Reds play down Thai deal

Thailand Prime Minister Thaksin Shinawatra claimed today that his country's bid for a stake in Liverpool had been approved in principle by the club's board.

Thailand's cabinet has also backed a plan to fund the £60million deal through a one-off state lottery.

"In principle, they have no problem with our offer," Thaksin said. "By the end of June, we will own a stake in a Premiership club."

However, Liverpool were today being more cautious and a spokesman said the situation had not changed since last week. Should the deal go through it will be a blow to building tycoon Steve Morgan, who has already had rival bid rejected by the club.

Thaksin's proposal would see the Thais get a a 30 per cent stake in the club and they will be able to market some of Liverpool's products using the club's name.

A senior official in Thaksin's office said the club called Thai negotiators yesterday to accept the deal. "We are waiting for final written confirmation," he said.

The club is 51 per cent owned by chairman David Moores and 9.9 per cent owned by television company Granada.