Thailand’s Prime Minister Thaksin Shinawatra has confirmed that he is poised to buy a 30% stake in Liverpool for a reported £65m.

News that the club’s chief executive Rick Parry was in Thailand to conclude the deal emerged on Sunday and Thaksin said he hoped to formally confirm his stake by the end of the week.

“If Liverpool’s chief executive agrees with our proposals he will go back and talk with the club’s board and then we will make an announcement,” he said.

“If the board are okay with the proposals we will make an announcement.”

Shinawatra’s spokesman, Chakrapot Penkai, explained the rationale behind the deal.

“Thailand thinks that the Liverpool team can enhance the standard of the sport’s development in Thailand a great deal,” he told BBC Radio.

“Why does the prime minister want to invest in Liverpool? Because it is the era of the brand name, with a good quality brand name you can do many things.

“Liverpool’s name is a world-class name – people attach their fantasies, their liking for sports, their enhancement in life, their self-development, along with this kind of team.”

“The prime minister of Thailand will meet the chairman of the board of Liverpool Football Club on Monday afternoon.

“In the evening he will be hosting a dinner party for the chairman. During this period Thailand will be negotiating the final round with the Liverpool club to partially own the team.”