Thailand's billionaire prime minister says he has "better-than-even" odds of winning a stake in English football club Liverpool after its board rebuffed a rival bid from British businessman Steve Morgan.

"I would say it is now 51:49 in our favour. We are in a good, better-than-even position," Thaksin Shinawatra told reporters in Bangkok hours after Liverpool directors said Morgan's bid was "not attractive".

Thaksin, a telecom-tycoon turned politician, is offering 4.3 billion baht ($105 million) for a 30 percent stake in the English premier league club. If the bid succeeded, the Thais would seek a role in the club's business, he said.

"Our proposals involve not only buying shares but they also would benefit the club. We will not be just a silent partner," he said.

Thaksin now appears to have a clear advantage over Morgan, a property developer whose Liverpool roots won over the fans but failed to impress the board.

Morgan, who has been a vocal critic of how the club is run, wanted to increase his five percent stake with a deal funded by a rights issue and the sale of shares to supporters.

After weighing up both bids on Thursday, the directors said Morgan's offer "implied a current value of 61 million pounds ($107.6 million) for the entire club, which is a substantial discount to the value placed on the club by the board".

"The board has therefore concluded that the Bridgemere Proposal as currently constituted is not attractive".

Liverpool is 51 percent owned by David Moores, whose family has had control for half a century, and 9.9 percent owned by television company Granada.

The board's statement made clear that further talks lie ahead but Thaksin said he did not foresee any changes to the Thai offer, which he insists grants the fairest conditions.

"I don't think there will be more negotiations because we have confirmed our proposals but they will likely need time to consider the details," he said.

THAI ROLE?

Thaksin said the Thais would seek an active role in the running of the club.

"We will nominate representatives to participate in Liverpool's management -- the Sports Authority of Thailand (SAT) governor, president of the Thai Football Association, a marketing expert and a finance expert, for example," he said.

Thaksin has given few details of his bid but says it would inject 45 million pounds ($80.7 million) of new money into the club, with the rest going to buy shares from existing shareholders.

Thai newspapers have questioned whether private or public funds would be used, while opposition politicians believe the deal is a ploy to distract attention from other issues.

Thaksin said on Friday the state-run SAT would set up a subsidiary to seek funds from people willing to finance the deal.

SAT would hold a 51 percent stake in the new entity, which would be listed on the Thai stock exchange and through which Thai nationals and the private sector could buy shares in Liverpool.

Thaksin's bid has had a mixed response from Liverpool fans in England after the British media carried reports on his human rights record, especially a "war on drugs" last year when more than 2,500 Thais were killed.

Conversely, demonstrators in Bangkok, including controversial massage parlour king Chuwit Kamolvisit, accused the British press of arrogance in questioning Thaksin's approach to human rights.

"I came to support the protest against Britain looking down on Thai people," said 42-year-old nurse Kissaraporn Seubsai, one of a handful of red-clothed protesters outside the British embassy.

"I want Britain to apologise for these actions. They should print an apology on the front page of the newspapers," she said.

Thaksin has dismissed the controversy over his government's human rights record and said he would consider bidding for other English clubs if the Liverpool deal fell through.