Sportswear retailer Grand Sport has extended its sponsorship of the National Olympic Committee of Thailand (NOCT) for another four years.
The deal is worth 140 million baht (£2.5 million), with Grand Sport paying the NOCT one million baht in cash annually and the rest in sportswear.
There will be 15 international sports events during the new contract and all Thai athletes are obliged to wear Grand Sport products during those tournaments under the terms of the deal.
The Bangkok Post also reported that Grand Sport’s rival retailer FBT will replace Nike as sponsor of the Amateur Boxing Association of Thailand on a one-year deal after Nike’s deal expired last month.
Amateur Boxing Association president Taweep Jantararoj said that Nike ended its support due to the economic downturn. The deal is worth two million baht, double what Nike paid under the previous agreement.
