Liverpool managing director Ian Ayre has no doubts the club is on the up under new owners Fenway Sports Group.
Now interest payments are down to a manageable level - believed to be about £3million - more money can be diverted to rebuilding the squad.
"On and off the pitch since the end of the last financial year, the picture is an improving one as we focus on growing profitability and strengthening the first, reserve and academy operations," said Ayre.
"We have a very minimal debt and that allows us to reinvest that money into the team and the squad, which is what everybody connected with the club wants to see.
"We had an extremely successful January transfer window which saw the ownership and management teams working closely to bring in some high quality players.
"We have also focused on reducing the average age of our squad and are delighted with the progress of a number of our younger players who have come through our revamped academy operation.
"The club is now in an excellent position to move forward and all of us can approach the future with optimism.
"We're starting to see great signs of improvement on and off the pitch and we have a great team of people with everybody rowing in the right direction with unity.
"I think all of those things combined - a greater level of access to funding and a greater level of unity and clarity - just sets us up for a great future."
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