Marcos Jr. Announces P1-Million Cash Incentive for All Filipino Olympians, P500,000 for Coaches

Athletes such as former Olympic gold medalist Carlos Yulo were welcomed to Malacañang by President Ferdinand Marcos Jr., who also announced a P1 million monetary incentive for Filipino athletes participating in the 2024 Paris Olympics.

During his speech, Marcos announced that the Office of the President would equal P1 million awarded to each Filipino Olympian by the Philippine Amusement and Gaming Corporation.

"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.

The President announced that each coaching staff member will receive P500,000 in the meantime.

Nesthy Petecio and Aira Villegas received the Presidential Citation from the President in appreciation of their exceptional performance and commitment to Olympic values, following their bronze medal wins in women's boxing.

In honor of his incredible double victory in the men's floor exercise and vault competitions at the Olympics in Paris, Yulo was awarded the Presidential Medal of Merit.

As required by law for gold medal winners, he also received P20 million.

At the 2024 Olympics in Paris, the Philippines came in 37th overall.