A condo unit, cash: What PH Olympic medalists will get
The Filipino athletes who will win gold at the 2024 Paris Olympics are set to receive a special prize from Megaworld as the property giant is offering them a condominium unit at a whopping P24 million value.
In a statement, the real-estate company announced that they will reward each Filipino gold medalist with a condominium unit located at their 50-hectare McKinley Hill township in Taguig City.
They noted that the two-bedroom unit will already be fully furnished and that it will be near the famous Venice Grand Canal, which is considered the "most romantic mall" in the country.
"This 2024, we are celebrating our 100th year of participating in the Olympic Games, and what a way to celebrate this milestone than by recognizing the superb competitive spirit of our newest Olympic gold medalist and welcoming them to McKinley Hill," Megaworld President Lourdes Gutierrez-Alfonso said.
"As one of the most celebrated addresses in Fort Bonifacio, McKinley Hill is home to several world-class athletes, including members of the Philippine national teams for basketball and football. This makes it a perfect home for Filipino champions who live a life of passion and excellence through and through," she added.
There are 22 local athletes competing at the Olympics. These include pole-vaulter Ernest John "EJ" Obiena, boxers Nesthy Petecio, Carlo Paalam, Eumir Marcial, Aira Villegas and Hergie Bacyadan, gymnasts Carlos Yulo, Aleah Finnegan, Levi Ruivivar and Emma Malabuyo, weightlifters Vanessa Sarno, Elreen Ando and John Ceniza, rower Joanie Delgaco, fencer Sam Catantan, golfers Bianca Pagdanganan and Dottie Ardina, swimmers Kayla Sanchez and Jarod Hatch, judoka Kiyomi Watanabe, and hurdlers Lauren Hoffman and John Cabang.
Are there other rewards for the winning athletes?
But apart from the generous condominium unit, the players who have won big in international sports competitions are also entitled to cash incentives from the government, as mandated by Republic Act 10699, otherwise known as the "Sports Benefits and Incentives Act of 2001."
However, not every athlete gets to receive the same amount of incentive. It all depends on what international sports competition they participated in and whether they are gold, silver, or bronze medalists.
The highest amount given to athletes are those who brought home the gold in the Summer Olympic and Winter Olympic Games, being P10 million.
For other games, the government awards the following to gold medalists:
- P5 million for Youth Olympic Games and Paralympic Games
- P2 million for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games
- P1 million for Asian Para Games and World-level competitions held at least every two years with at least 45 countries participating
- P500,000 for Asian Beach Games, Asian-level competitions held at least every two years with at least 25 countries participating, and qualifying competitions for World-level and Asian-level games
- P300,000 for SEA Games
- P100,000 for ASEAN Para Games
Silver medalists are meanwhile awarded:
- P5 million for Summer Olympic and Winter Olympic Games
- P2.5 million for Youth Olympic Games and Paralympic Games
- P1 million for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games
- P500,000 for Asian Para Games and World-level competitions held at least every two years with at least 45 countries participating
- P250,000 for Asian Beach Games, Asian-level competitions held at least every two years with at least 25 countries participating, and qualifying competitions for World-level and Asian-level games
- P150,000 for SEA Games
- P75,000 for ASEAN Para Games
Lastly, bronze medalists are awarded:
- P2 million for Summer Olympic and Winter Olympic Games
- P1 million for Youth Olympic Games and Paralympic Games;
- P400,000 for Asian Games, Asian Winter Games, and Asian Indoor and Martial Arts Games;
- P200,000 for Asian Para Games and World-level competitions held at least every two years with at least 45 countries participating;
- P100,000 for Asian Beach Games, Asian-level competitions held at least every two years with at least 25 countries participating, and qualifying competitions for World-level and Asian-level games;
- P60,000 for SEA Games;
- P30,000 for ASEAN Para Games
Like in the case of Megaworld, the winning athletes can also receive more rewards from their benefactors and supporters.
For instance, Olympian pole vaulter EJ Obiena received a P5 million check from the Federation of Filipino Chinese Chambers of Commerce & Industry, Inc. in Binondo, Manila for his successful performance in the SEA and Asian Games in 2023.
He also got P3 million from his alma mater Chiang Kai-siek College, P1 million from businessman Anton Tan, and P1 million from ambassador Carlos Chan.
Weightlifter Hidilyn Diaz, on the other hand, got several perks such as a P14-million Megaworld condo unit in Manila, a house and lot in Tagaytay, free flights from AirAsia, and more for nabbing the Philippines’ first Olympic gold medal.
The 2024 Paris Olympics began on July 26 and will run until Aug. 11.
