Millions in incentives coming in for Yulo

MANILA, Philippines — When he comes home, gold medalist Carlos Yulo’s 2024 Paris Olympic Games victory will be made even sweeter with more prizes, courtesy of the country’s tycoons.

Andrew Tan’s property giant Megaworld Corp. is rewarding Yulo with a fully furnished two-bedroom residential condominium unit in Bonifacio Global City valued at P24 million.

The men’s gymnastics champion’s new condominium is located within Megaworld’s 50-hectare McKinley Hill township in Taguig.

“That’s our commitment, not just for him, but to every Filipino Olympic athlete who will get gold,” Megaworld vice president for public relations Harold Geronimo told The STAR yesterday.

The SM Group of the Sy family, meanwhile, has pledged P1 million worth of products from SM Retail, both department stores and supermarkets, consumable within one year.

Popular buffet restaurant chain Vikings pledged on its official Facebook page a lifetime free buffet to the celebrated athlete.

Another tycoon-led group will also be announcing today its reward for Yulo, The STAR has learned.

Yulo, who topped the floor exercise finals of the men’s gymnastics in the Paris Olympics, is the country’s second Olympic gold medalist after weightlifter Hidilyn Diaz.

Diaz, who won her gold medal during the Tokyo Olympics three years ago, received hefty cash prizes and incentives from companies and tycoons such as Manuel V. Pangilinan and Ramon Ang.

Aside from the prizes coming from the country’s most notable tycoons, the government – according to Section 8 of Republic Act 10699 – will be awarding Yulo with P10 million and an Olympic Gold Medal of Valor to be issued by the Philippine Sports Commission.

Senators commend Yulo

Senators commended Yulo, the country’s first gymnast to win a gold medal in the Paris Olympics.

Sen. Sherwin Gatchalian “joined the Filipino people in congratulating Carlos Yulo for clinching an Olympic gold in the floor exercises in gymnastics. This historic win brings a special moment of pride for our country, and proves that the Olympic gold is no longer elusive for Filipino athletes. He has inspired countless Filipinos with his exceptional performance.”

Gatchalian said, “Our task as a nation is to ensure that future generations of athletes have all the support they need to succeed on the world stage. This is why we created the National Academy of Sports, where promising young athletes will be honed to achieve their full potential.

“The whole country is cheering and proud of you! Mabuhay ka, Caloy!” he added.

Sen. Nancy Binay said, “A tribute to the country’s first gymnast gold medalist, Carlos Yulo! The nation cried, screamed, and applauded alongside Caloy’s historic day at the Paris Olympics.”

She noted that Yulo garnered a 15.000 score in the men’s floor exercise on Aug. 3 to become the first Filipino gymnast to reach the medal podium in the quadrennial games. “His win is also the Philippines’ first medal in the ongoing Olympics.”

Binay said Yulo overcame various setbacks and challenges, which included a change of coach and moving back to the Philippines from Japan for his training, to get to this moment.

“We all await your victorious return, and we will be sure to welcome you with all the warmth and pride that we can muster,” Binay said. “Thank you very much for displaying what Filipinos can achieve, Caloy. Mabuhay ka!”

Sen. Bong Go offered his congratulatory message, and said, “Your winning of the gold medal at the Olympics gives great honor to the entire nation. You are a big reason for Filipinos to be more united at a time when the stability of our people is being tested due to the challenges of the times. Carlos, you bring honor to the Filipino!”

“As chairperson of the Senate Sports Committee and Senate Youth Committee, I will continue to support people like you and young Filipinos who also want to be champions in the future. It’s a great feeling when you work hard and sweat for your win. This is proof that when the people support our athletes, they will go far,” he said.

“This is also a challenge for us to continue and strengthen our sports programs to give other athletes the opportunity and inspiration to show their talent and win, not only in sports, but in any field they choose in life,” Go said. “To our other athletes and coaches at the 2024 Paris Games, we wish you success! Your success is also the success of Filipinos! Fight Philippines! Go, go for gold!”

More prizes from the House

Yulo stands to receive some P3 million in cash incentives from the House of Representatives.

Speaker Martin Romualdez said Yulo will also be conferred a “congressional medal for his  exceptional achievement and contribution to Philippine sports.”

“Caloy has earned this reward through sheer hard work and unmatched talent. This incentive is a testament to our unwavering support for Filipino athletes who strive for greatness on the global stage,” he noted.

Romualdez added that Yulo’s historic victory, “symbolizes the indomitable spirit and resilience of the Filipino people.”

Earlier, Romualdez extended financial assistance to 22 Filipino athletes participating in the Paris Olympics.
He also initiated  a fundraising campaign among his House colleagues to provide additional cash incentives to Yulo.

“We celebrate a monumental achievement that resonates deeply with every Filipino heart. Carlos Edriel Yulo has not only soared to the pinnacle of athletic excellence, but has also emerged as a sports hero and national treasure, igniting a beacon of hope and inspiration for all Filipinos,” he said.

Hero’s welcome

A “hero’s welcome” is now being prepared for Yulo and other Paris Olympics athletes.

Manila Mayor Honey Lacuna-Pangan said the “grandest welcome will greet him and all our Paris Olympians.”

Pangan added that the local government would present Yulo with cash incentives, awards and symbols of “eternal gratitude” from Manila.

“We sang along as Caloy sang the Philippine national anthem. Tears welled up in our eyes and flowed in streams on our faces as the Philippine flag rose in Paris,” the mayor said in a statement. — Cecille Suerte Felipe, Sheila Crisostomo, Mark Ernest Villeza