Huge payday awaits Yulo

A handsome incentive package awaits Carlos Yulo after closing his campaign with two gold medals on Sunday at the Bercy Arena in Paris.

The 24-year-old Yulo is on the verge of becoming a multi-millionaire after ruling the floor exercise and vault events of the Summer Games.

According to the Republic Act No. 10699 or the Athletes and Coaches Incentives Act, a gold medalist in the Olympics stands to receive P10 million.

With Yulo cornering two gold medals, he is expected to pocket P20 million from the government.

Aside from that, other donors, including senators, congressmen, and President Ferdinand “Bongbong” Marcos, are also expected to provide cash incentives, as well as contributions from the private sector like the Philippine Olympic Committee.

In fact, real estate titan Megaworld Corporation already dangled a two-bedroom condominium unit worth P24 million to whoever will win an Olympic gold medal.

Bounty Fresh Group Holdings Inc. and Chooks to Go added to the bonanza when it announced that it will reward P3 million to Yulo for his outstanding achievement in Paris.

“We, at Bounty Fresh, are immensely proud of Carlos Yulo’s extraordinary achievement,” Bounty Fresh Group Holdings Inc. executive vice president Patricia Cheng-Lim said.

“As a Filipino brand, we believe in celebrating and supporting our homegrown talent, and this reward is a testament to our admiration to Carlos.”

“We hope his success will inspire the next generation of Filipino athletes to pursue their dreams with the same passion and determination.”

With Yulo winning not one, but two medals, there is a strong possibility that he could surpass the more than P50 million windfall enjoyed by weightlifter Hidilyn Diaz when she ruled the Tokyo Olympics three years ago.