Thai PM reaches deal to buy stake in Liverpool

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The Independent Football

Thaksin Shinawatra, Thailand's prime minister, has reached a deal to buy a stake in Liverpool, a government spokesman said today.

Thaksin made the announcement at a Cabinet meeting, government spokesman Jakrapob Penkair told reporters.

He said he cannot give any more details, pending a formal joint announcement by Thaksin and the Liverpool board. He did not say when the announcement would be made.

Thaksin met yesterday with a group of Liverpool representatives led by the club's chief executive Rick Parry at his office in the Government House for the last round of discussions on his bid to buy a 30 per cent stake in the club.

Thaksin told reporters after the meeting that the stake will cost more than four billion baht (£55m), which he will raise by inviting other Thai businessmen to join the investment.

The Thai stake will likely come from the 51 percent owned by Liverpool chairman David Moores. The second biggest stake of 9.9 percent is currently owned by television company Granada property developer Steve Morgan who has 5 per cent.

Morgan had tried to raise his stake but was rebuffed by the club's board in March.