Philippine Olympic Committee (POC) president Abraham Tolentino has been persistently thinking of ways for Filipino athletes to excel in their respective sports.
And a possible driving force, the Cavite representative thought, would be to put up an incentive plan for medalists in international multisports tournaments.
For the first time in the history of the local Olympic body, Tolentino said they have established an Athletes Incentives Trust Fund (AITF), which was unanimously approved during Thursday’s POC executive board meeting.
“It will give our athletes something to look forward to when they compete in international multisport events,’’ Tolentino told the Inquirer.
The AITF, however, will be confined to funding medal winners in the Olympics, Asian Games and the Southeast Asian Games, according to the PhilCycling chief.
“We will raise funds through the help of the private sector. We will be transparent with our sponsors, they will know that any financial aid will be intended purely for the trust fund,’’ Tolentino said.
The POC shelled out cash bonuses to the 149 gold medalists in the 30th Southeast Asian Games that the Philippines hosted and had likewise provided incentives to the 117 silver and 121 bronze medal performers.
It was a separate effort from the cash incentives of the government through the Philippine Sports Commission and Pagcor as provided for by the law where gold-medal winners earned P300,000 while a silver and bronze are worth P150,000 and P60,000, respectively.
Aside from the financial benefits courtesy of the PSC and POC, President Duterte also gave out incentives to the medalists.
“We will determine the amount of the cash incentives depending on how much the POC can raise,’’ said Tolentino.
Date: February 14, 2020 | By: June Navarro | Newspaper: Inquirer | Source: https://sports.inquirer.net/385770/poc-to-raise-funds-for-olympics-asian-games-sea-games-medalists