MVP offers P12 million for Olympic gold

BACOLOD – Amateur boxing chair Manny V. Pangilinan said yesterday Smart Communications is offering no less than P12 million for a Filipino boxer who will win a gold medal in the 2012 London Olympics.

“This is the first major step from Bacolod to London. Please stay with us in our quest for the Olympic gold in London,” said Pangilinan in announcing the rich cash incentives for Filipino boxers.

Pangilinan, also the Samahang Basketbol ng Pilipinas president and PLDT and Smart chair, bared that an Olympic silver medal will be worth P3 million while P1 million will be offered for the bronze medal during the ABAP national congress at the L’Fisher Hotel here.

Achievers in other international boxing tournaments also stand to receive rich rewards.

Cash prizes worth P2 million, P1 million and P500,000 await gold, silver and bronze medal winners in the Asian Games; P1 million, P500,000 and P250,000 in World Championships; P300,000, P200,000 and P100,000 in the Southeast Asian Games and P30,000, P20,000 and P10,000 in minor international tournaments.

ABAP president Ricky Vargas, for his part, urged boxing stakeholders to join in the four-year campaign for the country’s first Olympic gold medal.

“With the same dedication, hard work, determination, courage and sacrifice, we ask our boxers to embrace our quest for the Olympic gold,” said Vargas.

“I ask every ABAP official and regional president to demonstrate these same values and discipline we want to instill amongst our boxers,” he added.

The cash rewards are being offered on top of the government’s incentive schemes under Republic Act 6084, or the Athletes Incentive Act, including P5 million that would be given to the Olympic gold medalist.

The congress was attended by some of the country’s top boxing and sports officials that included Philippine Sports Commission chair William “Butch” Ramirez, Philippine Olympic Committee and Bacolod City Congressman Monico Puentevella, former boxing president and chair Manny Lopez and Gov. Raul Daza.

Also gracing the event were 1996 Atlanta Games silver medal winner Mansueto “Onyok” Velasco, 1992 Barcelona bronze medalist Ruel Velasco, Misamis Oriental Gov. Oscar Moreno and Cuban coach Juan Enrique Steyners-Tissert.

The reward scheme is aimed at enticing the most talented amateur boxers in the country today led by the promising Dodie Boy Peñalosa Jr., son of the former world champion.