Jose Cojuangco Jr., president of both Philsoc and the Philippine Olympic Committee, yesterday said Philsoc "will settle all obligations as soon as the funds become available."
Philsoc is reportedly facing millions of pesos in unpaid bills for the accommodation, transportation and meals of foreign and local officials, including the VIPs.
Close to 5,000 athletes from 11 countries competed in the SEA Games that was hosted by the Philippines only for the third time in history. The foreign athletes shouldered their own expenses.
While the bills in Metro Manila reportedly amounted to P74 million, those in Bacolod and Cebu, which also hosted more than a handful events, have reached P15.6 million and P7 million, respectively.
Philsoc said it would settle all the bills when the millions from the sponsors start coming in.
"Philsoc is just waiting. Then everything will be settled," added Cojuangco through his spokesman Joey Romasanta.
The Philsoc president is scheduled to appear in today’s SCOOP sa Kamayan forum to discuss a lot of matters, including the country’s recent victory in the SEA Games and the POC’s future plans.
How Philsoc incurred such huge debts will be among the questions Cojuangco will face.
Bacolod Congressman Monico Puentevella, who is also a member of Philsoc, however, said everything will be settled soon.
"It will be resolved by tomorrow. There’s just a little delay," he said in a text message.
A sports official from Bacolod said that of the P24 million that was supposed to be provided to the province by Philsoc, only P9 million has been released.
Cebu, for its part, only got P3 million from Philsoc which is supposed to throw in P10 million to the Queen City of the South.
A local daily in Cebu reported that organizers of the SEA Games owe three hotels P4 million, five food caterers P2 million and a bus company P1 million.