Thailand's tycoon prime minister said yesterday that he is in the final stages of negotiations to buy a stake in English Premier League soccer team Liverpool, and a deal could be finalized in less than five days.
Prime Minister Thaksin Shinawatra said that a group of Liverpool representatives will meet with him later yesterday to wrap up the final discussion on his bid to buy a 30 percent stake in the club.
After the talks, the Liverpool officials will go back to England to meet with the club's board and present the outcome of their negotiations.
"If the board is happy with the result of talks then we can make a joint announcement later this week, may be on Friday," Thaksin said.
He said the 30 percent stake will cost more than 4 billion baht (US$100 million), which he will raise by inviting Thai businessmen to join the investment.
"It is a good business prospect since the team is in top five of the English league," he said.
The deal also includes establishing soccer academies in Thailand to promote Thai youngsters into the world arena through both sport and academic teaching, he said.
Thaksin turned to Liverpool in February after failing in a bid to purchase Fulham, owned by his good friend, Harrods store owner Mohammed al Fayed.
European soccer is wildly popular in Thailand, mainly because of lucrative but illegal betting on English Premier League games.
Thaksin, estimated two years ago by Forbes magazine to be worth US$1 billion, made his fortune in the telecommunications business before joining politics.
His family's Shin Corp is Thailand's largest telecoms group with businesses ranging from satellites to cellular phones.
Several Thai newspapers have reported that Thaksin's prospective partners in the Liverpool venture include local beer baron Charoen Sirivadhanabhakdi, whose Thai Beverages has a dominant position in the local market with its Chang Beer and Mekhong whisky.
Liverpool chairman David Moores owns a 51 percent stake in the club followed by television company Granada with 9.9 percent and property developer Steve Morgan at 5 percent. Morgan had tried to raise his stake but was rebuffed by the club's board in March.
If the deal goes through, Thaksin's collective will hold the second-biggest stake in the club, which could bring lucrative rewards.
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