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P7M awaits first Olympic gold winner
Written by Staff   
Saturday, 12 July 2008 12:29

MANILA, Philippines—The Olympic pot has been sweetened by another P1 million.

Tobacco tycoon Lucio Tan has added that much to the reward kitty for the first Filipino who will win an Olympic gold medal, in the Beijing Summer Games next month.

Tan announced the reward at the signing of a memorandum of agreement Friday making his Philippine Airlines the official carrier of the 15-athlete Philippine delegation to China.

The pledge increased the gold-medal cash bonus to P7 million.

The main bulk of the lean Philippine team, including lone boxing bet Harry Tañamor and taekwondo jins Mary Antoinette Rivero and Tshomlee Go, will leave on a special flight on Aug. 5.

“Lucio Tan is certainly behind us in our endeavor,” said Philippine Olympic Committee president Jose Cojuangco. “Definitely, all our athletes will rally for the Olympic gold.”

Cojuangco said he expected more pledges before the opening of the Olympics on Aug. 8.

Software giant Microsoft earlier pledged P1 million to the kitty.

The government, through the Philippine Sports Commission, has set aside a P5-million reward for a gold winner under the Incentives Act, which also says a silver medalist will get P2.5 million and a bronze winner, P1 million.

Chevron also pledged three years’ supply of Caltex fuel and lubricants for the gold medalist and his or her coach. The silver winner and the coach will get two years’ supply, and the bronze medalist and the coach a year’s supply.

The last time a Filipino won an Olympic medal was in the 1996 Atlanta Games, when flyweight boxer Mansueto Velasco won silver. He received P1 million in cash on top of a new car plus a house and lot.
Last Updated on Saturday, 12 July 2008 13:45
 
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