Thai Liverpool deal in doubt over cash row

Thailand's Prime Minister has scrapped plans to use a state lottery to buy a stake in Liverpool.

Thaksin Shinawatra is attempting to conclude a £60million bid for a 30 per cent stake in the Premiership club.

However, mounting opposition to the government's plans to use a one-off state lottery to raise the funds has forced a rethink.

"Taking money from the poor is not our aim," said Shinawatra. "When we found that it is wrong, I had to put a break on it. We have to scrap the lottery project."

The plan had met intense opposition from critics, who said it would promote gambling and force the poor to part with hard-earned money.

A group of leading academics had called for the proposed investment to be declared illegal.

Human rights organisations had already expressed their concerns over the plans and questionable priorities of billionaire Shinawatra.

A senior group of Thammasat University lawyers claimed in a letter to the Bangkok Post that the move defied the Thai constitution.

They claimed the constitution "did not permit the government to run any enterprise for profit" - and said its bid for the club was effectively profitdriven. They warned any deal would constitute a clear break of Thai law and hit out at the government for attempting to finalise the arrangement by "questionable means".