Thai Prime Minister Thaksin Shinawatra's dreams of acquiring a 30 percent stake in English club Liverpool lie in tatters, with analysts and observers decrying Thailand's latest schemes to revive the bid as farcical.
The goal of buying into the Premiership side was touted by the government first as a source of unifying national pride.
But in the end it has brought ridicule, a loss of face and raised eyebrows among foreign observers and investors over the administration's motives over the bid.
"The deal is not a good image for Thai people," media rights campaigner Supinya Klangnarong said of the continuing and shifting attempts to secure some form of a buy-in despite a loud chorus of opposition.
"I don't think the international community would admire us for what our government or businesses are trying to do," he said.
Supinya, who is currently being sued by Thaksin for alleging that a conglomerate he founded that is now run by his family has benefited under his tenure, said the premier at least distanced his administration from the deal when opposition reached fever pitch.
Had a deal gone through Thaksin may have broken barriers as the first Asian to have bought his way into the world's wealthiest football league.
England's Premiership enjoys massive popularity in Thailand, partly because its games are screened live here during prime viewing time.
In May, Thaksin, a billionaire-turned-politician and an avowed football fan, launched his campaign. The Thai press seized on the drama, and within days he found himself backpedaling over the bid in which at first he had been expected to use over 4 billion baht (US$100 million) of his own fortune.
From the start, two of three Thais thought a government-funded stake would be a waste of state money, according to a survey reported in The Nation newspaper. Then it got worse.
Thaksin variously announced plans to use taxpayer money, float shares on the Thai stock exchange, and eventually launch a massive US$250 million public lottery to raise the money.
But the Thai fantasy of pulling strings at the top of one of the world's most celebrated sports dynasties unravelled.
Last month he backed out altogether, handing over control of negotiations to Paiboon Damranongchaitham, chairman of Thailand's biggest entertainment company GMM Grammy.
Paiboon quickly sought the financial help of "millions" of Thais to contribute somehow to the purchase, but when vague proposals fell flat, the deal was reduced to passing the hat around Asian business leaders.
Young Chinese, many who fear age discrimination in their workplace after turning 35, are increasingly starting “one-person companies” that have artificial intelligence (AI) do most of the work. Smaller start-ups are already in vogue in Silicon Valley and elsewhere, with rapidly advancing AI tools seen as a welcome teammate even as they threaten layoffs at existing firms. More young people in China are subscribing to the model, as cities pledge millions of dollars in funding and rent subsidies for such ventures, in alignment with Beijing’s political goal of “technological self-reliance.” “The one-person company is a product of the AI era,” said Karen Dai
South Korea’s air force yesterday apologized for a 2021 midair collision involving two fighter jets, a day after auditors said the pilots were taking selfies and filming during the flight and held them responsible for the accident. “We sincerely apologize to the public for the concern caused by the accident that occurred in 2021,” an air force spokesman told a news conference, adding that one of the pilots involved had been suspended from flying duties, received severe disciplinary action and has since left the military. The apology followed a report released on Wednesday by the South Korean Board of Audit and Inspection,
About 240 Indians claiming descent from a Biblical tribe landed at Tel Aviv airport on Thursday as part of a government operation to relocate them to Israel. The newcomers passed under a balloon arch in blue and white, the colors of the Israeli flag, as dozens of well-wishers welcomed them with a traditional Jewish song. They were the first “bnei Menashe” (“sons of Manasseh”) to arrive in Israel since the government in November last year announced funding for the immigration of about 6,000 members of the community from the states of Manipur and Mizoram in northeast India. The community claims to descend from
‘TROUBLING’: The firing of Phelan, who was an adviser to a nonprofit that supported the defense of Taiwan, was another example of ‘dysfunction’ under Trump, a US senator said US Secretary of the Navy John Phelan has been fired, a US official and a person familiar with the matter said on Wednesday, in another wartime shakeup at the Pentagon coming just weeks after US Secretary of Defense Pete Hegseth ousted the Army’s top general. The Pentagon announced his departure in a brief statement, saying he was leaving the administration “effective immediately,” but it did not provide a reason or say whether it was his decision to go. The sources, who spoke on condition of anonymity, said Phelan was dismissed in part because he was moving too slowly to implement reforms to
RSS