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Carlos Edriel Yulo has etched his name in Philippine sports history with a golden performance at the Paris Olympics on Saturday, August 3, clinching the country’s first-ever gymnastics gold medal.
After his historic win, Yulo is expected to receive numerous pledges for bringing pride to the Philippines, including millions in cash incentives from both the government and private companies, in addition to various other rewards. So far, here are some of the incentives and rewards that Caloy will receive for winning gold in the Olympics, as of this writing.
The 4-foot-11 Yulo is entitled to a substantial cash prize of P10 million under Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act. This, along with other government-mandated benefits, serves as a token of the nation’s gratitude for Yulo’s exceptional achievement. Yulo has also been promised a fully furnished two-bedroom condominium unit in McKinley Hills from property developer Megaworld, valued at P24 million. The Philippine Olympic Committee will also be giving the 24-year-old Olympian a house and lot.
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