Liverpool's 10-year stadium saga may have come to a conclusion as the Reds' American owners look set commit to developing Anfield to a 60,000-capacity venue with 7,000 corporate seats, instead of constructing a new stadium.

The club have not announced their final decision but detailed plans are in place for expansions of the Main Stand followed by the Anfield Road stand.

The work is expected to cost about £150m, which is £250m less that the estimated cost of a new stadium in Stanley Park; although it is estimated that the club have already spent £50m on designs and planning for a new stadium.

If the club does select a new venue it is expected that the sale of naming rights would subsidise the cost but no suitable deal has been found.

Liverpool City Council has worked closely with the club on stadium options for years and now believe official confirmation on the refurbishment is imminent from Fenway Sports Group - owned by Liverpool owner John W Henry.

A council spokesman said: "It does seem to be the case that the club have decided to stay at Anfield and that Liverpool officials are preparing to confirm the decision."

Henry himself has been a supportive of the club remaining in their current home. He believes the club can develop without moving, like Boston Redsox - who Henry also owns - have done at their long-time home Fenway Park.

Past proposals to renovate Anfield have fallen short due to a lack of area for the famous stadium to expand into but the council regeneration plans for the area have provided a solution. The council intend to buy the property around the stadium for demolition and refurbishment.

Posted on 22/09/2012