Tycoon Ramon Ang has committed to give multimillion-peso cash incentives to successful Philippine athletes at the Tokyo Olympics, including P10 million for those who win the elusive gold medal.

Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino confirmed during the weekly Philippine Sportswriter’s Association forum on Tuesday, July 13, that Ang will also give P5 million to athletes who win silver medals, and P2 million for bronze.

“Nagpapasalamat din ako kay Ramon Ang of San Miguel na nagcommit ng same amount like MVP group (I thank Ramon Ang of San Miguel for committing the same amounts as the MVP group),” said Tolentino.

Ang matched the cash incentives that fellow tycoon Manny Pangilinan announced days earlier, on July 8. Pangilian earlier said that he would give out the cash incentives on top of the bonus system of the Philippine Sports Commission Act (RA 10699).

With Ang’s cash incentives, Filipino gold medal winners at the Tokyo 2020 Olympic gold will get a total of P30 million; silver medallists, P15 million and bronze medallists, P6 million each.

“There will be more to come,” assured Tolentino, who also dangled a house and lot for every athlete who will win the gold.

The Philippines will send 19 athletes to the Tokyo 2020 Olympics that will be staged from July 23 to August 8 in Tokyo, Japan.

World champion gymnast Carlos Yulo, 2016 Rio Olympics silver medalist Hidilyn Diaz, pole vaulter EJ Obiena, and US Women’s Open titlist Yuka Saso are among the country’s top medal bets in the quadrennial meet.  – Rappler.com