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Ian Ayre believes the redevelopment of Anfield will soon allow the club to compete financially with their Premier League rivals.

And after a summer of change both on and off the pitch, the Liverpool FC chief executive revealed the Reds’ transfer business has achieved the “objectives” set out by Brendan Rodgers.

Work on the stadium is currently ongoing ahead of the new season, with a 650 tonne roof truss lifted on to the Main Stand last month.

Once completed next summer, the first phase of development will be complete, and will make the Main Stand one of the largest all-seater single stands in Europe’s top divisions.

With further work to follow on the Anfield Road stand, the capacity will eventually rise to just under 60,000.

And Ayre says the extra revenue generated by the stadium will be “vital” for the club.

“The stadium is vital to the health of the club and we want to compete at the highest level,” he told Sky Sports.

“And if you look at revenue at clubs, match-day revenues are important, as well as the mix of commercial and media.

“If you look at Arsenal as an example, after building the Emirates, they generate around 40% of revenue on match day and we generate nearly 20%.

“So this new stadium will get us back to that sort of level because we need to be on an equal level from a revenue perspective with our competitors.”

IN PICS: Anfield's redevelopment

The redeveloped stand will comprise of three tiers with the existing lower tier featuring a widened player tunnel, new team benches, a media platform and wheelchair viewing positions.

Ayre is pleased with the work done so far, and says staying at Anfield – rather than building on a new site – was important.

“Since the new ownership group (FSG) came in, we took the decision to work hard to find the right solution,” he added.

“It’s about finding something in keeping with this great stadium, keeps us at our spiritual home and delivers the sort of capacity which the fans and club deserve.

“It’s not just about the stadium. It’s also the regeneration of the whole area, the council, the housing group – a not-for-profit housing group in the area.

“And it was important to get a stadium design in keeping with the existing Anfield. As well as having excellent modern facilities, it will look like it’s always been part of this fantastic stadium.

“Staying here was so important. But also finding the right economic solution for the long term interest of the club and this does that.

“It gets us towards the capacity we want, and at a better cost than building a new stadium.”

Ayre on transfer activity

On the pitch, meanwhile, Brendan Rodgers has been busy in the transfer market, bringing in seven new players – including £32.5m man Christian Benteke.

It means the squad has been reshaped before the start of the new season, with Ayre pleased with the efforts made to bring them to the club.

He said: “We set out a plan with Brendan at the start of the summer, and the objectives the manager wanted to achieve.

“We’ve achieved all of them.

“So we are very pleased with how the summer has gone and it’s been kind to us this year.

“It’s interesting because we don’t do anything differently, but sometimes the cards fall in your favour, and sometimes they don’t.

“But we’re very pleased with the outcome.”