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The Thai bid to acquire a stake in Liverpool has run into trouble after increased opposition within Thailand. The Thai prime minister has had to scrap the lottery project which was intended to raise the money for the bid. There was a growing public outcry against the scheme which was described as unconstitutional and against fundamental Buddhist precepts which ban gambling (although it has been alleged that monks in temples are betting on football results). Students began a signature campaign against the purchase to coincide with the holiday honouring Buddha's enlightenment. Thai Rath , Thailand's largest circulation daily newspaper, published a full page attack describing the purchase of a foreign football team as a 'grand illusion'. However, Mr Thaksin appears to have been particularly swayed by the intervention of his old mentor Chamlong Seimuang. The popular former Bangkok governor and devout Buddhist who initiated Mr Thaksin into political life, warned in an open letter that the proposed lottery would tempt Thais from hard work towards gambling. However, Mr Thaksin insisted that the setback did not mean the end of the bid. 'There are 100 ways to find the funds,' he insisted.
Government spokesman Jakrapob Penkair made it clear that if the attempt to acquire a stake in Liverpool did not succeed, the Thai government would seek to close a deal with another Premiership club. He said that Liverpool was just one of four teams being approached, but did not name the others. However, political resistance in Thailand has been growing for some time. A key member of the National Economic and Social Advisory Council, Palboon Wattana-siritham, has raised legal and constitutional questions about the bid in an 'To all my compatriots' letter. A group of senators is proposing to question the prime minister Thaksin about the deal which, it is argued, could dangerously intertwine national and personal interests. Perhaps most serious of all, it has been pointed out that the deal could fall foul of foreign exchange regulations imposed by the Bank of Thailand which would have to approve the transfer to Britain of the large sum involved. A Bank of Thailand source said that the governor of the central bank, Mr Pridiyathorn Devakula, might be reluctant to approve a transaction of this magnitude because of the political ramifications. Central banks are reluctant to become dragged into political controversies. In Britain sports minister Richard Caborn has emphasised that football clubs have a fundamental duty to retain a link to their community (although I don't remember the Government using this argument when Wimbledon moved to Milton Keynes)
Thailand's cabinet has decided to launch a public lottery with a Bt1bn. (£13.8m) jackpot to mobilise funds for the purchase. Buyers will automatically get Bt200 worth of shares in a holding company to be set up under the state-run Sports Authority of Thailand to hold and manage the Liverpool stake. The authority will, however, keep a 51 per cent controlling share in the company. Local commentators were sceptical about the plan. Kavi Chongkittavorn, assistant group editor of Nation Multimedia Group commented, 'On the surface, it's everybody's money but in the end who runs it? It will be the people with connections. Thaksin gets the best deal because he gets all the political spin.' One person who posted to the independent fan-site LFC Online asked why 'the population of Thailand will have been given a better opportunity to become Liverpool FC shareholders than the population of Liverpool.
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