Carlos Yulo’s coach, Allen Aldrin Castañeda, will receive P10 million as part of the rewards following Yulo’s double gold victory at the 2024 Paris Olympics.
The Philippine Amusement and Gaming Corporation (PAGCOR) announced this significant incentive, highlighting the equal distribution of rewards between athletes and their coaches. PAGCOR Chair Alejandro Tengco stated that Yulo’s total incentive of P20 million, earned from winning two gold medals, will be shared with his coach and trainer, reflecting a broader commitment to support the entire athletic team.
“We ensure that the dedication of coaches and trainers is recognized alongside the athletes,” Tengco emphasized. The incentives are tax-free, allowing the recipients to receive the full amount.
This initiative follows Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, which mandates financial rewards for Filipino Olympic medalists and their coaches. Gold medalists receive P10 million, silver medalists P5 million, and bronze medalists P2 million, with corresponding shares allocated to their coaches.
The distribution of incentives underscores the collaborative effort behind Olympic victories. Castañeda’s significant reward mirrors his crucial role in guiding Yulo to his historic achievements in the men’s floor exercise and vault finals.
The House of Representatives has also acknowledged Yulo’s and his team’s contributions by promising an additional P6 million and a congressional medal to the athlete.