As the Philippines contingent continued to harvest medals at the Southeast Asian Games in Vietnam, government-mandated incentives for such efforts are expected to balloon.
At the current rate, the amount could surpass P20 million easily.
Based on the recent tally of 20 gold, 25 silver and 36 bronze medals after Monday's events, the cash bonuses were pegged at P18 million.
Under Republic Act 10699 – or the National Athletes and Coaches Incentives and Benefits Act – the Philippine Sports Commission must award P300,000 to gold winners, P150,000 for silver and P60,000 for bronze.
“I congratulate our athletes for a job well done. We’ll be expecting more medals to be won by Team Philippines in the coming days,” said PSC Chairman William Ramirez.
Besides the money coming via the PSC, it is expected that President Rodrigo Duterte would match the cash rewards.
“Knowing the President, it’s his style to give additional cash bonuses aside from the incentives provided for by the law once the athletes visit him in Malacañang,” Ramirez said.
Also based on the law, coaches of podium finishers will get 50 percent of the amount of cash bonuses their athletes received.
For team cash incentives, a team of four or fewer will receive the equivalent of the corresponding individual medal they had won while each member of a team with five members or more are entitled to 25 percent of the individual medal’s worth.
Medal winners who surpassed existing Philippine records, SEA Games standards or records in any measurable international competition can likewise receive cash incentives as determined by the PSC.
Funding for these cash bonuses from the government is taken from the net cash income of the Philippine Amusement and Gaming Corp. to be remitted to the National Sports Development Fund of the PSC.
This is over and above the regular income that is remitted to the PSC by PAGCOR.