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POC chief Ricky Vargas gets San Miguel, private-sector pledges to help PH sports

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Dennis Gasgonia, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/tvpatrol/02/18/ricky-vargas.jpg"/><figcaption>New Philippine Olympic Committee president Ricky Vargas says he has received a pledge from San Miguel Corp. to help in sports-development plans. <em>Dennis Gasgonia, ABS-CBN News</em></figcaption></figure></div><div><strong>Vargas open to writing off debts as part of ‘healing process’</strong></div><p>More help is coming the Filipino athletes&#x27; way, said newly elected Philippine Olympic Committee (POC) president Ricky Vargas, after 3 corporations pledged to pool their resources for local sports.</p><p>Vargas unseated longtime POC chief Jose “Peping” Cojuangco in a court-ordered election in Mandaluyong city on Friday.</p><p>“MVP (Manny V. Pangilinan), as seed money, gave P20 million to the POC . . . There&#x27;s another gentleman, Cecilio Pedro of Hanabishi and Lamoiyan (also pledged support) . . . and then the sports head of San Miguel, Alfrancis Chua, he&#x27;s ready to support sports,” Vargas said in an interview on DZMM’s &quot;Fastbreak&quot; program on Saturday.</p><p>“It&#x27;s the beginning of private-sector help for the athletes. Dumadating na.”</p><p>He added that the national sports associations (NSAs) will have to be clear with their plans and programs or their respective athletes in order to get such support.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/07eoRIStPGw" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/sports/02/23/18/ricky-vargas-elected-new-ph-olympic-committee-president">READ: Ricky Vargas elected new PH Olympic Committee president</a></li></ul><p>“Kailangan may plano ang mga NSA, there&#x27;s a clear path to what they&#x27;re doing, kung walang plano hindi maniniwala ang private sector. The NSAs should have a clear path of training, development of athletes and proper governance. Kung hindi, hindi magbibigay &#x27;yan,” said Vargas, who also serves as the head of the Association of Boxing Alliances in the Philippines.</p><p>Vargas also said the new POC leadership will also deal with the issue of unliquidated funds provided by the Philippine Sports Commission to the NSAs. </p><p>“We&#x27;re thinking of putting up an NSA-type of committee that will look specifically on the issues of finance, liquidation, integrity. It’s almost like an ethics committee,” he said.</p><p>Vargas added they won’t hesitate to write off debts if necessary just to cool off hostilities within the POC.</p><p>“Sa corporate world ang tawag namin diyan is you have to make a decision to write it off and start anew,” he said.</p><p>“That in itself is the healing process. But you have to understand what you wrote off and you have to understand who is responsible for that write off.”</p><div><strong>For more sports coverage, visit the <a href="http://sports.abs-cbn.com">ABS-CBN Sports website</a>.</strong></div>

<p>But the newly elected POC president says local sports bodies need to present a "clear" plan of action before availing of financial assistance.</p>

But the newly elected POC president says local sports bodies need to present a "clear" plan of action before availing of financial assistance.

POC chief Ricky Vargas gets San Miguel, private-sector pledges to help PH sports

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POC chief Ricky Vargas gets San Miguel, private-sector pledges to help PH sports

Dennis Gasgonia,

ABS-CBN News

Published Feb 24, 2018 08:02 PM PHT

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Updated Nov 27, 2019 03:29 PM PHT

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Ricky Vargas

Philippine Olympic Committee

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