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Last Updated: Friday, 18 June, 2004, 07:31 GMT 08:31 UK
Thai PM ends Liverpool interest
Thai Prime Minister Thaksin Shinawatra
Thai Prime Minister Thaksin Shinawatra says his government will not now be buying a 30% stake in Liverpool.

Thaksin wanted his administration to invest 63m in the Anfield club but public opinion and an inability to come up with funding has ended his hopes.

"The government cannot pursue the deal because it will not spend taxpayers' money," the Thai premier admitted.

"And problems arose with issuing a lottery to raise funds that people considered to be gambling."

The decision has paved the way for Grammy Entertainment, Thailand's largest recording company, to now mount its own bid.

"I don't know how we could raise the money, so we're letting the private sector take over," Thaksin added.

He insisted that any investment in Liverpool by the Thai private sector should contribute to football development in his country by implementing a new training academy.

Grammy chairman Paiboon Damrongchaitham will fly to England this weekend for talks with the Reds, according to his spokesman.

"There will be a lot of negotiations involved and we are unsure when the deal will be signed. We have to wait for him to come back," he added.



SEE ALSO
Thais ponder new path
09 Jun 04  |  Liverpool
Thais bullish on Reds deal
05 Jun 04  |  Liverpool


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