Vargas bares P4M bonus for Asiad gold

Philippine Olympic Committee president Ricky Vargas yesterday announced additional incentives for gold, silver and bronze medals in this year’s Asian Games in Indonesia as he raised the bar anew – to improve the country’s overall rank, from 22nd overall in 2014 in Incheon, to a place in the top 15 in the quadrennial event set Aug. 18 to Sept. 2.

Vargas said gold medalists will get an extra P2 million from the POC, P500,000 for silver and P300,000 for bronze. Those from team events will get incentives, too, but under a different computation.

Under the PSC package, a gold in the Asian Games is worth P2 million, silver P1 million and bronze P400,000, meaning every gold this year will be worth P4 million.

“I’m committing these cash incentives for the athletes,” added Vargas of the amount that may come from the P20 million seed money provided by sports patron Manny V. Pangilinan to the POC after last month’s elections.

Sports that are expected to seriously vie for the gold are taekwondo, jiu-jitsu, gymnastics, bowling, kurash, bridge, judo and dragon boat.

However, it’s easier said than done – if the results of the last Asian Games will be used as a gauge – but Vargas remains optimistic.

“I think it can be done,” said Vargas during yesterday’s POC General Assembly held inside the vast Meralco compound in Ortigas.

“We want to go to the level of number 15 and that may require five gold medals. I’m not looking at the medals but improving our ranking,” he said.

Four years ago, the Philippines fielded 159 athletes to Incheon but managed only one gold medal courtesy of BMX rider Daniel Caluag.