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Unspent P3M from PHISGOC deposited in athletes' trust fund

Sports

Unspent P3M from PHISGOC deposited in athletes' trust fund

By Kristel Satumbaga-Villar

Around P3.3 million worth of unspent funds for the country’s hosting of the 30th Southeast Asian Games in 2019 are now in the Philippine Olympic Committee's (POC) trust fund for athletes.

POC president Bambol Tolentino disclosed this Friday, Sept. 30, saying that the Philippine Southeast Asian Games Organizing Committee (Phisgoc) turned over the funds that were raised from private sponsors for the said biennial edition.

The Philippine Sports Commission (PSC) was informed of the transfer.

“We’re very thankful to the Phisgoc for donating the saved money that we can use for our athletes in the future,” Tolentino said.

The Phisgoc operated with a P6 billion fund for the hosting of the 2019 SEA Games, where the country emerged overall champion. The funds were from the government and private sector.

Tolentino said the trust fund will be the source of cash incentives or bonuses for successful athletes.

Related Tags

Southeast Asian Games

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