Olympic silver medalist Onyok Velasco reveals he is yet to receive P2.5M from the government | The Summit Express

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Olympic silver medalist Onyok Velasco reveals he is yet to receive P2.5M from the government


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MANILA, Philippines - Two decades ago, Mansueto “Onyok” Velasco, Jr. became a household name after taking home a silver medal in the boxing event at the Atlanta Summer Olympics in the United States in 1996. Following Hidilyn Diaz’ historic win in the 2016 Rio Olympics on Monday, August 8, Velasco revealed that he is yet to receive the P2.5 million incentive from the government.

Onyok Velasco reveals he is yet to receive P2.5M from the government

In his recent radio interview, the retired boxer and comedian said many athletes are discouraged from doing their best since some contracts involving incentives do not materialize.

“Kasi yung iba po, kontrata yan eh, di natutupad, kaya yung iba nadismaya din magpursige,” Velasco said.

The 1989 Republic Act No. 9064 states that national athletes, trainers and coaches will receive cash incentives and monetary benefits. A Filipino Olympic gold medalist will be given P5 million, while a silver and a bronze medalists will receive P2.5 million and P1 million, respectively.

The law, which has been amended in 2015, now states that Olympic gold medalist will granted an incentive of P10 million. On the other hand, P5 million and P2 million will be awarded to silver and bronze medalists, respectively.

A report by Philippine Star in 2014 indicated that Velasco received a one-time cash incentive of P750,000 on top of a P7,000 lifetime monthly pension.

Diaz to receive P5M

Diaz, who made history after bagging a silver medal at the women’s 53-kg category in weightlifting, is set to receive P 5million in cash incentive tax free.

“Being first of many triumphs in Philippine sports history, Diaz’s silver medal is truly momentous. She is also the first Olympic medalist to benefit from the National Athletes and Coaches Benefits and Incentives law or Republic Act 10699 which we authored and sponsored last year. Under the new law, she will be receiving P5 million in cash incentive tax-free. Kung nanalo siya noong 2012, P2.5 million lang ang matatanggap niya,” said Senator Juan Edgardo “Sonny” Angara.

Aside from cash benefits, Diaz, the first Pinay to receive an Olympic medal and the first non-boxer since 1996, will also be receiving scholarship and retirement benefits.

Watch Onyok Velasco’s historic boxing fight in the 1996 Atlanta Summer Olympics.


--Mini, The Summit Express

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