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Last Updated: Friday, 14 May, 2004, 08:51 GMT 09:51 UK
Thaksin confident over Reds
Thailand Prime Minister Thaksin Shinawatra is confident of buying into Liverpool after building tycoon Steve Morgan's 73m rival offer was rejected.

Liverpool directors branded lifelong fan Morgan's plan as "unattractive" after a board meeting on Thursday.

Thaksin's offer remains on the table and he said on Friday: "It is now 51-49 in our favour. We are in a good, better-than-even position.

"Our proposals involve not only buying shares and would benefit the club."

Morgan is mulling over his next move after admitting he is baffled at Liverpool's decision to reject his proposals.

The Anfield directors claimed Morgan's offer did not represent the true value of the club.

But a spokesperson for the self-made property magnate said: "The board's response doesn't seem to make sense.

"Mr Morgan's proposal is to underwrite the investment of 73m into LFC, not to buy the club."

The spokesman added: "Under his proposal, the investment would be open to all shareholders, including the board.

Age: 51
Born: Garston, Merseyside
Occupation: Building magnate
Estimated fortune: 312m
Anfield offer: 73m cash injection

"In addition, the ordinary supporters would, for the first time, be able to buy a share in the club.

"Mr Morgan's offer merely underwrites the proposal, thereby guaranteeing that 73m will be made available to the club.

"What matters to Liverpool Football Club is how much money they have available, as soon as possible, to strengthen their squad and fund the stadium."

Liverpool rejected Morgan's offer after several hours of talks, appearing to hand the initiative to Thaksin.

The Prime Minister of Thailand has offered 65m for a 30% stake in the club.

"Liverpool Football Club confirms that it has received two indicative proposals for investment in the club, the Thai Investment Proposal and the Bridgemere Proposal backed by Mr Steve Morgan," read a club statement.

"The board of Liverpool Football Club have today met with their financial advisors, Hawkpoint Partners, to consider these proposals.

"The board note that the Bridgemere Proposal, at 1.750 per share, implies a current value of 61m for the entire club, which is a substantial discount to the value placed on the club by the board.

Age: 54
Born: Chiang Mai, Thailand
Occupation: Prime Minister
Estimated fortune: 560m
Anfield offer: 65m for 30% stake

"The board have therefore concluded that the Bridgemere Proposal as currently constituted is not attractive.

"They intend to discuss their response to both these proposals with the respective parties.

"A further announcement will be made in due course."

The directors know that the majority of fans would prefer Morgan to be given the nod.

He has worked his way up from being a brickie and his 300m fortune now means he is the country's 137th richest man.

BBC Five Live's Alistair Bruce Ball
"This does not mean the bid is dead in the water"

Steve Morgan
"This proposal will keep ownership of the club with the fans"

Thai premier's soccer hopes
12 May 04  |  Asia-Pacific
Thai PM in Liverpool talks
15 Mar 04  |  Liverpool
Thai PM renews Fulham talk
30 Oct 03  |  Fulham

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