American firm HKS has been selected to design Liverpool's 71,000-stadium at Stanley Park.
The Dallas-based company have come back to Reds bosses Tom Hicks and George Gillett with a new plan, having initially seen their design turned down last year for being too expensive.
And this time the club's board has decided that the plan "meets the objective of a cost-effective, supporter-friendly design" and has given the go-ahead for work to begin.
As part of the new stadium design, the famous Kop end will gain an additional 5,000 seats compared to the current situation at Anfield with room for 18,500 supporters in the standalone end.
"HKS has developed a more efficient design that, at the same time, is just as stunning as its original design," Hicks said.
"Liverpool supporters should have high expectations for the future: a premier sporting experience at their new stadium at Stanley Park and a winning club on the pitch for years to come."
Today's announcement comes amid reports that the Reds' increasingly-unpopular American owners have agreed a refinancing deal with the Royal Bank of Scotland to open up more funds.
Hicks and Gillett, who have been at the centre of recent speculation surrounding their future at the club, are said to have agreed a deal which restructures the loans needed to secure their £220 million purchase of the club last year.