ONE Championship CEO Chatri Sityodtong has expressed disappointment after Thailand’s cabinet approved a $1.2 billion bid to host Formula One races in Bangkok, questioning why his martial arts organization doesn’t receive similar government backing despite what he claims are substantial contributions to the Thai economy.
The Thai government announced Tuesday that it has greenlit the massive investment to bring Formula One street racing to the capital from 2028 to 2032. Tourism Minister Sorawong Thienthong confirmed the bid is worth approximately $1.23 billion, with officials touting the economic benefits for Thailand’s crucial tourism sector.
However, Sityodtong’s reaction was notably sour. “Honestly, when I look back at how much we’ve invested in Thailand, I feel a bit sad,” he said. “There are 70 million Thais, and they love our fighters. But why doesn’t the Thai government support ONE, while other governments are offering their support?”
The ONE Championship founder, who identifies as Thai, argued that his organization deserves recognition for its achievements. “I’m Thai. I built ONE into the number one martial arts organization in the world. We’re helping the country—giving Thai people inspiration to overcome hardships and poverty and achieve success. ONE is even bigger than Formula 1.”
According to ONE Championship’s claims, the organization generates $49.2 million for the Thai economy annually and boasts a larger global audience than both Formula One and the NBA. The company also states it successfully broadcasts to 190 countries and expects to achieve profitability by the end of 2024.
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The Formula One announcement comes after Thai Prime Minister Paetongtarn Shinawatra met with Formula One chief Stefano Domenicali in March to discuss the feasibility of hosting a Grand Prix on Bangkok’s streets. The proposed street circuit would add to Formula One’s already packed 24-race calendar, which currently includes four events in the Asia-Pacific region.
Thailand already possesses an FIA-accredited track in Buriram that hosts MotoGP motorcycle racing, but the government has chosen to pursue a more ambitious street racing concept in the capital.
Social media commentary following Sityodtong’s statements revealed skepticism about ONE Championship’s financial requests. Some observers suggested the organization might be seeking government funding in the billions, while others questioned the sustainability of ONE’s business model, noting that many events are broadcast free to viewers globally.
Critics also pointed out that ONE Championship’s audience numbers at venues like Lumpinee Stadium may be inflated by complimentary ticket distribution, raising questions about the organization’s actual commercial viability.
The contrast between Thailand’s willingness to invest heavily in Formula One while ONE Championship seeks government support highlights the different approaches to sports investment and international prestige projects. While Formula One brings guaranteed global television audiences and established revenue streams, ONE Championship’s claims of economic impact and audience reach face ongoing scrutiny from industry observers.
For Thailand, the Formula One investment represents a significant bet on sports tourism and international visibility, joining Singapore as Southeast Asia’s second Formula One host nation. The success of this venture may ultimately determine whether the government’s priorities align with Sityodtong’s vision for martial arts support.
