Mike Romero adds P3M to Olympic gold medal pot

MANILA, Philippines – Deputy Speaker Mikee Romero sweetened the pot for Filipino athletes competing in the Tokyo Olympics unfolding on Friday after pledging P3 million, P2 million and P1 million for a gold, silver and bronze medal, respectively, in the quadrennial event.

“Out of my company’s expenses, my own pockets, itataya ko na to give extra motivation to our athletes,” said Romero, accompanied by Eric Arejola, during Tuesday’s online Philippine Sportswriters Association (PSA) Forum.

“This is the least we can do as sports leaders,” he added.

Thanks to the additional incentive, a Filipino gold medalist will now receive P33 million plus a house and lot in Tagaytay from Philippine Olympic Committee (POC) president Abraham Tolentino.

A silver is now worth P5 million while a bronze P3 million.

As mandated by law, government will reward P10 million, P5 million and P2 million for a gold, silver and bronze, which were matched by both the Manny V. Pangilinan Sports Foundation (MVPSF) and San Miguel’s Ramon Ang.

More is expected to come following Philippine Sports Commission (PSC) William Ramirez's earlier prediction the incentive could reach around P50 million.

And now Romero, who is supposed to be in the Olympic inaugurals on Friday but decided to opt out due to attend Monday's State of the Nation Address (SONA) instead, comes in.

“Sayang andun sana ako, I feel the Philippines will get its first gold, napakalakas ng ating lineup,” he said.