Liverpool chief commercial officer Billy Hogan says the club are progressing with attaining a sponsor the new Main Stand at Anfield.
Construction of the Main Stand - which will take the capacity of Anfield to 54,000 - began last year and is scheduled to open for the 2016/17 season. Attention has now turned to attaining a sponsorship partner in order to maximise the commercial effects.
The Reds are among a cluster of sides who have remained committed to retaining the traditional name of their stadium but the intention to sell the naming rights of one stand is a watershed moment for the club.
But Hogan says the commercial arm of Liverpool is conscious about upsetting the club's tradition, stating to IBTimes UK: "It is something that we take into consideration with every partnership that we have. We are very conscious of trying to protect that and improve that matchday experience.
"A lot of attention has been paid to create a new stand but one that looks like it's always been there. There are realities of the world we live in and we are looking for new revenue opportunities. This gives us the chance to bring in a partner to take a significant seat at the table."
Despite the new £5.1bn Premier League television deal, the Reds' kit deal with Warrior Sports - the second-biggest in English football history - and the club's plans to secure naming rights for the new stand, they are also planning to introduce a new pricing structure.
Season ticket prices at the Merseyside club have increased 10% over the last five campaigns, a greater adjustment in costs than at either Chelsea or Manchester United over the same period.
The most expensive match ticket at Liverpool has also gone up 37% over the past five years and is currently priced at £59, and such increases have drawn scathing criticism and protests from fans affected.
"From a ticketing perspective we look at ticketing from the entire stadium," Hogan added. "Obviously [the new stand] has an impact because as we look at the overall stadium.
"We have taken an approach where the best seats in the house are priced at the highest level. There are affordable tickets. That is something we'll look at once the new stand opens.
"We'll see some increases but also see some of the lower prices continue to come down. It is about finding affordable pricing throughout the stadium and finding the right spread of ticket prices.
"As [the new Premier League TV deal] relates to ticket pricing that is one component of the overall revenue structure of the club.
"From a ticketing perspective we look at ticketing from the entire stadium. Obviously [the new stand] has an impact as we look at the overall stadium."