Vietnam SEA Games medalists to receive cash incentives; PSC expected to release at least P18M

Cash incentives await the Filipino athletes who have and will deliver medals in the 31st Southeast Asian Games being hosted by Vietnam.

According to the Philippine Sports Commission (PSC), the government agency is expected to shell out at least P18 million in cash bonuses as stated by the law under Republic Act 10699.

Also known as the National Athletes and Coaches Incentives and Benefits Act, the law rewards a Filipino athlete P300,000 for every individual gold medal won while the value of a silver and bronze are P150,000 and P60,000, respectively.

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 less 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.

“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 in a statement.

As of Monday afternoon, the Philippines currently has 20 gold medals, 27 silver, and 38 bronze, good for third spot behind host Vietnam and Thailand who rank first and second, respectively.

—JMB, GMA News