to Olympic boxing medalists Petecio, Paalam, and Marcial, after Diaz was initially promised the same incentive.

Grabe po ‘yung blessing and thankful kami sa Panginoon na may ginamit siyang tao para makatulong sa akin. Sobrang saya namin,” said an overjoyed Marcial upon hearing the announcement during the press conference on Sunday.

(The blessings are overwhelming and we’re thankful to God that he used someone to help us. We’re really happy.)

Diaz won the country’s first Olympic gold medal in the women’s 55kg event while also setting Olympic records, while Petecio similarly made history as the first Filipina Olympic boxing medalist.

Paalam took home the silver from the men’s flyweight final, while Marcial settled for bronze in the men’s middleweight event. – Rappler.com

Beatrice Go

More commonly known as Bee, Beatrice Go is a multimedia sports reporter for Rappler, who covers Philippine sports governance, national teams, football, and the UAAP. Stay tuned for her news and features on Philippine sports and videos like the Rappler Athlete’s Corner and Rappler Sports Timeout.