MVP moves: Pangilinan showers P10M to Carlos Yulo, P2M to boxers

Longtime sports patron and business tycoon Manny V. Pangilinan awards P21 million total to Filipino Olympic medalists, headed by double-gold gymnastics icon Carlos Yulo, and their coaches for their Paris Games exploits

MANILA, Philippines – Top business magnate Manny V. Pangilinan once again pulled out all the stops following the Philippines’ prolific 2024 Paris Olympics campaign.

In line with his consistent support to Philippine sports, the 78-year-old patron gave a cash reward of P10 million to double Olympic gold medalist Carlos Yulo and P2 million each to bronze-winning boxers Nesthy Petecio and Aira Villegas.

Yulo’s coaching staff also netted P5 million total from Pangilinan, while the boxers’ mentors cashed in P2 million collectively.

“Like always, they can count on our continued support until [the] LA 2028 [Olympics],” the tycoon posted on social media. “Mabuhay ang atletang Pinoy!” (Long live Filipino athletes!)

Carlos Yulo reaps the rewards of his historic Paris Games run as the gymnastics ace becomes the Philippines’ first double Olympic gold medalist

Unlike numerous private entities, politicians, and brands that only jump on the Olympian rewarding bandwagon the moment athletes produce medals, Pangilinan has been a staunch ally of a wide array of sports, including gymnastics.

In 2022, Yulo was among the athletes who benefited from the MVP Sports Foundation Gymnastics Training Center, a 2,300-square meter compound in Intramuros, Manila that serves as proving grounds for all kinds of gymnastic disciplines.

Pangilinan also funds the Gilas Pilipinas basketball program and maintains five professional sports teams, three in the Philippine Basketball Association (PBA) with TNT, Meralco, and NLEX, and two in the Premier Volleyball League (PVL) with PLDT and Cignal.

Not even including Pangilinan’s latest gift, Yulo has amassed a post-Olympics haul valued at more than P100 million, more than P50 million coming from the Philippine government alone.

Still just 24 years old, Yulo has a near-decade of elite competition left in his career and is one of the top stars to watch in his 2028 Olympic title defenses in Los Angeles.