LIVERPOOL managing director Ian Ayre insists a multimillion redevelopment of Anfield will enhance the club’s transfer market spending power and not diminish it.

On the second anniversary of Fenway Sports Group’s purchase of the Reds, Ayre confirmed their intention to remain at their current home and not pursue a new build project in Stanley Park.

That decision was made on the back of Liverpool City Council announcing extensive plans for a regeneration of the Anfield area with a housing association set to also invest heavily.

Redevelopment of the Main Stand and Anfield Road end is likely to cost an estimated £150million and while nothing has been forthcoming as yet on how this money will be procured Ayre said it would not impact on football matters.

‘‘As we’ve said, the right solution is the right economic solution,’’ Ayre said.

‘‘More so from it detracting from our spending in the transfer market, the whole point of doing this is to actually increase our revenues.

‘‘If we look at our biggest competitors with a bigger capacity, like Manchester United, Arsenal, their matchday revenues are significantly ahead of ours.

‘‘This whole initiative is designed to generate additional revenues so the ultimate solution has to be one that increases the overall output through the process rather than decreasing it.’’ FSG have a history of updating historic old stadiums as they did a similar thing at Fenway Park, home to baseball’s Boston Red Sox, and they will now look to do the same on Merseyside.

Planning applications to raise capacity to 60,000 are likely to be submitted next year.