President Ferdinand Marcos Jr. doubled the medalists’ financial incentives on Wednesday, October 25, following an Asian Games campaign highlighted by historic performances by the national athletes.
EJ Obiena, Meggie Ochoa, and Annie Ramirez, the three individual gold medalists for the Philippines at the continental competition, were each awarded a ₱4 million cash incentive.
After ending a 61-year gold medal drought in men’s basketball, Gilas Pilipinas was rewarded handsomely, with each player taking home a cool ₱1 million.
Under Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, gold medalists in the Asian Games will receive P2 million, and each member of a winning team will receive ₱500,000.
The head coach and the coaching staff are entitled to 50% of the incentive, which will be divided amongst themselves.
The Philippine Sports Commission, via the Philippine Amusement and Gaming Corporation, awarded the bonus, which was matched by the Office of the President, thus doubling the medalists’ monetary compensation.
During the “Gabi ng Parangal at Pasasalamat Para sa Bayaning Atletang Pilipino” held at the Rizal Memorial Coliseum in Manila on Wednesday, Marcos Jr. also presented presidential citations to the Filipino medalists (4 gold, 2 silver, and 12 bronze) as well as their coaches.
With the exception of naturalized players Justin Brownlee and Ange Kouame, all Gilas players attended the event.
Team manager and SMC sports director Alfrancis Chua, deputy team manager Willie Marcial, PBA board chairman Ricky Vargas, and Samahang Basketbol ng Pilipinas (SBP) president Al S. Panlilio were also present. Head coach Tim Cone was unable to attend the gathering.
Manny V. Pangilinan, former chairman of the SBP, also came to honor the national team and the rest of the Asiad medalists who were also supported by PLDT and Smart.
Prior to attending the event, the PBA hosted lunch for the members of the national team.