Bangkok: The Football Association of Thailand, under the leadership of President "Madam Pang" Nualphan Lamsam, has successfully negotiated a debt settlement plan amounting to 360 million baht with Siam Sport Syndicate Public Company Limited and Cineplex (True) Company Limited. This announcement follows a recent Executive Committee meeting. According to Thai News Agency, the Association has already settled a 120 million baht debt with Siam Sport Co., Ltd. and has now committed to assuming the remaining 240 million baht debt, which was originally owed by Siam Sport to True. This agreement involves a collaborative effort with Cineplex, a True Group company, led by Mr. Supachai Chearavanont, and Siam Sport Syndicate, headed by Mr. Ravi Lohthong. The aim is to prioritize the interests of Thai football. The debt issue originated in 2016 during the previous administration when the Association rescinded Siam Sport's rights to manage sponsorships and broadcasting rights. The ensuing legal battles spanned ten years, culminating in a Supreme Court ruling mandating the Association to pay 360 million baht plus interest to Siam Sport. Since taking office in 2024, "Madam Pang" and the current executive committee have been actively engaged in negotiations and debt reduction efforts. The Association has now settled the 120 million baht debt to Siam Sport, with the remaining 240 million baht to be addressed through a trilateral agreement. This agreement involves cash payments in installments and the granting of exclusive broadcasting rights for Thai national football matches to Cineplex Co., Ltd. over a four-year period (2026-2029). This arrangement will partially offset the debt, with the balance being paid in monthly installments. Ms. Nualphan Lamsam expressed confidence that this agreement will enhance the Association's stability by alleviating the risk of asset seizures and creditor actions, allowing the focus to return to the development and success of Thai national football teams. Despite significant financial challenge s, "Madam Pang" has been proactive in advancing the Association's goals. Notable achievements include securing a lucrative broadcasting contract for the Thai League, increasing club support across all three leagues, and ensuring comprehensive broadcast coverage for both men's and women's football leagues. Additionally, she has secured exclusive broadcasting rights for the Thai national team, available on Thairath TV and Cineplex's platforms within the True Group. Mr. Narintphong Jinaphakdi, Siam Sport's authorized lawyer, commended Ms. Nualphan's commitment to the Association, highlighting her resolve in the face of overwhelming debt and interest obligations.
