Liverpool will speed up plans to revamp Anfield - and are already speaking to companies about sponsoring their new stand.

Officials at the club were given outline permission to extend the Anfield Road End when they applied for planning approval for the now-completed Main Stand.

They have until September 2019 to submit detailed plans for the next phase of the development, which is expected to take the capacity above 60,000.

Liverpool are speeding up plans to redevelop Anfield as they target a 60,000 capacity

The Reds are currently in discussions with various companies about sponsoring the new stand

However, the success of the extension of the Main Stand, which has triggered a staggering rise in matchday income of £12million, has prompted them to press ahead on the next phase of redevelopment at their iconic home this summer.

And Sportsmail understands that a number of high-profile companies have been approached about putting their name to the new stand which would generate even more income for the club.

Officially, Liverpool say that they are currently at a feasibility stage over the expansion of the Anfield Road End and are considering a number of options.

It is expected that an extra tier will be added, providing an extra 6,000 seats and taking its height to the same size of the new Main Stand, which has proved a hit with supporters.

Space behind the stand means that an expansion would be relatively straightforward as opposed to the expansion of the Main Stand, which was only possible after a number of nearby homes were bought and then demolished. It also means that, should it be deemed economically and logistically viable, they could push for 8,000 seats instead of 6,000.

At one stage, the plan in the boardroom was to monitor the performance of the Main Stand, and bank the additional income, before turning attention to the Anfield Road End.

However, the roaring success of the extension, which raised the capacity by around 8,500 seats to 54,074, has speeded up the process.

The £12m extra it generated took Liverpool’s matchday revenue to £74m, according to their accounts for the financial year up to May 2017 - a season without the additional income European football brings.

That leaves them behind Manchester United and Arsenal, on £107m and £100m respectively, but another expansion is likely to bridge the gap further as they seek to create a level financial playing field.

None of Anfield’s existing stands currently carry the name of a sponsor, but the revenue this could bring is thought to be a major attraction.