ALL medalists in the last 18th Asian Games will receive their cash incentives from the Philippine Olympic Committee (POC) during the scheduled PBA Governors Cup games on Sunday at the Smart Araneta Coliseum.
The awarding ceremony will be held just before the 6:45 p.m. main game between defending champion Barangay Ginebra and San Miguel Beer.
POC president Ricky Vargas is expected to personally hand out the financial rewards to the 26 athletes (including three teams of athletes) who brought home medals in the Palembang-Jakarta Games led by gold winners Hidilyn Diaz, Bianca Pagdanganan Lois Kaye Go, and Margielyn Didal.
P2 million awaits all gold medalists, P500,000 silver, and P300,000 bronze as had been announced during the first POC General Assembly held under the tenure of Vargas.
Gold and silver medalists will also be given premium phones, while bronze winners will be receiving pocket wifi from PLDT and Smart.
The money will come from the total P76 million raised by Vargas from corporate donations courtesy of San Miguel Corporation (P50 million), MVP Group (P20 million), and the PBA (P6 million).
Vargas, who also serves as current PBA chairman, will be joined during the short ceremony by members of the league board, both boards of the POC and Philippine Sports Commission (PSC), as well as POC sponsors.
All athletes will bring along their medals during the ceremony.
Only last week, President Duterte led the handing out of cash incentives also to all medal winners in the Asiad held in Malacanang.
The financial rewards given were in accordance with Republic Act 10699, where gold medalist gets P2 million, P1 million silver, and P400,000 bronze.
The President however, directed the PSC to give additional P2 million each to the four gold medalists, who are bound to receive a total of P8 million from the incentives handed out by the POC (P2 million), PSC (P2 million), Siklab Sports Foundation under Presidential Sports Adviser Dennis Uy (P1 million), and Philippine Ambassador to Indonesia Cesar Lee Hiong Tan Wee (P1 million).
Get more of the latest sports news & updates on SPIN.ph
NOTICE ON UNAUTHORIZED AND UNLAWFUL USE, PUBLICATION, AND/OR DISSEMINATION OF SPIN.PH CONTENT: Please be notified that any unauthorized and unlawful use, publication, and/or dissemination of Spin.ph’s content and/or materials is a direct violation of its legal and exclusive rights to the same, and shall be subject to appropriate legal action/s.
