Thai PM under fire over Liverpool bid

Thailand has only a “50-50” chance of buying a key stake in Liverpool soccer club, Thailand’s billionaire prime minister said today as he braved a barrage of criticism over the unconventional deal at home and in England.

As doubts escalated over the viability of the bid, Thaksin Shinawatra said he had his eye on other British clubs.

The deal has come under scrutiny in Thailand following revelations that Thaksin was considering using public money to buy the stake, with critics saying the move seemed more linked to Thaksin’s desire to own a team rather than any clear benefits for the Thai public.

Thaksin agreed to a £65m (€96m) deal to purchase a one-third stake in the team after talks on Monday with a Liverpool delegation, including chief executive Rick Parry, who had flown to Bangkok.

But Liverpool’s third largest shareholder, property developer Steve Morgan, said he would fight the bid. Morgan had a £50m (€74m) offer turned down by the Liverpool board earlier this year, and now promises to increase it to £73m (€108m).

“In my view, the future of Liverpool Football Club is best served by the people who love the club the most, its supporters, of whom I am proud to be one,” said Morgan,

Many fans have voiced fierce objections to foreigners owning an English team.

“The chance is 50-50 after Morgan’s bid,” Thaksin said. “But never mind if we cannot get Liverpool. We will buy other teams because we have several other teams in mind.”

“We stand by our proposal. We will not increase our bid,” he said. “If they do not sell to us, never mind.”

Government spokesman Jakrapob Penkair said that public money may be used to fund the purchase. Deputy Commerce Minister Pongsak Raktapongpaisarn, who participated in the negotiations with the Liverpool delegation, confirmed that the government initially planned to raise funds for the purchase from a mix of state and private funding.

“But I can’t say now precisely where it will come from,” Pongsak said today.

Jakrapob told reporters that “this deal started off as a personal interest of the prime minister … but over time evolved into the idea that it might be good for the state” and that the purchase would be on behalf of the Thai people.

Critics and opposition figures have lashed out at the proposed use of taxpayers’ money for the transaction spearheaded by Thaksin, a former police officer who made a fortune in telecommunications.

“It’s not been made clear exactly where the funds are coming from and what the objectives are,” said Abhisit Vejjajiva, deputy leader of the opposition Democrat party.

“The only justification I can see is if it would entitle us to enter into some kind of project or cooperation concerning the development of football or sports in Thailand.”

“As far as thinking about returns on money, investments, there doesn’t seem to be any justification for putting public money in a foreign football club,” he added.

The Thai-language Thai Post newspaper blasted the prime minister over the proposed purchase, saying in an editorial that “Thaksin used the government to make a deal with a football team to fulfil his own ambition” and calling the move “totally inappropriate”.

The deal would give Thaksin merchandising rights in Thailand and also includes establishing soccer academies in the country to promote Thai youngsters into the world arena.