BACOLOD – Amateur Boxing Association of the Philippines chairman Manny V. Pangilinan and president Ricky Vargas Thursday urged young hopefuls to forego any plans of turning professional and instead be part of the RP national pool until the 2012 London Olympics.
Pangilinan announced that PLDT and Smart will be giving a cash incentive of P12-million to any boxer who can win the Olympic gold, P3 million for silver and P1 million for the bronze medalist.
He said the cash reward is from PLDT and Smart alone and does not include the usual incentives offered by the government.
Under RA 9064, or the Sports Benefits and Incentives Act, an Olympic gold medalist is set to receive P5 million, a silver medalist P2.5 million, while a bronze medalist will earn P1 million.
?To all who are planning to turn professional, you have to at least think twice now. With these incentives, I?m sure it?s worth being just an amateur boxer and winning the gold in the Olympics,? Vargas said.
Apart from the Olympic cash incentives, Pangilinan, who is also chairman and chief executive officer of PLDT and Smart, also said they are also giving P2 million for the gold, P1 million for the silver and P500,000 for the bronze winners in the Asian Games. They will also give P300,000 for the gold, P200,000 for the silver and P100,000 for the bronze medalists in the Southeast Asian Games.
One million also awaits the Filipino gold medalist in the world championship and P500,000 for the silver as well as P250,000 for the bronze winner.
?All cash rewards will only come from PLDT and Smart. It does not include what the government usually gives,? said former ABAP head Manny Lopez. (FCC)
