[lfc-news] Thais still keen on Liverpool - Post

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Liverpool Daily Post, 24 Nov 2004
Thais still keen on Liverpool
By Tony McDonough, Daily Post

A BID by a Thai businessman to buy a stake in Liverpool Football Club is
still very much alive, he told a news conference.

However, it is likely to be less than the 30% stake originally suggested
and dependent upon gaining merchandising rights.

Speaking in Thailand, Paiboon Damrongchaitham, chairman of entertainment
group GMM Grammy, said he was seeking a merchandising agreement with the
club's sponsors Reebok.

At present the sportswear group has the sole rights to produce Liverpool FC
products in Asia. Mr Damrongchaitham first came forward with his £60m bid
for a stake in June.

He flew into London to meet Liverpool chief executive Rick Parry and a
representative of chairman David Moores and said the bid would be financed
out of his own personal fortune along with other investors.

This week, Mr Damrongchaitham said he had submitted a proposal to Reebok
last Friday about obtaining merchandising rights for Liverpool FC products
in Asia.

He added he expected to reach an agreement with the company in around six
weeks but declined to give further details.

GMM Grammy is a multi-million pound entertainment group which is seeing
rapid growth in revenues in its core businesses which include the
management of several Thai entertainment stars and the collection music
copyright fees from radio stations.

In August Merseyside born property tycoon Steve Morgan saw his bid to make
a £70m investment in the club collapse.

Liverpool FC last night declined to comment and no one was available at Reebok.


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