News, Sports

How much financial support did Michael Christian Martinez get?

Cbanga360.Net - The Bicol Street Journal

Published         16 Feb , 2014      4:05 am          620 views.

2014_0216_michaelchristianmartinez

After the successful debut of Michael Christian Martinez in figure skating at the 2014 Sochi Olympics, Malacanang, thru assistant spokesperson Abigail Valte uttered this message: “Undeniably, his performance in Sochi will attract more people to donate to his cause and training.”

“It’s a long road to 2018 and we wish him the best of luck,” she added.

So how much aid did the skater really get?

It is the International Olympic Committee that provides $1000 a month for Martinez while on training from July to October of 2013, and an additional $500 monthly to pay for his coach.

The Philippine Olympic Committee (POC) could not come up with funds on its own, the organization compensates by processing Martinez’s papers, in order to get the money from the IOC.

Wikipedia: The POC is a private, non-governmental organization composed of and serve as the mother organization of all National Sports Associations (NSAs) in the Philippines. It is recognized by the International Olympic Committee (IOC) as having the sole authority for representation of the Philippines in the Olympic Games, the Asian Games, the Southeast Asian Games and other multi-event competitions.

The POC is financially independent and does not receive any subsidy from government, though its member NSAs receive some financial assistance from the Philippine Sports Commission. Instead, the POC supports its own activities with funds generated from sponsorships, licensing fees on the use of the Olympic marks, IOC subsidy and proceeds from special projects and donations.

In addition, the POC has provided Martinez with pocket money worth $50 a day for his stay in Sochi, through the Philippine Sports Commission. Meanwhile, his food and accommodations are all shouldered by the Olympics’ organizers in Russia.

The Philippine Sports Commission released $7,200 to the Philippine Skating Union for “coaching and professional fees”.

The Philippine Sports Commission (PSC) was created through Republic Act No. 6847 in 1990 to serve as the “sole policy-making and coordinating body of all amateur sports development programs and institutions in the Philippines”. Its primary function is “to provide the leadership, formulate the policies and set the priorities and directions of all national sports promotion and development, particularly giving emphasis on grassroots participation”

All other expenses, and much and much of it, came from private individuals, private sector, among others, Mr. Hans Sy of the SM Group of Companies, who is also the chairman of the Philippine Skating Union.

The Philippine Skating Union gave Martinez P1.5 million, courtesy of SM Prime, in addition to having solicited P500,000 from donors,

Martinez is also sponsored by Smart Telecommunications and supported by the MVP Foundation.

A $6000 check coming from the IOC is now at the Philippine Olympic Committee office awaiting Michael upon his return from Sochi, Russia.

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2 Responses

  1. so why still mortgage their house with so much aid given

  2. cbanga360 says:

    Will be posting a rejoinder on this which became an issue, for clarification.