Thailand to buy 30% of Liverpool?
The government of Thailand have bid 60 million pounds for 30% of Liverpool FC, and claim they are on the verge of an agreement. This is unusual, to put it mildly. Apart from Manchester United, English football clubs, like racehorses, have been horrible investments. Most clubs are forced by competition to dissipate all their rent, and then some, on player wages to keep from being relegated to a lower division. They routinely “raise capital” from supporters in order to maintain their competitive position. Bankruptcy is a common risk when things go bad – see Leeds and Leceister, two clubs that have dropped through the trap door this season. Liverpool have not faced this in decades, but one must still wonder what could be going on in Thailand to make this a justifiable investment. Here are some clues from the BBC, but this looks a lot like hubris on the part of the prime minister to me.