Madam Pang contributes 20 billion VND to help the Football Association of Thailand escape crisis

President Madam Pang spent nearly 20 billion VND of her own money to help FAT - Photo: AFP

To cope with the risk of having her assets confiscated, Ms. Nualphan Lamsam (commonly known as Madam Pang) donated a personal amount of 25 million baht (equivalent to 20 billion VND) to FAT.

According to Thai media, the money was used as a deposit to be transferred to Siam Sport Company. This was to prevent the Enforcement Department from carrying out enforcement proceedings, including confiscating or freezing FAT's assets.

According to published information, FAT is planning to hold an important negotiation with representatives of Siam Sport Company on May 11 to find a solution for the remaining debt.

In addition, Madam Pang and FAT are also stepping up fundraising activities, such as selling jerseys and organizing drama performances, with the expectation of raising an additional 30 million baht (equivalent to 23.2 billion VND). This is to have enough resources to completely pay off the debt to Siam Sport.

Madam Pang is facing many difficulties when leading FAT - Photo: THAI PBS

The cause of FAT's financial crisis stems from a long-running lawsuit. On March 6, 2025, FAT was forced to compensate Siam Sport with up to 360 million baht (equivalent to about 273 billion VND).

This compensation shall be accompanied by interest calculated from the date the lawsuit is initiated until FAT completes its payment obligation.

Under such pressure, Thai media reported that Madam Pang and FAT only have 30 days to pay this huge amount of money to Siam Sport. Otherwise, they will face the risk of being forced to pay and confiscate their assets. The enforcement process is expected to take place if FAT cannot pay on time.

FAT’s financial woes were revealed by Madam Pang in an emotional press conference on March 11. At that time, she could not hold back her tears when sharing about the difficult financial situation she inherited when taking office as FAT president.

Accordingly, the cash and cash equivalents fund of FAT at that time was only 27 million baht, while the total debt was up to 132 million baht. This further highlighted the great burden and challenge that she has been trying to solve since taking the leadership of FAT.

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THANH DINH

Source: https://tuoitre.vn/madam-pang-gop-20-ti-dong-giup-ldbd-thai-lan-thoat-khung-hoang-20250423091621134.htm