Liverpool FC owners George Gillett and Tom Hicks have secured a refinancing of their loan deal with banks Royal Bank of Scotland and Wachovia.
The agreement means that the club will plough ahead with plans to build a new £300m new stadium at Stanley Park, close to their existing Anfield home.
Kop Football (Holdings), the American duo's holding company, also confirmed that Dallas-based architects HKS have won the battle to build the new 71,000-seater stadium.
A 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.'
The two American holders have fallen foul of the club's supporters in recent weeks after they revealed they had been involved in talks with former Germany manager Jurgen Klinsmann about the prospect of replacing current Liverpool boss Rafael Benitez.
While Hicks and Gillett were negotiating with the banks, there was also widespread speculation that Dubai Investment Capital, the investment arm of the Dubai government, outbid when Hicks and Gillett bought the club last year, was considering a renewed bid.
With Anfield, the club's home for over a century, holding only 45,400, the switch to the new stadium will significantly enhance Liverpool's match-day revenue from ticket sales and hospitality.
However, some sceptics have questioned whether they will be able to consistently fill such a large stadium.
