Furor over fund

Members of the Philippine Olympic Committee (POC) executive council claimed that they are in the dark regarding the fund that the organization raised during the country’s hosting of the 30th Southeast Asian (SEA) Games.

POC first vice president Joey Romasanta questioned the fund, saying that POC president Abraham “Bambol” Tolentino has yet to give them a report on how much they raised and how much would be their share from private sponsors who bankrolled the hosting of the prestigious biennial meet.

Romasanta, an old hand in the Olympic movement, stressed that there were two resolutions signed during the administration of former POC chief Ricky Vargas that gave them full control of the Philippine Southeast Asian Games Organizing Committee (Phisgoc) and the sponsorship money it would raise.

Aside from that, the POC was given the right to review all contracts and decide which would be favorable to the organization, which is the franchise-holder of the Games in accordance to the recognition given to it by the International Olympic Committee, Olympic Council of Asia and the SEA Games Federation Council.

But so far, they have yet to hear anything form either Tolentino or Phisgoc, which is headed by Speaker Alan Peter Cayetano.

“Actually, there were two board resolutions signed during the term of former POC president Ricky Vargas,” Romasanta told Daily Tribune in a telephone conversation.

“One, that the POC will have full control over Phisgoc and, second, that the POC will form a committee that will review all the Phisgoc contracts.”

“But none of those two resolutions were followed.”

In a move that shocked Romasanta and other members of the POC

executive council, Tolentino came up with an announcement giving cash incentives to SEA Games medalists.

Tolentino said a total of P52.87 million would be given to SEA Games achievers with the gold medalists taking home P200,000; silver medalists P100,000 and bronze medalists P50,000.

He said the fund was sourced from the remaining budget of the POC from the donations of San Miguel Corporation, MVP Sports Foundation and the Philippine Basketball Association on top of the P15 million pledged by Davao-based businessman Dennis Uy and P6 million from members of the House of Representatives.

The distribution of incentives is set today during the POC general assembly at the Conrad Hotel in Pasay City.

Romasanta, however, stressed that this move doesn’t have board resolution.

“The problem here is that we do not know what are the actual conditions of the donations. We do not have the means to identify whether the fund is meant for athletes’ cash incentives or budget for training. We really don’t know,” Romasanta said.

“We do not have any knowledge about that. There’s no board approval about that.”

POC chairman Steve Hontiveros echoed Romasanta’s claim, stressing that they deserve to be given a breakdown as to how much the POC would be getting from private sponsorships.

Hontiveros, also a seasoned sport official, said Tolentino vowed

to give the executive council a run down of all the private fund that they would raise from the hosting of the SEA Games.

“During our previous meeting, he (Tolentino) informed the Phisgoc to give records to the POC regarding private fund that would be raised during the SEA Games,” he said.

“But up to now, we still haven’t received anything. It’s all up to Mr. Tolentino to request the Phisgoc to submit all neccesary details.”

Hontiveros added that the POC has the right over the proceeds since it is the franchise-owner of the SEA Games.

“Whatever proceeds there would be, it must all go (to) the POC.”

POC board member Clint Aranas said he doesn’t see anything wrong in giving cash incentives, especially to deserving athletes.

However, there should be a sense of transparency since the POC owns the biennial meet.

None of those two resolutions were followed.

“The board is not aware of it,” he said.

“We want the exact fund to be given to our athletes. We must give credit where credit is due.”