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Cash rewards, condo also await Olympic silver medal winner Petecio

Second-placed Philippines' Nesthy Petecio celebrates after the women's feather (54-57kg) boxing final bout against Japan's Sena Irie during the Tokyo 2020 Olympic Games at the Kokugikan Arena in Tokyo on August 3, 2021. (Photo by Luis ROBAYO / POOL / AFP)


A financial windfall awaits Nesthy Petecio even if she fell short in her bid to win the country’s first-ever gold in boxing.

At this point, Petecio stands to receive a combined cash incentive of P17 million from the government and those from the private sector plus a condominium worth P10 million from a real estate company.

Petecio is already sure of getting P5 million from the government under the Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act for claiming a silver in the Olympics.

She will also get P5 million each from the MVP Sports Foundation and San Miguel Corporation, which earlier pledged to match the same amounts indicated in the incentives act.

Deputy House Speaker Mikee Romero had earlier committed to hand over P2 million to Olympic silver medalists.

Romero also pledged to give P3 million to gold medal winners and P1 million for bronze.

Boxers Eumir Marcial and Carlo Paalam are set to receive monetary rewards based on the incentives act and the pledges of the two companies depending on the outcome of their campaigns.

Megaworld, meanwhile, said it will give Petecio a condo located inside the 11.2-hectare Davao Park District in Lanang, Davao City.

The company owned by billionaire Andrew Tan had earlier gifted Diaz a P14 million condo after becoming the country’s first-ever gold medalist.

Phoenix Petroleum, through Siklab Atleta Pilipinas Foundation, has also pledged a P3 million cash incentive to Petecio.

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Written by Tempo Desk

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