Liverpool are thought to be in a healthier financial state

Deputy Commerce Minister Pongsak Raktapongpisal told a Bangkok radio station that it seemed Liverpool had become reluctant to sell.

He said: "After Euro 2004 they seemed to be less enthusiastic on the deal."

Pongsak believes Liverpool do not need the money after selling Michael Owen to Real Madrid for �8m.

Earlier this week, Paiboon said he had given Liverpool a detailed offer for a major stake and expected an answer by the end of September.

Before Paiboon's bid, the Thai government offered around �65m for a 30% stake in Liverpool.

But Prime Minister Thaksin Shinawatra was forced to back out after fierce criticism of his plan to use public money.