Reds Thai up deal - report

Thailand Prime Minister Thaksin Shinawatra has reached a deal to buy a stake in Liverpool, according to government spokesman Jakrapob Penkair.

Thaksin is reported to have made the announcement at a Cabinet meeting.

He said he could not give any more details ahead of a formal joint announcement by Thaksin and the Liverpool board.

Thaksin met yesterday with a group of Liverpool representatives led by the club’s chief executive Rick Parry at his Government House office to discuss his bid to buy a 30% stake in the club.

Thaksin told reporters after the meeting that the stake would cost more than £60m (€89.5m), which he intended to raise by inviting other Thai businessmen to join the investment.

Liverpool have so far refused to comment on the Thai investment negotiations.

It is thought it would be possible for Liverpool to organise the deal without chairman David Moores having to sell any of his current 51% holding.

The new shares issued however would see him reduced from majority shareholder to major shareholder.

Littlewoods tycoon Moores has been under pressure from Liverpool’s third biggest shareholder Steve Morgan and fans disappointed with the side’s progress under Gerard Houllier.

Jersey-based property magnate Morgan is still considering whether to launch another bid to win a seat on the board. He had one bid rejected by the board earlier this season and is unlikely to back away from his battle with Moores.

There are currently around 35,000 shares on the market, an extra 15,000 would take the figure to 50,000, and Thaksin would then have his 30% holding.

Moores’ stake would drop to around 36%. But he could rely on Granada’s 9.9% and the current other board members’ 5% total to vote with him, which would still virtually ensure him control of the club. Thaksin would probably also acquire one or two seats on the board.