Flyweight Tanes Ongjunta lost in the quarter-finals of the Olympic qualifying event in Baku yesterday and was left with only a semblance of hope to qualify for the 2016 Rio Games.
Just one win away from securing his place in the Olympics, the 23-year-old Tanes, who was the only Thai to reach the last eight stage at the Baku event, went down to Enkh-Amar Kharkhuu of Mongolia 28-29, 28-29, 28-29 in the 52kg division.
Throughout the fight, Tanes could not match the Mongolian, who had a longer reach and was more accurate in landing his punches.
Tanes' defeat left the team with only a flicker of a chance of avoiding a total failure. With top-five finishers earning tickets to the Rio Games, Tanes can still qualify for the Olympic Games if his conqueror Kharkhuu goes on to win the gold medal on Sunday.
In the semi-finals today, the Mongolian faces Antonio Vargas of the USA.
Prior to the competition, the Thailand Boxing Association was hoping to get at least one more Olympic seat and had sent four fighters to the last qualifying event for the Games.
Four Thais boxers who have already qualified for the Rio Games are Chatchai Butdee (56kg), Wuttichai Masuk (64kg), Sailom Ardee (69kg) and Peamwilai Laopeam (women's 51kg).
In another development, the Sports Authority of Thailand is considering a 50 percent increase in the cash incentives that are offered to the Olympic and Paralympic Games medallists, starting this year.
According to the plan, an Olympic Games gold medallist will receive 15 million baht -- a five-million-baht increase on the current rate -- and a Paralympic Games the gold medallist, who earlier earned four million baht, will get six million baht.
The coaches and associations will be entitled to 20 and 30 percent of the amounts earned by their athletes, respectively.
"The proposal is likely to be approved by July before the Games starts in Rio de Janeiro," SAT governor Sakol Wannapong said.
"A similar 50 percent increase will be applied to other international tournaments likes Asian and SEA Games as well.
"As for the World Cup or the World Championships, we will consider these on case by case basis."