MORE financial incentives are coming the way of Olympic double gold medalist Caloy Yulo.
A P5 million cash reward will be given to the 24-year-old gymnast by ArenaPlus for the historical feat he achieved in the Paris Olympics.
Yulo won the gold in both men’s floor exercise and vault to become the first-ever Filipino to achieve a double feat in a single Olympic competition.
The incentive is given out as ‘Astig Sports Bonus’ to Yulo for being ArenaPlus’ official brand ambassador since the start of the year.
“Kasama mo kami sa laban ngayon. Parte ka na ng kasaysayan. At para sa patuloy nating paglalakbay sa ating magandang pinagsamahan, sa iyo rin ang Astig Sports Bonus of P5 million,” said the firm in a statement.
“Para sa iyong pagpupursigi sa hinaharap at sa larangan na iyong pinasikat, ito’y magsisilbing tulong para mas lalong maiangat ang iba’t-ibang karera sa sports.”
Much-deserved for Caloy
Rewards and pledges from both the government and private sector have been coming the way of Yulo since dazzling his way to history in the Paris Games over the weekend.
As per RA 10699 or the National Athletes and Coaches Benefits and Incentives Act, the Philippine Sports Commission (PSC) is mandated to hand out P10 million for every Olympic gold medal won - so in Yulo's case, a total of P20 million.
Not to be outdone, the Philippine Olympic Committee also pledged a house and lot to the history-maker, while property development firm Megaworld raised the ante by upgrading its earlier reward into a three-bedroom, fully-furnished condominium unit worth P32 million plus an additional P3 million cash prize.
READ: Carlos Yulo incentives breach P60M after Megaworld condo upgrade
The House of Representatives also doubled its earlier pledge to the 4-foot-11 gymnast by giving out P6 million, while the Bounty Group, makers of Chooks-to-Go, also announced a P3 million bonus to Yulo.
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