London: Liverpool confirmed on Thursday that work to expand the Main Stand at their Anfield home will begin next year and be completed during the 2016-17 season.
The club will add 8,500 seats to the stand at a reported cost of £100 million ($157 million, 126 million euros), taking its capacity to over 20,000 and raising the overall capacity of the stadium from 45,276 to around 54,000.
The five-time European champions will continue to play their matches at Anfield -- the club`s home since 1892 -- while the work is carried out.
"Today is an important milestone in the history of Liverpool Football Club," chief executive officer Ian Ayre said in a statement.
"Since we embarked upon this journey we have always said that we need certainty; we now have that certainty and will progress with the expansion of the Main Stand."
Liverpool have also secured outline planning permission to add around 4,800 seats to the stadium`s Anfield Road Stand, but no timeframe has yet been established for that element of the ground`s redevelopment.
In its current state, Anfield is dwarfed by the stadiums of some of Liverpool`s main rivals, such as Manchester United`s Old Trafford (75,731 capacity) and Arsenal`s Emirates Stadium (60,338).
As a result, whereas United generated £127 million in match-day revenue during the 2012-13 season, Liverpool`s equivalent income was £52 million, according to financial analysts Deloitte.