Manny Pangilinan, a Filipino businessman and sport enthusiast has planned to award a cash prize of P10 million to all the Tokyo Olympics bound Philippines athletes
This move by Manny will encourage athletes to win a gold medal in the Olympics.
The MVP Sports Foundation (MVPSF) has also come up with a plan that all those players who win a silver medal would be awarded P5 million and all those players who would win a bronze medal would be awarded P2 million respectively for the Olympics as was decided on July 8.
Manny Pangilinan announces cash prize for Tokyo Olympics bound Philippines Contingent
Pangilinan, while praising the efforts of MVPSF, said during a recent interview with rappler, “It was formed in 2011. The main objective of announcing the cash prizes is to make sure that out athletes work hard and are motivated enough to win a gold medal during the marquee event. I think We have a good chance of winning medals in the games this year.”
Al Panlilo, who is the President of MVPSF, during the same interview said, “We really appreciate the sacrifices made by our athletes. We are very well aware of the fact that it was difficult to train during the pandemic and they are trying really hard to give Filipinos something to look forward to.”
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Incentives launched by MVPSF For Philippines Sports
MVPSF have given out incentives, which will be included as a part of the top bonus system, which is the part of Philipines Sports Commission Act (RA 10699) and would be awarding the same amounts to medal winners of same color respectively.
The foundation is supporting a total of 14 out of the 19 Filipino athletes, who would be participating in the Tokyo Olympics and has also helped them financially for training abroad.
List of Olympics bound Philippines Contingent
During the 2016 Rio Olympics, the Filipino contingent consisted of 13 athletes, and out of those only one could win a medal for the country, Hidilyn Dyaz, who had won a silver medal in weigh lifting. For the Tokyo Olympics 2021, the country wanted to send around 18-20 athletes and out of which only eight could qualify for the marquee event. So let’s have a look at the qualified players:
1. Neshpetecio
2. Ernest Obiena (Pole Vault)
3. Carlos Yulos (Gymnastics)
4. Eumir Marical (Boxing)
5. Irish Magno (Boxing)
6. Carlo Paalam (Boxing)
7. Neshthy Petecio (Boxing)
8. Hidilyn Diaz (Weightlifting)
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