The owners of Liverpool FC have sold a minority stake in the club to investment firm Dynasty Equity.
Fenway Sports Group (FSG) has been seeking investment for some time, as they plan to pay off the clubs' bank debt incurred during the pandemic.
The money from the sale will also go towards enhancements for Anfield Stadium, as well as repurchasing Melwood training ground as a dedicated space for the Liverpool women's team.
FSG has repeatedly denied rumours over the last twelve months that they are not looking to sell the club, and have described Dynasty's involvement in their newest investment as "passive."
The owners have also said the new deal will not affect the operation of the club in any way, nor will it provide funds for a transfer 'war chest.'
FSG President Mike Gordon said: "Our long term commitment to Liverpool remains as strong as ever.
"We have always said that if there's an investment partner is right for Liverpool then we would pursue the opportunity to help ensure the club's long-term financial resiliency and future growth."
Jurgen Klopp has welcomed the arrival of Dynasty Equity, even if it will not mean an immediate boost to his transfer budget.
“I can understand that people see money in football as all about spending and I get that,” Klopp said.
“I am part of it in moments and I want to spend money as well, but people should not forget that we are building a new stand…we already built another stand and the training ground, a lot of stuff that keeps the club in a healthy state for a long, long time.
“If somebody comes in and helps us to do it that’s absolutely great. It’s not that we need a budget of £200million that we can spend for the team, but the better place that we are in the more we can spend anyway.”
The sale comes as Liverpool continue their winning streak. Having beaten West Ham 3-1 on Sunday, the club has won 18 games in a row with their last defeat on 1 April.
They are currently sitting second in the Premier League table, just two points behind Manchester City.
Want more on the issues affecting the North? Our podcast, From the North answers the questions that matter to our region.