Thailand Premier League Money Managers Quit Amid Corruption Rumours

[webfact]

TPL money managers quit amid corruption rumours

The Nation

Newin

BANGKOK: -- Siamsport says it is relinquishing its right to oversee Thailand Premier League's commercial benefits in the wake of allegations over irregularities in the financial management of the country's topflight league.

It said the decision was effective immediately.The issue of irregularities came to light when Buriram United president Newin Chidchob raised questions over the league's financial management.

The authorities failed to come up with a clear answer, heightening public suspicion of financial irregularities.

That prompted Siamsport to come out fighting last week, explaining that they were appointed by the Football Association of Thailand to oversee the league's finances and insisting there was nothing untoward in their management.

The company, the country's biggest sports media firm, issued a statement yesterday:

"Following suspicion over the management of commercial benefits in the Thailand Premier League, Siamsport, as the body appointed by the FAT to oversee the matter, sought to clarify the matter but failed to stop people from questioning the issue. We subsequently decided to end our role with immediate effect.

"To prove that we are innocent of seeking any benefit in managing the league's finances, we are ready to disclose financial statements and clear up any doubt on April 20. We will be available to answer any questions and give more details about the issue on the day," the statement read.

Football Association of Thailand (FAT) president Worawi Makudi, widely known for his close relationship with Siamsport owners, admitted he was dismayed with the company's decision to withdraw.

"It's disappointing because we must accept that Siamsport has played a key role in the rapid growth of Thai football. They always provided strong assistance in the association's work.

"Siamsport's withdrawal probably means a major change. Let's see how much impact it will have on Thai football," said Worawi.

Ongart Kohsinkha, the FAT general secretary, said the organisation would consider an auction to find a replacement for Siamsport.

"The withdrawal of Siamsport will not affect the association. The right to oversee the financial benefits will return to us. We are considering whether to conduct an auction to find someone to take over from Siamsport, or whether to take care of the matter ourselves," said Ongart.

-- The Nation 2012-04-12

[Buchholz]

Football Association of Thailand (FAT) president Worawi Makudi, widely known for his close relationship with Siamsport owners, admitted he was dismayed with the company's decision to withdraw.

other suspect financial shenanigans involving Worawi

September 14, 2011

A Fifa executive committee member from Thailand has been asked by the world governing body to answer claims that development grants were spent building facilities on land that he owned.

Fifa says the case will be passed to its ethics committee if there is any evidence that Worawi Makudi has breached the code of ethics.

There have been allegations in Thailand that the country's national football training centre was built with money from Fifa's Goal programme on a plot of land owned by Makudi, and that he owns other plots of land around the centre. Makudi has previously told Thai media he had signed over the land to the Thai FA.

http://www.guardian....wi-makudi-grant

and

May 11, 2011

Its just another blow to the FIFA the world governing body of football. The Forrmer British FA Chairman Lord Triesman has accused four members of FIFA of demanding bribes to support England's bid to host the 2018 world cup.

One of them is Worawi Makudi Thailand's FIFA representative who said Lord Triesman wanted TV rights for a friendly match between Thailand and England, a match which has since been cancelled indefinitely.

Worawi Makudi is also the big name behind Siam Sports Syndicate, which produces numerous newspapers, available in all 7/11s in Thailand and elsewhere, and also TV spots channels. The syndicate also does a lot of hosting of teams visiting Thailand

http://www.andrew-dr...her.php?sid=396

Edited April 12, 2012 by Buchholz

[Thai at Heart]

All for the love of the game I presume.

[ralphlsasser]

TIT. Is this news? Corruption is rampant here.

[Buchholz]

TIT. Is this news? Corruption is rampant here.

Particularly when it involves the likes of banned Thai Rak Thai Party MP Suwat who is the Adviser to the Football Association of Thailand or Bang Saen mafioso family member Wittaya Khunpleume who is its Vice-President.

.

Edited April 12, 2012 by Buchholz

[CockneyGit]

Not a suprise!

[Thaddeus]

I'm shocked.

[khunron13]

That's a little bit of the pot calling the kettle black!

[drdoom6996]

everybodies corrupt, why quit. Don't forget the money

[xthAi76s]

TIT. Is this news? Corruption is rampant here.

Not only is it rampant; it's the standard of doing business here.