Top Filipino business magnate Manny V. Pangilinan once again demonstrated his unwavering commitment to Philippine sports following the nation’s remarkable performance at the 2024 Paris Olympics. In recognition of the athletes’ achievements, Pangilinan, a well-known patron of Philippine athletics, provided substantial cash rewards to the country’s top performers.
Carlos Yulo, who made history by securing two gold medals in gymnastics, received a generous cash reward of P10 million from Pangilinan. This is a testament to Pangilinan’s admiration and support for Yulo, who has consistently brought pride to the Philippines on the international stage. In addition to Yulo’s reward, his coaching staff collectively received P5 million, underscoring the importance of the team behind the athlete’s success.
Meanwhile, bronze medalists in boxing, Nesthy Petecio and Aira Villegas, were also recognized for their contributions to the country’s Olympic campaign. Each boxer was awarded P2 million, with their coaching staff receiving P2 million collectively. These rewards highlight Pangilinan’s recognition of the hard work and dedication required to reach such heights in sports.
Pangilinan took to social media to express his continued support for Filipino athletes, stating, “Like always, they can count on our continued support until [the] LA 2028 [Olympics]. Mabuhay ang atletang Pinoy!” His message reflects his long-term vision for the development of Philippine sports, aiming to sustain and enhance the country’s success in future international competitions.
The tycoon’s generosity is not new to the Philippine sports community. In 2022, Pangilinan’s MVP Sports Foundation played a pivotal role in the establishment of the Gymnastics Training Center in Intramuros, Manila. The 2,300-square-meter facility has been instrumental in developing gymnasts like Yulo, providing world-class training grounds for aspiring athletes.
Beyond gymnastics, Pangilinan is also a major supporter of other sports in the Philippines. He funds the Gilas Pilipinas basketball program and owns five professional sports teams: TNT, Meralco, and NLEX in the Philippine Basketball Association (PBA), and PLDT and Cignal in the Premier Volleyball League (PVL). His contributions to these programs have significantly elevated the status of Philippine sports both locally and internationally.
Carlos Yulo’s recent success, buoyed by Pangilinan’s latest financial backing, brings his post-Olympics earnings to over P100 million, with more than P50 million coming from the Philippine government alone. Pangilinan’s continued support ensures that Filipino athletes can focus on their training and achieve even greater success in the future.