After winning two gold medals in the 2024 Olympics in Paris, France, Filipino gymnast Carlos will receive Php 20 million from the Philippine Amusement and Gaming Corporation (PAGCOR).
PAGCOR Chairperson Al Tengco said on Tuesday, August 6, that Yulo will receive Php 10 million for each gold medal that he won in the Paris Games.
Meanwhile, Coach Allen Aldrin Castañeda, the trainer of Yulo, will receive 50 percent of the cash incentives that the Two-Time Olympic gold medalist and Two-Time World Champion will get.
"Mr. Yulo will receive Php 20 million; 10 million per gold that he was able to produce. His coach and his trainer will receive a total of Php 10 million," Tengco announced during the hearing of the House Committee on Appropriations.
Republic Act No 10699, also known as National Athletes, Coaches and Trainers Benefits and Incentives Act, mandates PAGCOR to fund the cash incentives that national athletes will receive for winning medals in competitions.
Under the law, Olympic gold medalists will receive Php 10 million, silver medalists will get Php 5 million, and bronze medalists will collect Php 2 million.
Yulo kick-started the medal haul of the Philippines in 33rd Olympics after he topped the vault and floor exercises of the men's artistic gymnastics.
