Every Filipino athlete who participated in the 2024 Paris Olympics will receive a P1-million cash incentive, according to President Ferdinand Marcos Jr. The announcement was made during a special gathering at Malacañang, where Marcos, First Lady Liza Araneta Marcos, and their children welcomed the Olympians, including double gold medalist Carlos Yulo.
In his address, President Marcos stated that each Olympian would receive P1 million from the Philippine Amusement and Gaming Corporation. The Office of the President will then match this amount, providing each athlete with a total of P2 million.
“So let’s give all our Olympians one million each. The Office of the President will match what you give so that at least they would have P2 million,” Marcos said.
Marcos also announced that every coach on staff would receive P500,000 as a reward for their contributions to the athletes’ success.
The President awarded the Presidential Citation to each athlete, including bronze medalists in women’s boxing, Aira Villegas and Nesthy Petecio, in recognition of their accomplishments. The citations acknowledged their outstanding performance and embodiment of the Olympic ideals of friendship, excellence, and respect.
Carlos Yulo was awarded the Presidential Medal of Merit for his remarkable victories in the men’s floor exercise and vault events at the Paris Olympics. As mandated by law, Yulo also received P20 million in addition to his gold medals.
The Philippines achieved its best result in Olympic history at the 2024 Paris Olympics, finishing 37th overall and surpassing its previous medal total from the 2020 Tokyo Olympics.
