Marcos awards P50M to Paris Olympics athletes

President Ferdinand 'Bongbong' Marcos Jr. awarded financial incentives totaling at least P50 million to Filipino athletes who participated in the 2024 Paris Olympics during a welcome ceremony at Malacañang Palace on Tuesday.

The President announced that each athlete received an additional P1 million, while coaching staff members were given P500,000 from his office as recognition for their support during the competition.

Carlos Yulo, who won two gold medals, and bronze medalists Eumir Marcial, Sam Catantan, Araceli Medina Petecio, and Eumir Villegas were among those honored at the ceremony.

Under the National Athletes and Coaches Benefits and Incentives Act (RA 10699), Yulo is now guaranteed a total of P40 million from the government for his two gold medals, while bronze medalists Aira Cordero Villegas and Nesthy Alcayde Petecio are guaranteed to bring home P4 million.

President Marcos encouraged athletes to collaborate with the government to enhance support for Filipino sports and praised Yulo's performance as historic.