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Carlo Paalam to take home P17 million for Olympic silver

Sports | Boxing

Carlo Paalam to take home P17 million for Olympic silver

By Carlo Anolin

Flyweight boxer Carlo Paalam is set to haul millions in cash incentives after bagging the silver medal in the 2020 Tokyo Olympics Saturday, Aug. 7.

Carlo Paalam holds his silver medal during the awarding ceremony for the men's flyweight boxing in the 2020 Tokyo Olympics at the Kokugikan Arena Saturday, Aug. 7, 2021. (AFP)

Just like fellow Olympic medalists Hidilyn Diaz with the gold, Nesthy Petecio with the silver, and Eumir Marcial with the bronze, Paalam is likely to receive other rewards courtesy of private sponsors.

At least a total of P17 million awaits the scavenger-turned-boxer from Cagayan de Oro.

Five million pesos will be given by the government through Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act, another P5M was pledged by sports patron Manny V. Pangilinan through the MVP Sports Foundation, and the Ramon Ang-led San Miguel Corporation will also hand the same amount.

House Deputy Speaker, sports enthusiast, and polo player Mikee Romero will also give P2 million as promised to silver medalists.

Meanwhile, airline companies namely Philippine Airlines, Cebu Pacific, and Air Asia will also give respective free flights for Paalam.

Once a young and skinny scavenger, Carlo stayed true to his vow to the Paalam family of lifting them out of poverty.

READ: Olympic silver ‘symbolic’ of rise from poverty, says Filipino boxer Carlo Paalam

He became the second silver medalist in the 2020 Tokyo Games after Petecio and the fourth overall in Philippine boxing history.

Mansueto "Onyok" Velasco (1996) and Anthony Villanueva (1964) were the other sluggers who won silver medals.

Related Tags

Tokyo Olympics 2020 Tokyo Olympics Carlo Paalam Olympics

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