Carlos Yulo stands to receive an impressive array of incentives, potentially totaling up to P47 million in cash and other rewards, following his historic performance at the 2024 Paris Olympics.
Yulo made history by becoming the first Filipino gymnast to secure a podium finish and the second Filipino athlete to bag a gold at the Summer Games.
Yulo’s gold medal in the men’s floor exercise, earned with a score of 15.000 points at the Bercy Arena, entitles him to P10 million under Republic Act 10699, the National Athletes and Coaches Benefits Act. In addition, the Manny V. Pangilinan Sports Foundation is expected to award him another P10 million in cash bonuses for his stellar performance.
Beyond the monetary prizes, Yulo will receive a fully furnished two-bedroom unit in McKinley Hill, valued at P24 million, from Megaworld. The 24-year-old gymnast, who triumphed over defending gold medalist Artem Dolgopyat of Israel and Great Britain’s Jake Jarman, will also receive P3 million from the House of Representatives.
Moreover, Yulo is set to enjoy free meals for life, courtesy of Vikings Buffet and Restaurant, which offers a lifetime buffet to any Filipino medalist in the Paris Games. His association with sports betting app Arena Plus, where he serves as a brand ambassador, could also bring additional surprise rewards.
He is also set to receive cash incentives from the Philippine Olympic Committee and a personal gift of a house and lot in Tagaytay from POC president Bambol Tolentino.
The scale of Yulo’s incentives mirrors the significant rewards received by previous Filipino Olympic champions. Weightlifting star Hidilyn Diaz, for instance, accumulated over P50 million in rewards following her gold medal win at the Tokyo Games in 2021. Her prizes included cash, properties, and a lifetime of free flights, with contributions from notable figures such as San Miguel Corp.’s Ramon Ang and businessman Dennis Uy.
Yulo isn’t finished yet as he looks forward to another podium finish in the vault apparatus.
Boxer Aira Villegas is also set to receive cash incentives and other bonuses since she is already assured of a boxing bronze. Villegas earned a close victory over France’s Wassila Lkhadiri in the women’s flyweight boxing quarterfinals, with three judges scoring the match 29-28 in her favor. She will receive her rewards under Republic Act 10699. Villegas will go for the finals or a sure silver medal if she hurdles the semifinals.
