A festive yet solemn celebration of the Olympic Day was held Friday at the University of the Philippines Track and Field Oval with more than 70 national athletes who won medals at the 32nd Southeast Asian Games ceremonially receiving cash bonuses from the Philippine Olympic Committee.

The POC incentives were drawn from the support of the Manuel V. Pangilinan Sports Foundation to the POC Trust Fund initiated by its president Abraham "Bambol" Tolentino.

"The POC is so grateful with Mr. Manny V. Pangilinan for his continuous generosity to help our athletes to excel in their respective sports through the years," Tolentino said.

"The athletes are very thankful and they promise us to do their best in future competitions."

A total of 260 medalists in Cambodia will receive the cash bonuses starting next week until the end of the month at the POC offices inside the PhilSports Complex in Pasig City.

MVPSF executive director Jude Turcuato formally turned over the check for the bonuses to POC deputy secretary general Karen Caballero, and POC deputy secretary-general for international affairs Bones Floro after the ceremonial Olympic Day walk-and-run and Zumba presentation by members of the Special Olympics Philippines.

"It's a good fit for us because the MVPSF was built for the athletes to win medals for the country," Turcuato said.

"We are celebrating now the Olympic Day and it's a good timing. We want to thank our athletes as well for giving their best."

Individual gold medalists will get P100,000 each, silver medalists P50,000 and bronze medalists will earn P25,000, according to Caballero. Medalists in team sports are also entitled to the bonuses.

Former long jump queen Elma Muros-Posadas, 1992 Olympics taekwondo bronze medalist Stephen Fernandez and 1992 Olympics boxing bronze medalist Roel Velasco joined the celebration along with UP College of Human Kinetics Dean Francis Carlos "Kiko" Diaz.

Olympic Day is held annually by national Olympic committees to celebrate the founding of the International Olympic Committee by Baron Pierre de Coubertin on 23 June 1894.