Asset management firm helps Thai boxers enjoy life after the ring

The collaboration is part of XSpring's “Play to Win” campaign with ONE Championship, the world's largest martial arts organisation, and Lumpinee Boxing Stadium.

The move was inspired by the pain-point that almost all Thai boxers face after retirement, XSpring Capital president Varangkana Artkarasatapon said on Tuesday. 

She explained that while many Thai professional boxers, particularly those who have won championships, earn vast amounts of money, that wealth doesn’t last for long. 

The main reason is that those boxers lack financial management knowledge, which prevents them from developing a proper strategic plan to sustain their wealth. 

In addition, a professional boxer has a limited working life. They retire years before those in other occupations and they should therefore be able to manage their wealth in such a way as to maintain a high standard of living on their retirement.

“XSpring wishes to assist them in living a comfortable life commensurate with the sweat and strength they have displayed in the ring.” she noted.

That thought prompted XSpring to form a partnership with ONE Championship and Lumpinee Boxing Stadium. 

Varangkana said that XSpring will provide a foundation of financial literacy courses for boxers, both professional and apprentices, as well as for those in related jobs in the industry such as judges and promoters.

Meanwhile, the company will provide financial advisory services in order to develop a proper financial management plan that fits the boxer's needs, dreams, and lifestyles. 

Major General Surin Preeyanupab, deputy director of the Royal Thai Army Sports Centre, which run Lumpinee Stadium, notes that athletes, particularly boxers, are not usually able to 
keep the money or make the assets they earned during their careers grow and last until retirement once they stopped playing sports, he explained. 

"We are committed to raising the standard of boxing in Thailand and create financial stability for athletes which will definitely support the sustainable growth of the Muay Thai industry both in terms of business and the development of personnel in the industry to move forward," he said. 

Furthermore, he added that collaborating with XSpring offers the possibility of improving the quality of life for people in the boxing industry. It also demonstrates that financial stability is not out of reach for anyone in the boxing industry.

Lumpinee Stadium offers a variety of Thai Boxing courses for those interested in becoming professional boxers, trainers, and judges. A few hours of basic financial literacy will be added to those courses by XSpring. Those who want to develop their own financial plan can later contact XSpring directly.

Recognising that high pay and bonuses may not be enough to motivate someone to become a boxer, ONE Championship Thailand president Jitinat Asdamongkol said that knowledge and thinking skills to further use and manage money efficiently are required to ensure a sustainable quality of life. 

“The ability to manage money wisely is very important to athletes of all sports because they are in professions with a shorter working life than other careers. Play to Win is one of the projects that fits our mission. The goal of ONE Championship is not only to be a leading global sports platform, but also to improve the quality of life for athletes and everyone involved, which will ultimately benefit the image of our organisation," he said.

Tinnakorn Srisawat, or Rodtang Jitmuangnon, the renowned flyweight world champion, expressed his enthusiasm for the campaign, explaining that speaking with a financial professional made him realise that there are numerous ways to save and invest that will help him maintain a healthy level of money and liquidity.

"In fact, many boxers are interested in investing to supplement their current income. However, some people are unsure of where to begin in determining what type of investment is appropriate. This project, if compared to boxing, is like training boxers to overcome their weaknesses in order to become strong and not lose in every financial battle," Rodtang said.

Another well-known Thai boxer, Manuschai Aimsire or Superlek, added that since becoming a boxing athlete at a young age, he has witnessed many money management issues among his professional colleagues and has always been aware of the problem. 

"Financial difficulties became a problem in my mind to overcome in order to avoid repeating the same mistakes made by many of my professional colleagues in the past," he said, adding that the campaign will make a significant change to the boxers' lives because they will have knowledge and understanding of how to plan savings, invest, and use money. 

"Even though financial management is a distant concern, I am confident on behalf of the boxers that the athletes are ready to learn new skills," he noted. 

Varangkana said XSpring Capital intends to expand the campaign to include other types of sports later such as football so that Thai athletes can win in both the sports and life arenas. 

"XSpring Capital would like to be their financial companion so they can use their strength and efforts to continue doing what they do best," she said. 

XSpring Capital is a Thai and international investment and securities company. The firm offers securities brokerage, securities and derivatives trading, investment advisory, securities underwriting, financial advisory, derivatives agency, online securities trading, and other related assets and wealth management. It is also involved in the foreign exchange, real estate, and digital asset industries.