In a momentous recognition of athletic excellence, President Ferdinand R. Marcos Jr. has announced an additional P20 million reward for Carlos Yulo, following the gymnast’s extraordinary performance at the Olympic Games Paris 2024.
Yulo’s historic achievement of clinching two gold medals in men’s artistic gymnastics—one in floor exercise and another in vault—has been met with a substantial financial incentive from the Office of the President.
This reward is in line with the provisions of Republic Act 10699, known as the National Athletes, Coaches, and Trainers Benefits and Incentives Act, which stipulates a P10 million incentive for each Olympic gold medalist.
Yulo previously received the same amount from the Philippine Sports Commission (PSC), totaling P20 million.
In addition to the financial reward, Marcos conferred the Presidential Medal of Merit upon Yulo.
(C) Presidential Communications Office
This prestigious honor is awarded to individuals who bring international acclaim to the country in various fields, including sports, thereby fostering national pride and excellence.
(C) Presidential Communications Office
The President also matched the incentives given to bronze medalists Nesthy Petecio and Aira Villegas, awarding them an additional P2 million each.
(C) Presidential Communications Office
Non-medalists, while not covered under the law, were also recognized with P1 million in incentives. The PSC is expected to provide a similar amount to these athletes.
During a ceremonial event at Malacañang Palace, where the athletes were warmly welcomed after arriving from Paris via a chartered flight from Dubai, President Marcos emphasized the significance of their achievements.
“Qualifying for the Olympics is an exceptionally challenging feat,” Marcos stated.
“All our athletes who made it to the Olympics deserve recognition. We will match the incentives provided by the PSC.”
Each athlete was also presented with a presidential citation, acknowledging the rigorous challenge of Olympic qualification.
(C) Presidential Communications Office
