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Thailand secures two seats on Liverpool board
Bangkok, May 27: Thai negotiators say they have two seats on the Liverpool football club board.
Bangkok, May 27: Thai negotiators say they have two seats on the Liverpool football club board.
Thailand has secured two seats on Liverpool's board as part of its unprecedented bid for a 30 percent stake in the English permiership soccer club, the country's chief negotiator on the deal said on Wednesday (May 26).
On his return from talks in Liverpool, Deputy Commerce Minister Pongsak Raktapongpisal said Thailand was conducting 'due diligence' financial scrutiny of the club, and a deal would be signed within four to eight weeks if no problems arose.
"The deal with Liverpool at this stage, all the agreement is, we very satisfied, both sides are very satisfied and the memoprtandum is no need to sign, we just record the meeting and we go to the next process, is due diligence," he told reporters at Bangkok airport.
He also said the two sides had resolved the thorny issue of how much control the Thai company managing the 4.6 million baht ($113 million) investment would have over the 112-year-old club.
"We agreed to the both sides, between David Moore and from Thai side, to be equal appointed," Pongsak said, adding that they had secured "two seats at least" on the Liverpool board.
Liverpool's website lists 12 people on its board, including chairman David Moores, chief executive Rick Parry, and the team manager, a post held until earlier this week by Frenchman Gerard Houllier.
Pongsak said Thailand's billionaire prime minister, Thaksin Shinawatra, for whom the Liverpool bid has provided a boost to political fortunes, would not be taking up either of the places.
The club, four times champions of Europe, is 51 percent owned by Moores, whose family has had control for half a century, and 9.9 percent owned by television company Granada. According to Thaksin, the deal will dilute Moores' holding to 35 percent.
Thaksin has said his offer, probably to be funded by a controversial one-off national lottery, would inject $81 million into Liverpool, which needs cash to buy new players and pay for a bigger stadium.
Pongsak said Thailand would certainly not seek to influence Liverpool's decision in picking a new manager following Houllier's sacking on Monday, sayin git was an internal matter.
"We are not experts in professional football. I think we will be a good partner in this region. To make more fans in this region and more merchandise," he said.
Bureau Report
"We agreed to the both sides, between David Moore and from Thai side, to be equal appointed," Pongsak said, adding that they had secured "two seats at least" on the Liverpool board.
Liverpool's website lists 12 people on its board, including chairman David Moores, chief executive Rick Parry, and the team manager, a post held until earlier this week by Frenchman Gerard Houllier.
Pongsak said Thailand's billionaire prime minister, Thaksin Shinawatra, for whom the Liverpool bid has provided a boost to political fortunes, would not be taking up either of the places.
The club, four times champions of Europe, is 51 percent owned by Moores, whose family has had control for half a century, and 9.9 percent owned by television company Granada. According to Thaksin, the deal will dilute Moores' holding to 35 percent.
Thaksin has said his offer, probably to be funded by a controversial one-off national lottery, would inject $81 million into Liverpool, which needs cash to buy new players and pay for a bigger stadium.
Pongsak said Thailand would certainly not seek to influence Liverpool's decision in picking a new manager following Houllier's sacking on Monday, sayin git was an internal matter.
"We are not experts in professional football. I think we will be a good partner in this region. To make more fans in this region and more merchandise," he said.
Bureau Report