Olympic gold is worth P8-million

Eight million pesos and counting.

As of yesterday, this is the kind of bonanza that awaits any Filipino athlete who can bring home the elusive gold medal from the 28th Olympic Games which fires off Friday in the ancient city of Athens, Greece.

Pacific Internet, one of the country’s top internet service providers, was the latest to throw in a lot of cash into the incentive package being prepared by the national government and the private sector.

Under Republic Act 9064, an Olympic gold is worth P5 million, silver P2.5 million and bronze P1 million. Samsung and Bounty Agro Ventures, Inc. was the first from the private sector to throw in P1 million each for a gold medal.

Sonny Divina, vice president for sales and marketing of Pacific Internet, presented a P1 million check to Philippine Sports Commission (PSC) chair Eric Buhain yesterday at the latter’s office.

"It’s a gesture that shows your belief in the Filipino athlete," Buhain told Divina, who added that their company, led by its president Jojie Yap, is also putting up P300,000 for a silver and P100,000 for a bronze in Athens.

"Eight million pesos is just the start. I’m sure that if and when the medal comes, there’ll be more from the private sector to throw in cash incentives," added the PSC chief, who leaves for Athens today with Tourism Secretary Obet Pagdanganan.

Boxer Mansueto "Onyok" Velasco was the last Filipino athlete to receive such a windfall when he won the lightflyweight silver in the 1996 Atlanta Olympics. Aside from millions of pesos, he was also rewarded a house and lot by the Violago family and two brand new cars by Nissan.

"We’ve always wanted to establish our presence in sports. That is the direction of our company and this is just a humble beginning on our part," said the Pacific Internet executive.

Divina said they’ve originally wanted to lure Filipino champions Manny Pacquiao or Jennifer Rosales into their planned sports program but were beaten to the draw by communications giant PLDT.

Divina said they will try to make a stronger presence in the 2005 Philippine SEA Games by probably allocating a certain amount for every internet card sold for the use of the national athletes.