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BBC's Jonathan Head in Bangkok reported a conviction in Thailand could affect Thaksin even if he stays in exile.

His recent acquisition of the British football club is still subject to the British Football Association's "fit and proper person" test, which specifically bars people convicted of corruption, even in a foreign court, the BBC correspondent added.

The British media also played up the news of Thaksin being summoned by the Supreme Court to appear before the court to enter a plea on corruption charges.

Right after the court's order, websites of leading British media such as BBC, The Guardian, The Telegraph and The Sun reported that Thaksin's football deal was likely in a serious trouble due to his corruption charges and his assets frozen in Thailand.

A Guardian headline read: "Thaksin ordered to face corruption charges in Thailand."

Just as Thaksin appeared to be within days of closing a 81.6 million pound deal to buy the football club, Thailand's highest court for the first time ordered him to answer accusations surrounding a multi-million pound land deal, it reported.

A headline in The Telegraph website said "Thaksin ordered back to Thailand". It reported that Thaksin must return to Thailand to appear in court to face corruption charges.

The Sun said Thaksin could face prison sentence. It said a panel of Supreme Court judges agreed to proceed with charges described as "misconduct of a government official and violation of a ban on state officials being party to transactions involving public interests".

If found guilty the ex-Thai prime minister could face up to 10 years in prison, according to chief prosecutor Seksan Bangsomboon.

Thaksin and his wife Khunying Pojaman will be expected to appear before the Supreme Court on August 14 to enter a plea on corruption charges relating to the purchase of Ratchadaphisek land in 2003.

The court's Criminal Tribunal for Political Office Holders set the date following its decision on Tuesday to hear the case.