POC President Abraham “Bambol” Tolentino announced the creation of the fund after the POC handed out incentives to Filipino medalists in last month’s 31st Southeast Asian Games in Vietnam.
The POC will use as seed money the P2 million left from a total P13 million sourced from the body’s principal supporters—Manuel V. Pangilinan’s MVP Sports Foundation, Ramon S. Ang’s San Miguel Corp. and Charlie Gonzales’s Ulticon Builders Inc.
“This trust fund is another milestone for the POC, it has never been done before and we are establishing the fund to motivate and inspire our athletes when they compete abroad,” said Tolentino, who also presided over the POC Executive Board meeting at the Knights Templar Hotel.
The POC financial incentives to the Vietnam SEA Games totaled P11 million—P5.82 million for gold medalists, P3.2 million for silver medalists and P1.97 million for bronze medalists.
There were 227 Filipinos who bagged medals in Vietnam—52 gold, 70 silver and 105 bronze medals.
“All donations from private corporations will automatically go to that incentive trust fund for athletes,” Tolentino said.
Individual gold medalists in the SEA Games receive P100,000 each, P30,000 go to the silver medalists and P10,000 to bronze medalists.
POC secretaries general Edwin Gastanes, Bones Floro, Carl Sambrano and auditor Chito Loyzaga and board members Dave Carter and Charlie Ho, as well as the Athletes Commission’s Nikko Huelgas attended the meeting with treasurer Cynthia Carrion-Norton, first vice presidents Al Panlilio and Richard Gomez and board members Pearl Managuelod and Dr. Raul Canlas joining online.
MVP Sports Foundation head Jude Turcuato turned over the checks to the medalist athletes including Eumir Marcial, Agatha Wong and Merwin Tan.