Uy vows to raise P1B fund for Filipino athletes

MANILA, Philippines - Presidential adviser for sports Dennis Uy promised to help raise P1-billion from his fellow businessmen from the private sector to augment the warchest for Filipino athletes and grassroots development.

Speaking at the launch of the Philippine Sports Institute, Uy noted how lamentable the country’s sports budget is compared to neighbors like Thailand, which spends some 10 to 20 billion (baht) for athletes, coaches, training and facilities. 

“Hopefully, in the coming months, I will meet the private sector to augment the budget of Philippine sports,” said Uy, president and CEO of Phoenix Petroleum.

“(The target is) To raise at least P1-billion in pledges from sports-loving business people and conglomerates with the objective to support the programs such as the PSI to develop the grassroots and with the objective of hopefully getting our first Olympic gold in 2020,” he said.

The Philippine Sports Commission draws funding from remittances from Pagcor for elite sports and from the general appropriations.

With money not enough, the PSC had, in the past, sought help from the private sector to “adopt” athletes. One example was the buildup for the 2005 Southeast Asian Games on home soil which had big corporations sponsoring bets who went on to lead Team Phl to the overall crown in the meet.