Tuñacao will receive the Boxer-of-the-Year Award for his long reign as the World Boxing Council flyweight champion in 2000 from President Gloria Macapagal-Arroyo, guest of honor and speaker, and Laura Elorde, widow of the former world junior lightweight champion in what is also called the "Banquet of Champions".
Tuñacao heads seven top honorees, 17 world and international champions and 18 Philippine titlists who will receive the awards in rites coinciding with the birth anniversary of Da Flash, one of the country’s greatest prizefighters in the last century, in whose honor the awards are given.
The top honorees in 2000 are Manny Pacquiao and Gerry Peñalosa (most exciting and popular boxers), Erbito Salavarria (best trainer), Silvestre Abainza (best referee), Alex Villacampa (best judge), Felixberto Jardenil (best matchmaker), and the Abner Cordero-Ricky Gayamo bout as the best fight of the year.
The honorees are the first awardees of what is envisioned as an annual event for the country’s pro boxers.
It is aptly inaugurated in the opening year of the 21st century, but the occasion also honors boxing champs from a past era, from Pancho Villa, the country’s first Filipino world champion who made a name in the 30s, to boxing legends after the War.
Special Awards will be conferred on former world champions Rolando Navarrete (WBC superfeatherweight, 1981) Rene Barrientos (WBC superfeatherweight,1969), Bernabe Villacampo (WBA flyweight, 1969), Pedro Adigue (WBC welterweight, 1968) and Dodie "Boy" Peñalosa (IBF junior flyweight, 1983; and IBF flyweight, 1985).
Villa leads posthumous awardees who include boxing commentator Joe Cantada, trainer Rolando "Toti" Sangalang, and announcer Manuel "Maning" Soriano.
The Elorde Awards is sponsored by Family Rubbing Alcohol, Enervon Prime, Philippine Amusements and Gaming Corp., Philippine Charity Sweepstakes Office, Lakpue Drug, Inc., Kameraworld, and Standard Appliances.