Govt Hints That It Will Abandon Liverpool Deal

[ThaiPauly]

One of the funniest things I have ever read was in Mondays Bangkok Post, apparantly someone had daubed some graffiti near Anfield which said

"You'll Never Wai Alone"

Cracked Me Up

[12call]

Thaksin scuttles funding plan for Liverpool deal

Thailand's prime minister Thaksin Shinawatra has scrapped controversial plans to hold a Bt10bn national lottery to mobilise public funds for the acquisition of a 30 per cent stake in Liverpool, the English premier league football club.

"Taking money from the poor is not our aim," the premier told reporters on Thursday. "We have to scrap the lottery project. .... There are over 100 ways to find the funds."

The premier’s about-face came amid a growing public outcry against the controversial scheme, which has been described as both unconstitutional and against fundamental Buddhist precepts that ban gambling.

In the wake of intensifying criticism from academics, legal experts and social activists, Mr Thaksin appeared to have been finally swayed by a rare critique this week from Chamlong Srimuang, his old mentor who first introduced the billionaire telecommunication mogul into politics.

Mr Chamlong, a popular former governor of Bangkok and a devout Buddhist, warned in an open letter this week that the proposed lottery that would have had a jackpot of Bt1bn would "blind" Thais and corrupt society by tempting Thais away from hard work towards the vice of gambling.

Mr Thaksin told reporters on Thursday that he had to heed the advice of Mr Chamlong. "When he warned me that the lottery is a vice and a sin, I had to listen," the prime minster said.

Political analysts also had warned that the controversial lottery plan "could bring people out on the street" if the premier forged ahead despite the public clamour. Many prominent and highly regarded figures in Thai public life had condemned the proposed use of public funds to buy a foreign football team and said the plan was contrary to the country’s 1997 reformist constitution.

However, Mr Thaksin said the scrapping of the lottery would not necessarily doom the Bt4.6bn deal, which he said could be financed through other means.

Thai officials said last week that the purchase of a 30 per cent stake in the football club was virtually a done deal, although he said the Thai government had to first complete due diligence on the team's finances. Since then, Thai officials have expressed some concern about Liverpool’s debts.

Mr Thaksin stunned Thais last month when he announced that he was negotiating "on behalf of Thailand" to buy a stake in Liverpool. Initially, many Thais assumed that the premier would use a part of his own vast fortune - estimated at $1bn - to make the purchase. But he subsequently proposed holding a lottery to raise money, so the stake could be held by the Thai people.

[ovenman]

Mr Thaksin told reporters on Thursday that he had to heed the advice of Mr Chamlong. "When he warned me that the lottery is a vice and a sin, I had to listen," the prime minster said.

Should I take that to mean Mr. Big will be disbanding the Government Lottery Office soon and the bi-monthly drawings will be a thing of the past, or it is only the Liverpool purchase funding lottery that is a vice and a sin?

[plachon]

Mr Thaksin told reporters on Thursday that he had to heed the advice of Mr Chamlong. "When he warned me that the lottery is a vice and a sin, I had to listen," the prime minster said.

Should I take that to mean Mr. Big will be disbanding the Government Lottery Office soon and the bi-monthly drawings will be a thing of the past, or it is only the Liverpool purchase funding lottery that is a vice and a sin?

Policy consistency never was his strong point Ovenman

[dfwbkk]

I usually tell my friends to go with their initial gut feeling whenever unsure...

MrT and I probably won't be mates...

Are all his schemes just smoke-screens to sneak yet another cash-cow into the family empire? How can he respect himself in the morning after f-in' whomever it takes to perpetuate this bad cycle?

[Rhys]

Jokes.. and jokes.. the pm does give us something to B..about.. gotta love him..

Let's see..what should be his next gambit...Hmmm... let's put those creative caps on the pm... actually, like the comedy group on C-7 or whatever.

I hear, swamp land is a good deal...in Florida...He does..according to GOVT spokeman.. the plastic don.... a special relationship with the Bush.. That's up the but bob.

How about if he talks to the Gumbas in Las Vegas about buying a casino.. The SANDS.. hey.. the pms would go for that.

Oh.. the daily funnies..what makes the papers sell.. When its up.. keep it up.

[Sao Jiang Mai]

Taksin is the biggest drama queen I have ever had the misfortune to observe.

[englishoak]

It's official I just saw Toxin on TV confirming he is abandoning the loto as a bad idea.

No comments about the deal going through another way or being dumped totally.

[george]

Thai Liverpool bid still alive

BANGKOK: -- Thailand's controversial bid for a 30% stake in English Premiership giants Liverpool was still on the table on Saturday despite scrapped plans to fund the deal with a public lottery, Prime Minister Thaksin Shinawatra said.

"As of today the negotiation with Liverpool is still on," Thaksin said in his weekly radio address.

"I only withdrew the lottery fund-raising plan, but I will come up with other means of fund-raising which will not affect the people."

"There are many other methods for fund-raising," he said.

The premier has said Liverpool FC has agreed in principle to sell a stake to Thailand, whose negotiators have estimated the deal at 100 to $115m, but last-minute problems and checks of the club's financial and legal standing mean a final signing may be delayed until July.

Thailand's chief negotiator in the bid, Deputy Commerce Minister Pongsak Raktapongpaisal, on Tuesday rejected reports that the deal was near collapse, but conceded that Thai officials had learned of financial difficulties at the glamour club involving cash flow and loan figures.

Bumper lottery prize

Last month Thaksin caused a firestorm when he announced he would pursue a special lottery that would raise a whopping 10bn baht ($245.9m) to fund the purchase.

Under the proposal, lottery players would have bought 1 000 baht tickets for a chance to win a 1bn baht ($24.59m) jackpot, by far Thailand's largest lottery payout ever.

But it was widely panned by the public and top Thaksin advisors as promoting gambling.

On Wednesday a government spokesperson said the premier would consider private funds, renewing speculation that the billionaire tycoon-turned-politician could dig into his own deep pockets to help pay for the shares.

As if to assure the Thai public of his commitment to battle vice, Thaksin on Saturday ordered police to launch a nationwide crackdown on football gambling - a consuming passion among millions of Thais - ahead of Europe's quadrennial football championships which kick off next weekend.

"I have ordered police to be more strict with football gambling, especially during Euro 2004," he said.

He also took exception to Thailand's highly popular newspaper write-in competitions which dole out large prizes to readers who predict a football tournament's winner, saying the competition was gambling in disguise.

--News24.com 2004-06-05

[englishoak]

"I have ordered police to be more strict with football gambling, especially during Euro 2004," he said.

He also took exception to Thailand's highly popular newspaper write-in competitions which dole out large prizes to readers who predict a football tournament's winner, saying the competition was gambling in disguise.

So lets clarify this it's ok to get the whole country buying overpriced lottery tickets to buy a white elephant which is not gambling right?

The state runs a lottery everyweek which makes them a pretty profit but thats not gambling oh no.

What a total hypocrite, And all on the same subject. The man is unbelievable in his statements.

[tracer0]

I think this idea with Liverpool was wicked from the beginning. The pm will be well advised to pull out quickly because this matter will provide a negative press for him as long as Thailand is involved with that silly story.

Thailand should think of more serious ways to improve the country.

1. anyone investing into a football team to make a profit is to say the least, stupid.

I am not aware of any football team being a sound profit making investment unless advertisement value is included which with upcoming ellections I would asume are a major reason for this idea...

2. It means to me that for Thailand its an excellent idea, buy the lot and any other lossmaking football club....

3. wait for elections and see how they justify the deal (g)

By the way an Engliswh supporter of Liverpool told me the loss was in the Billions, not millions. I would imagine there is an excellent chance that when Liverpool realises that the new 30% shareholder isnt going to fork out cash for imminent losses they themselves will cancel the deal...