BILLIONAIRE mining magnate Clive Palmer has been approached by senior Liberal figures to be the party's federal president.

Australia's fifth-richest person has been sounded out to consider leading the party through to the next federal poll.

The Courier-Mail can reveal the knives are out for president Alan Stockdale, with senior Liberal figures claiming the ex-Kennett government minister could even face a no-confidence motion.

But in a sign of defiance, Mr Stockdale last night signalled he may seek another term when the party elders meet at the Liberals' federal council next year.

The push to remove Mr Stockdale is being led by senior figures in Queensland and Western Australia who claim they have little faith in how the Liberal Party's finances are being managed.

Mr Palmer would be a controversial pick as Liberal president given he worked for the Nationals and was a great admirer of former premier Sir Joh Bjelke-Petersen.

Mr Palmer said whether he ran for the Liberal presidency would "depend on the party's needs".

"It's a big job to do," he said.

"I don't think it's likely for me to be a candidate – at this stage."

Meanwhile, The Courier-Mail can reveal that former federal Liberal president Ashley Goldsworthy this week delivered an unexpected rebuff during his address to the new dissident Liberals Club dinner.

Mr Goldsworthy told the audience that those who failed to support Queensland's new merged conservative party had "lost the plot".

Originally published as Libs want Palmer for president