Liverpool's owners today announced they have completed a £350million refinancing package - and stated that they are fully behind manager Rafa Benitez.
The announcement of the package had been widely expected and American Tom Hicks and George Gillett are now looking to build bridges with Benitez.
The Spaniard's position had been undermined after Hicks confirmed he had sounded out Juergen Klinsmann as a possible replacement if Benitez were to leave.
Hicks said in a statement today: "Since the meeting with Rafa on December 16th, at which some widely reported communications issues were discussed, Rafa has been assured that he has continuing and enthusiastic support as the club's manager.
"Reflecting that support, Kop {Holdings] recently approved his transfer payment request to sign Martin Skrtel for £6.5million and is in discussions with Rafa and club management regarding additional player signings this summer.
"Rafa is under contract for two more seasons following this season. I am solidly behind Rafa and am confident of the team's competitive prospects under his continuing leadership."
Kop Football (Holdings), the American duo's holding company, also confirmed that Dallas-based architects HKS have won the battle to build Liverpool's new £300m Stanley Park stadium.
The statement confirmed that of the £350m financing package £105m will be debt tied to the club. It is understood £60m will be used to kick-start the stadium and £45m for future player transfers, and to meet the club's working capital needs.
The other £245m will be tied to the holding company level and includes the £60m debts on Liverpool's books at the time of last year's takeover as well as the £185m loan the Americans took out to buy the club.
A statement from Kop said: "The overall financing is being supported by a combination of owner cash, letters of credit and personal guarantees totalling £225m, ensuring that the club remains on a sound financial footing."
Hicks added: "This new financing package is a strong vote of confidence in the club's financial strength and a recognition of the exceptional opportunity represented by the construction of the club's new state-of-the-art stadium at Stanley Park.
"The successful completion of this financing package is particularly significant in light of the currently challenging credit-market environment.
"With the refinancing process now done, club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch."
