"(Liverpool) have agreed in principle but there are some details which have to be further negotiated," deputy commerce minister Pongsak Raktapongpaisal said after a cabinet meeting which discussed the 100-115 million dollar offer.

Prime Minister Thaksin Shinawatra said earlier he was confident the deal would be clinched later this week, as the two sides had reached agreement on "60 percent" of the plans.

"Now 60 per cent is comfortable, and there's still another 40 percent that we still have to discuss before we agree," he told reporters.

Thaksin said there were three or four minor points which required further talks and clarification before a resolution could be announced.

"In principle there shouldn't be any problem," he said.

"We submitted the MOU (memorandum of understanding) to them and they countered with their draft to us and then we have to have further negotiation."

"Things should conclude this week," he said, adding he would send top government, sports and legal representatives to Britain to work out the details of the agreement.

Thaksin, a self-made billionaire before entering politics, had been expected to fund the deal himself along with investors but the government has now said it will handle the financing, although it claims no taxpayer money will be used.