So what do people make of the news that the PM of Thailand (and billionaire) is making a heavy investment in LFC. Our Asian Abromavich? Let's hope he gives us some extra cash to spend this summer!!!!!
Well, I have done my research and I think I've figured out how this investment will be handled. The board will issue 65 million worth of new shares which will then be offered to existing shareholders in an amount proportionate to what they already own. For example, Steve Morgan, the controversial figure who had an earlier investment offer of 50 million rejected by chairman David Moores, would be able to add to his current 5% holding by taking up exactly 5% of the new shares. What is most interesting about this arrangement is that Moores himself would NOT exercise his right to buy a percentage of these new shares, thus diluting his majority holding for the first time. (His stake would be reduced to around 35-40%.) These shares would be taken up by the Thai prime minister who may also acquire the shares made available to Granada, the media company that owns 9.9% of the club but for various reasons is unlikely to reinvest in it. What this means is that the Thai PM will end up buying a majority of the new shares but not all of them. Therefore his holding could end up falling well short of the 30% figure that is being reported in the papers. It is also possible that restrictions will be placed on Shinawatra's voting rights. Some will say that Moores should have spurned foreign investment and accepted Steve Morgan's offer instead but by all accounts the two men detest each other and would not have coexisted peacefully in the boardroom. From Moores' perspective the Thai PM's offer is more attractive because he can continue to excercise control over the day-to-day affairs of the club without interference. I have strong reservations about this whole thing, of course. But if there must be an investment I think I would be less concerned if it came from the Thai PM than Steve Morgan.
What would be your reservation Gabbage? Just would like to know the down side if there is any. In addition could this be a move related to finance or aid the stadium deal? It seems that anything that keeps us afloat with the huge spending of the major clubs in Europe is a good idea.(the arse being an exception) Heck I may by me a few grand of shares, does anyone have Moore's telephone number.
My reservation is his quote the last time these stories popped up...something about just wanting to get into "any big English club" in order "to promote soccer players from Thailand"...
Buying a stake in Liverpool and hence being involved in any Far-East ventures is not going to damage him in the popularity stakes - seems more LFC fans out there than in Liverpool!
This guy is a swarmy little s### and a fascist to boot but I expect he'll not have a controlling position in the teams affairs and we will have a lot of money to spend on players. If we can turn over 15 million from offloading a raft of players and add the 10 million from a CL spot, we'd have a pretty good kitty to go buying players. Let's see if it comes off.
That's what I read too. The LAST thing I want is for us to become some Prime Minister's puppet, where we have to have a certain # of his country's players. That's even more disgusting than what Chelsea have done . . .
Being the eternal optimist that I am, I am going to pretend the talk about promoting players from Thailand was made solely for the benefit of the Thai press. He knows he won't have the majority of shares, but wants to get his name in print as much as possible. I am more concerned about Liverpool turning into Chelski II - they had a wonderful team last season, qualified in CL ahead of us. I believe that they could have at least challenged Arsenal for the title if they had kept the 2002-03 team intact and brought in one or two reinforcements, but they destroyed all semblance of balance and chemistry with their purchases.
Balance and chemistry are nice things to have, but I'm more concerned with my football club not selling its soul. If Rick Parry turned over a rock in the park tomorrow and found 200 million pounds in cash, that would be one thing. Selling out to a number of diverse business interests to make a couple pennies makes me feel like we're inching towards the Scum view of what a football club should be. I saw Mr. Parry in an interview last year, and one thing he said made a big impression on me. He stated very plainly and firmly that the club has only two fundamental goals; to win silverware and to make its supporters proud. I do NOT see things like "profit", "a big transfer kitty", or "wealthy board members from Asia" in those list of ideals. And I am radically opposed to bringing on fat cats if it flies in the face of the primary ideal of making the supporters proud. (Read Amnesty International's warnings about this slimeball, and his press secretary's assertion that this is being payed for with tax money . . .)
Morgan now has put a deal forward. http://www.breakingnews.ie/2004/05/11/story147071.html Liverpool were today contemplating two offers to invest millions into the club. A Thai Government spokesman today claimed that Thai Prime Minister Thaksin Shinawatra had reached a £60m (€89m) deal to buy a 30% stake in the Reds. And a report in today’s Liverpool Echo details an offer to invest £73m (€108m) in the club from building tycoon and Liverpool fan Steve Morgan. Morgan, who claims a previous offer to underwrite a £50m (€74m) share rights issue was rejected by the club, has come back with a two-part proposal. He plans to underwrite a new share issue worth £61m (€90m) and to issue a further £12m (€17m) worth of shares for the fans to buy. The bulk of the money would be spent on team strengthening with the rest earmarked for the new stadium plan. Morgan’s new offer would allow current chairman David Moores to buy some of the new shares. That would mean Moores could stay in control at Anfield with Morgan likely to gain a seat on the board. Thaksin met with a group of Liverpool representatives led by chief executive Rick Parry yesterday and earlier today Thai Government spokesman Jakrapob Penkair said an agreement had been reached with no details available ahead of a joint statement by Thaksin and Liverpool. There remains confusion, however, over whether the deal represents a personal or Government investment by Thaksin. Jakrapob said today: “We will buy it in the name of Thailand. We want Thai people to be part of the purchase. “The Thai Government is the one that negotiated the deal, not Thaksin, and most of the money will come from public funds.” This would appear to contradict a statement made over the weekend by Thailand’s Deputy Minister of Commerce Pongsak Ruktapongpisal. Prior to yesterday’s discussions with Parry, Ruktapongpisal said: “I also want to assure you that the money comes from the Prime Minister himself – not from public funds.” Shinawatra refused to clear up the confusion. “Let’s wait until Thailand buys the team before going into details whether we will spend Thais’ money or the private sector’s,” he said.
how did he make all of the money ? i don't think the salary of a PM will make someone a billionare...
http://soccernet.espn.go.com/headlinenews?id=300102&cc=5901 I'm very worried about this, to the point where it could mean the end of my support. This guy is scum (not Scum), and an organization that has always conducted itself as classy as Liverpool Football Club should have nothing to do with him. Hopefully Parry will come to his senses and reject the offer.
I sure hope that Parry rejects, there is no way i want that guy coming in and turning us into chelski. But of course, when the guys in charge look at how we did this season, and then see all that money waved in their faces, I think it might be hard for them to turn it down. I just pray to God they do.
What about Morgan's offer though? That one doesn't bother me half as much, because a) he's a lifelong LFC fan, and b) there doesn't seem to be any ulterior, non-football related motives.
I have no problem with Morgan's bid. It's the notion of the club doing business with someone so morally reprehensible that offends me.
He got this from the Texan's. So what does it mean??? http://www.shsu.edu/~pin_www/T@S/2002/ItemShinAwardStory.html
Sam Houston Integrity Trinket Snuff Hundreds If not Thousands http://news.bbc.co.uk/2/hi/asia-pacific/1108114.stm "Since coming to power... he and his inner circle have been largely successful in taming the once vibrant and proud print journalists by using their enormous economic influence and by flagging up patriotism..." Who? Stig's with Lanky on this, perhaps to a greater degree. Stig
Thanks for posting that link. That was the first article I have seen that told us about what kind of person this Prime Mininster is. I agree that we shouldn't associate ourselves with someone who has killed off thousands of drug dealers in his country. It would make more sense to accept Morgan's bid, but apparently Morgan and Moores don't get along.
For me the sad part is that it appears like there is not much negative reaction to this in Liverpool. You'd think a working class city with memories of Thatcherism and tragedy would rise up with one voice and reject this. But much of the man on the street comment is to the effect that "we need the money to catch up in the league". Having said that, I'm not sure how I'll react when it goes through. The tradition and feeling about LFC is bigger than the Moores, Parry and the Thai fascist. And I support DC United and frankly Anchutz and Hunt are the money behind a fair amount of extremely right wing crap too. Perhaps not directly involved in murders but not far removed. I don't think Morgan stands a chance with the current board. I'm sad tonite.
I wouldn't go that far with Anschutz. The difference is that he's a private citizen who contributes his money to causes with which he agrees. I have no problem with that, even though I disagree with his beliefs. Shinawatra, on the other hand, is a public official who undoubtedly gained his fortunes through illicit means (from a policeman to a telecom tycoon?) and has used his power to, among other things, harass Burmese refugees seeking asylum in Thailand.
I'm with Stig on this one. The more I read about this 'gentleman' the more I dislike him. I already hate the Burmese. Notice how the report refuses to use the name Myanmar. I also echo LB. This would be a sad day for Liverpool. I really think a few of the fans only see the money and what it can buy for Liverpool the team. Thinking if Chelsea can buy second place we can too. (Steven Kelly, editor of Liverpool fanzine Through the Wind and the Rain, added: 'We should have distanced ourselves from this guy from day one. If we had an ounce of humanity we should have said 'No' immediately.)
For the moment, I think I’ll take a “wait and see” attitude on this whole Shinawatra issue. But in a related story: There are rumors that an astonishingly gifted but little-known ageless starlet by the name of "Mep" Histophilis is available from (very) lower-division German side 1.FC Faustus. With this possible cash infusion from Thailand, the estimated £6.66M transfer fee strikes many as a bargain-- as his acquisition would guarantee us the Prem title for years to come. I suppose this is an appropriate time for us all to pray for the Saints tomorrow. ----