CARLOS YULO TO RECEIVE INCENTIVES FROM PSC AFTER GOLD, SILVER STINT
Carlos Yulo will now have to wait for a cash incentive from the Philippine Sports Commission (PSC) after dominating the vault and parallel bars in the World Championships in Kitakyushu, Japan.
PSC chairman William Ramirez praised Yulo for bringing the pride of Filipinos once again in the professional setting.
“Very happy for Caloy and his coaches, the GAP (Gymnastics Association of the Philippines) leadership and his parents,” said Ramirez.
The PSC Board is set to have a meeting this week to decide how much Yulo will receive. But according to reports, Yulo might receive as much as P1 million for his gold medal and another P500,000 for his silver medal in the Southeast Asian Games.
According to Republic Act 10699, the “Sports Benefits and Incentives Act of 2001,” sportsmen who win gold or silver medals in world championship-level competitions, which are conducted every two years and involve at least 45 countries will receive financial bonuses of P1 million and P500,000, respectively.
“We will wait for the report of GAP (Gymnastics Association of the Philippines) through Cynthia Carrion, but we will revisit the previous incentives,” Executive Director Atty. Guillermo Iroy explained.
Chairman Ramirez also added that the 21-year-old Yulo will be a great contender in the 2024 Paris and 2028 Los Angeles Olympics.
While Philippine Olympic Committee President Bambol Tolentino noted that Yulo “is now maturing psychologically and that will be his new armament for the Games to come.”
“We are now seeing that the new Caloy is unfolding.”