Yulo’s Cebuano coach to get P10M incentive

CEBU, Philippines — Carlos Yulo’s double gold-medal finish in the 2024 Paris Olympics also brings fortune to his Cebuano coach Allen Aldrin Castañeda after the Philippine Amusement and Gaming Corporation (PAGCOR) announced Tuesday that he will also get 50% of the amount the athlete will receive as cash incentives for bringing pride and honor to the country.

PAGCOR Chairperson Alejandro Tengco said that since Yulo will get P20 million for winning two Olympic gold medals, Castañeda is also entitled to P10 million.

"So in that case, Mr. Yulo will receive P20 million, P10 million per gold that he was able to produce. Then his coach and trainer will receive a total of P10 million, basically P5 million per gold,” Tengco said.

Castañeda is from Barangay Hipodromo, Cebu City.

During the deliberations for PAGCOR's proposed 2025 budget at the House of Representatives, Tengco said that Yulo's trainer and coach will also receive P10 million in cash incentives for his two gold medal finishes in the men's vault exercise finals and the vault exercise finals.

The release of cash incentives to athletes who win major international sports competitions is mandated by Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act, which provides a P10 million reward for gold medalists.

The law requires the cash incentives to come from PAGCOR, chargeable against its National Sports Development Fund.

Aside from these government-mandated incentives, Yulo is also set to receive a P6 million cash incentive from the House of Representatives. Millions worth of pledges have also poured in from the country's business leaders, including a three-bedroom property from the real-estate company Megaworld worth P38 million. — Philstar.com (FREEMAN)