The Philippine Sports Commission (PSC) Board approved Tuesday the awarding of a P750,000 cash incentive for Carlos Yulo for winning one gold and one silver medal in the recent 50th FIG Artistic Gymnastics World Championships in Japan.
The government sports agency said P500,000 of the bonus is for his golden performance in vault and P250,000 for his silver finish in parallel bars.
PSC chairman Butch Ramirez explained that the provisions and technical condition of Republic Act No. 10699 also known as the “Sports Benefits and Incentives Act of 2001” does not cover the annual tournament that drew 56 countries this edition.
Under the law, financial bonuses of P1 million (gold medal) and P500,000 (silver) are given to athletes who won in world championship-level events held every two years with at least 45 countries participating.
Despite these, the agency recognizes the achievement of Yulo with the approved incentive.
“Every incentive that he receives is well-deserved. By sheer will and determination, Caloy (Yulo) has created his own niche in the halls of Philippine sports history. Caloy is truly an inspiration to our youth and Filipino athletes.” Ramirez said.
In the 2019 world championships in Stuttgart, Germany, the PSC granted Yulo a P1 million bonus – P500,000 for winning the floor exercise gold medal and P500,000 for qualifying to the 2020 Tokyo Olympics.
At the 2018 edition in Doha, Qatar, he also received P250,000 for winning the floor exercise bronze.