Ramon Ang Will Award Filipino Olympic Gold Medalists P10 Million Each
Ramon Ang, the country’s 12th richest, has pledged to will award Filipino Olympians who will snatch gold medals at the Tokyo Olympics P10 million each. Ang has matched the earlier prize money offer of the Manny V. Pangilinan Sports Foundation (MVPSF) and the Philippine government’s Expanded Athletes Incentives Act.
Ang and Pangilinan both offered P10 million for gold medalists, P5 million for silver medalists, and P2 million for bronze medalists.
Abraham Tolentino, president of the Philippine Olympic Committee (POC), thanked Ang and Pangilinan for their support.
“Nagpapasalamat ako sa MVPSF and I’m officially announcing na nagpapasalamat din ako kay Mr. Ramon Ang of San Miguel na nag-commit na din ng same amount,” said Tolentino during the Philippine Sportswriters Association (PSA) Forum on July 13.
(“I thank MVPSF and Mr. Ramon Ang of San Miguel Corporation who pledged the same amount.”)
Filipino Olympic gold medalists stand to receive a combined prize of P30 million from the government, Ang, and Pangilanan, on top of other windfalls that would come with their win.
“Hopefully marami pa darating lalo na pag na deliver na yung gold, baka umabot pa ng P50 million yan, which is equivalent to $1 million other countries are giving,” said Tolentino.
("Hopefully, more will arrive when they deliver the gold [medal], it could even reach P50 million, which is equivalent to $1 million other countries are giving.")
But there are athletes like Michael Martinez, the Philippines’ lone Winter Olympian at the 2014 Sochi Winter Olympics, who had to resort to a crowdfunding campaign to pay for his training expenses in the U.S.
More than pledging prize money, many have urged the government to actively support athletes in their training expenses.
“Michael is already taking crucial steps to gain the best chances of becoming one of the contenders at the Winter Olympics. He is currently going through intensive training in the USA under Nikolai Morozov, a renowned top international coach in figure skating,” a description in the page reads.
“No tropical nation has ever won a Winter Olympic medal, and for all intents and purposes, Michael is vying to be the first.”