Liverpool have launched a plan to redevelop Anfield Stadium, which will take the capacity to beyond 60,000.
The club is keen on redeveloping Anfield Road stand at their home ground, which currently sits 54,074.
According to the club's owner, Fenway Sports Group, they have been reconsidering to rebuild for several months, and have finally agreed to start the plans.
“The progress that has been made during ongoing feasibility studies has resulted in us being in a position to allow the outline planning permission to lapse," said the club's chief operating officer Andy Hughes.
“We are committed to working with local residents, planning officials and others as we now focus on the detail behind any proposed redevelopment for Anfield Road. Throughout this process we have been clear that our objective is to find the best possible solution for Anfield Road and that remains the case," he added.
The ambitious plan will see Liverpool leapfrogging the likes of Manchester City, West Ham, Arsenal and Tottenham to second in the league, only behind Manchester's United's Old Trafford.