Just after declaring debt-free, Madam Pang was reminded by Thai press of a shocking figure

Madam Pang stated that FAT is nearing full debt repayment, however, Thai media reveals the reality that only roughly a third of the total 360 million baht has been handled.

The President of the Football Association of Thailand (FAT) – Mrs. Nualphan Lamsam (Madam Pang) recently issued an announcement that stirred public opinion in the Land of the Golden Pagoda, stating that Thai football is about to be “debt-free”. However, right after this optimistic declaration, several domestic newspapers offered a different perspective, suggesting the reality is not that simple.

According to information from FAT, the association will completely settle the 120 million baht debt to Siam Sport by the end of March. This amount stems from a lawsuit related to the unilateral cancellation of the Thai League broadcasting rights contract during the tenure of former President Somyot Pumpanmuang. After a prolonged legal dispute, FAT lost the case and was ordered by the Supreme Court of Thailand to pay 120 million baht in compensation, equivalent to about 100 billion Vietnamese dong.

After a full year of financial maneuvering, Madam Pang has nearly paid off the aforementioned amount and set March 2nd to pay the final 15 million baht. This news immediately generated a positive effect, as fans believe a major burden on Thai football is about to be lifted.

However, Khaosod newspaper quickly issued a warning that FAT has only addressed part of its financial obligations. The newspaper wrote: "However, regarding the 240 million baht debt that Siam Sport owes to TrueVisions, the Football Association will have to pay it itself. Discussions have been held with TrueVisions management about installment payments, and there may also be options involving broadcasting rights and other benefits in exchange".

This means that, in addition to the 120 million baht being processed, FAT still faces a 240 million baht debt related to TrueVisions. In total, the debt amounts to 360 million baht (approximately 300 billion Vietnamese dong), not including accrued interest. By this calculation, the 120 million baht that Madam Pang is paying only represents about one-third of the total financial obligation.

Nevertheless, many newspapers like Thairath still expressed sympathy for the female president. Thairath commented: "This woman has been striving to steer the ship of Thai football forward, using clean funds, and navigating the stormy waves of debts that were not originally her fault". Reality shows that, Madam Pang may have completed an important part, but the journey for FAT to truly be “debt-free” still has many challenges ahead.