Having announced that they would not build a new stadium in Stanley Park in October, the Reds are now attempting to acquire the property around the stadium that would be affectedLiverpool managing director Ian Ayre has confirmed that the club expect to be in a position to submit a planning application for the redevelopment of Anfield this summer.
The Reds must acquire the properties around Anfield that would be affected by the expansion before they can send off planning proposals but Ayre says significant progress has been made in that regard.
In October, Liverpool announced that they would redevelop the Main and Anfield Road stands rather than move to a new stadium in Stanley Park.
"We are in an interesting period in terms of our aspirations around the stadium," Ayre told the Liverpool Echo. "Our goal is to extend Anfield. But we need certainty and that comes with the acquisition of properties. Real progress has been made in acquiring them.
"Once they have all been acquired we will go through the planning process. We would expect to be in a position to make that a certainty this summer.
"Once planning has been achieved then we can start construction."
The 50-year-old believes the redevelopment of Anfield is crucial for the club if it hopes to compete financially with Europe's elite clubs.
"There are three core revenue streams - media, commercial and matchday," he explained. "Our media and commercial revenues are very impressive but where we fall behind is our match day revenues.
"Having a bigger stadium and playing in the Champions League are two mechanisms which would dramatically change our fortunes.
"We're determined to press on with the stadium solution. It's in the hands of other people but hopefully we will get there and deliver what our fans want."