Construction on the planned site which is next to the clubs current ground Anfield, could begin before the end of the year if planning permission is successful.
Liverpool decided to submit a new stadium proposal when American owners George Gillett and Tom Hicks bought the club in March.
"We know pretty much know what the final plans are. They will be unveiled in the coming weeks,” said Nick Parry Liverpool Chief executive. “Whether we build an extension is partly a business decision depending on what the demand will be.
"The owners were concerned that if we were really going to be challenging long term, just in excess of 60,000 was too small," added Perry.
Parry concluded that that the new build would not become a debt burden to the club, and that stadium was an “investment that will generate a return that will allow us to invest in the team.”
