TAT to put up B60m for F1 boat race
PHUKET: The Tourism Authority of Thailand (TAT) is set to double its sponsorship of next year’s F1 powerboat Grand Prix, to 60 million baht.
Swin Chatsuwan, Managing Director of Paragon Events, which has won the contract to organize the race, said yesterday that the TAT had agreed to his company’s request to provide full sponsorship.
He added that the race – the first event of its kind in Thailand – will be known as the “Phuket Grand Prix”.
A total of 12 Formula 1 powerboats are expected to take part in the Grand Prix, due to take place on March 13 at Phuket Deep Sea Port, Cape Panwa.
The TAT had previously agreed to provide 30 million baht in sponsorship, but TAT Vice-Governor Santichai Euajongprasit had said that the authority would be prepared to provide more if the event’s organizers could prove how much the race would benefit Thailand.
The TAT sponsorship proposal will be put before Deputy Prime Minister Suwat Liptapanlop for approval when he visits Phuket on Sunday.
K. Swin is optimistic that the Deputy PM will approve the sponsorship. “The Phuket Grand Prix will be in the competition calendar for at least four years, said K. Swin.
