Millions of cash incentives awaits Asian Games medalists

Siklab Atleta Sports Foundation announced it will add P1 million to an already rich bounty for a gold medal in the Asian Games set August 18 to September 2 in Jakarta and Palembang, Indonesia.

Philippine Sports Commission chair William “Butch” Ramirez said that apart from the extra million for gold, Siklab Atleta will also give silver medalists an additional P500,000 while bronze medalists get an extra P250,000.

This came four months after Philippine Olympic Committee president Ricky Vargas also bared an additional P2M, P500,000 and P300,000 for a gold, silver and bronze in the quadrennial event.

Add it to the P2 million, P1 million and P400,000 from government the Expanded Athletes Incentives Act and a gold will be worth P5 million, a silver P2 million and a bronze P1.2 million in the Asiad.

“They really want the country to win an Olympic gold and they want to start in the Asian Games where they will choose the athletes they will support for that bid,” said Ramirez.

Siklab Atleta is a foundation chaired by President Adviser and Phoenix Petroleum president Dennis Uy with an aim of delivering the country’s first ever Olympic gold.

The group has also pooled funds from private sponsors to provide the country’s best athletes with training equipment and facilities, coaching, exposure to international competitions, education, housing and livelihood programs.

It is backed by SM Investments Corp., Belle Resources, RFM, Alaska, Tanduay Distillery, Inc., JG Summit, Megawide Construction, International Container Terminal Services, San Miguel, PLDT, United Laboratories, Ulticon Builders, Phoenix Petroleum, 2GO, Megaworld, Robinsons Land and Piatco.

Officials are hoping the extra incentives will help the country improve its 22nd place finish in the 214 Incheon Asiad thanks to BMX rider Daniel Caluag’s lone gold.

Sports expected to legitimately vie for gold are cycling, boxing, taekwondo, jiu-jitsu, gymnastics, bowling, athletics, kurash, bridge, judo and dragon boat.

A total of 272 Filipino athletes will be competing in 35 categories during this year’s Asian Games in Jakarta, Indonesia starting Saturday.