Category — Philippines

The US$220,000 that the Philippines is offering to an Olympic gold medalist is the second highest incentive I’ve come across so far. Thailand is offering the richest incentive at US$ 314,000 for an Olympic gold. More at How Much Money Do Olympians Make.

Philippines offer US$220,000 for gold medal
The Philippine government and the private sector are offering 9.5mil pesos (US$220,000) to any athlete who brings home the country’s first-ever Olympic gold medal, an official said yesterday.

The Philippines have not won an Olympic gold since their first Games, at Paris in 1924. The most recent medal of any colour was silver in boxing in Atlanta in 1996.

“This is an incentive. The first gold winner will get the money,” said Philippine Olympic Committee spokesman Joey Romasanta.

The government pledged 5mil pesos (US$116,000) and the rest came from donations from the private sector, Romasanta said.

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From the Philippine Daily Inquirer:

Just 108 days before the Beijing Olympics opens, the Philippines only has 12 qualifiers to show—and only three of them possess solid chances at winning the country’s first ever gold medal in the quadrennial games.

But chief of mission Monico Puentevella said on Tuesday the lean but mean delegation can still pull it off with taekwondo and boxing as the brightest spots.

“Even in the world of sports miracles do happen. Don’t lose hope. And let us not raise false hopes,” said Puentevella during the PSA Forum at Shakey’s UN Avenue.

The Philippines has gone home empty-handed during the last two Olympics in Sydney 2000 and Athens 2004. The last time the country won a medal was through Mansueto “Onyok” Velasco, who took the silver in boxing in the 1996 Atlanta Olympics.

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