Carlos Yulo has made history by becoming only the second-ever Olympic gold medalist for the Philippines after dominating the men’s floor exercise event in artistic gymnastics at the 2024 Paris Olympics. This monumental achievement not only brings pride to the nation but also comes with significant rewards for Yulo, in line with Republic Act 10699.
Signed into law in 2015, Republic Act 10699 mandates cash incentives for Filipino athletes who secure medals in international competitions, with specific provisions for Olympic medalists. For winning a gold medal, Yulo is set to receive a cash prize of PHP 10,000,000. The law also stipulates PHP 5,000,000 for a silver medal and PHP 2,000,000 for a bronze, with these amounts applying to individual events.
In addition to the cash reward, Yulo will be honored with the Olympic Gold Medal of Valor by the Philippine Sports Commission (PSC). This recognition is a testament to his dedication, hard work, and exceptional performance on the world stage.
Further enhancing the celebration of his victory, the Philippine Olympic Committee (POC) has pledged to provide gold medalists with a house and lot. This promise follows the tradition set during the Tokyo Olympics three years ago when the country’s Olympic medalists were similarly rewarded. The POC’s commitment underscores the nation’s support for its athletes and its recognition of their sacrifices and achievements.
Beyond these official incentives, private sector support has also poured in. Reports indicate that a prominent property development company has pledged to award a condominium unit to any Filipino athlete who wins a gold medal at the Olympics. This gesture from the private sector highlights the broad national pride and collective celebration of Yulo’s success.
Carlos Yulo’s triumph in Paris not only adds to the Philippines’ Olympic legacy but also sets a new standard of excellence for future athletes. His victory is a beacon of hope and inspiration, demonstrating that with determination and relentless effort, world-class success is within reach for Filipino athletes. The rewards and recognition Yulo receives are not just material benefits but also symbols of the nation’s gratitude and admiration for his historic achievement.
How about the vacant pogo hub in ban
bam tarlac, it should be considered by
PSC to be a training ground for Pinoy
gymnastics, boxers and weight lifters,
these 3 sports were pinoys really can
excell , to be handled by Caloy Yulo, Hi
dilyn Diaz and Nesthy Petescio, as their
rewards for bringing the pilipinos pride
and honor in the Paris olympics