First Filipino Olympic gold winner to get $200,000

July 25th, 2008 - 1:53 pm ICT by IANS  

Manila, July 25 (Xinhua) The bonus for the first Filipino Olympic gold medallist has reached 9.5 million pesos ($214,000) after a new reward pledge came to light Friday. Sports apparel company No Fear, through former Wushu Federation Philippines president Jimmy Ong, has made an additional 1-million-peso ($22,600) pledge as reward to the first Filipino athlete who will win the country’s breakthrough gold medal at the Beijing Games starting Aug 8, Philippine TV network GMA News reported.

No Fear became the fourth private firm to pledge a financial reward, raising the total amount of money pledged to 9.5 million pesos, for the first athlete who can end the country’s 80-year gold-medal hunt in the quadrennial Games.

“Our athletes are well prepared for the Beijing Games and we hope that the incentive will push them beyond their limits,” said Philippine Olympic Committee spokesman Joey Romasanta.

Private firms who have pledged rewards before including Microsoft Philippines, Chevron and Filipino-Chinese business tycoon Lucio Tan. All three have promised to give 1 million pesos.

Filipino boxing icon Manny Pacquiao has also pledged 1 million pesos. An additional 500,000-peso reward will come from the Philippine Sportswriters Association.

The government will give 5 million pesos for every Olympic gold winner.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in World |