With Olympic fervor fully ablaze these days, the MVP Sports Foundation (MVPSF) through its Chairman Manny V. Pangilinan and President Al S. Panlilio, announced it is earmarking cash incentives not only for Filipino Summer Olympics medalists, but also for those who bring honor from the Tokyo 2020 Paralympics.
Pangilinan, better known for his initials MVP, is a known sports patron who has been bankrolling numerous sports disciplines in the past decade. Through his foundation MVPSF, he is allotting financial incentives for Paralympic medalists to the tune of P5 million for gold, P2.5 million for silver and P500,000 for bronze.
The amounts mirror the financial rewards to be handed out by the Philippine government through the Philippine Sports Commission.
Panlilio said this is part of the commitment of “Chairman MVP and his advocacy of Sports for All. MVPSF supports that commitment and is one with him in the belief that Paralympians deserve recognition and reward for their sacrifice and dedication to flag and country”.
The foundation had earlier allocated cash rewards for the Summer Olympians of P10 million for gold, P5 million for a silver and P2 million for a bronze.
The Summer Olympics will kick off Friday, July 23, and will last until August 8 while the Paralympics start on August 24 to September 5.
On being informed of the good news, Philippine Paralympic Committee President Mike Barredo expressed deep appreciation and elation at the gesture and thanked the MVPSF for their “Sports for All” advocacy.
Carrying the Philippine colors in the most prestigious tournament for the differently-abled are Ernie Gawilan and Gary Bejino of Para Swimming; Jerold Magliwan and Janette Acebeda of Para Athletics; Allain Ganapin of Para Taekwondo, and Achele Guion of Para Powerlifting.