Liverpool have reported poor financial results, with debts that has increased to £87.2million after the club posted a loss of £40.5million in their annual accounts.

Reports have suggested that the club may be forced to sell som of their top starts this summer, due to their poor financial position.

"We won't be selling anyone because of the financial position," said Ayre.

"If we are selling anyone, it will be because they are deemed by the manager to be surplus to his requirements and if that happens we will be replacing them and bringing new players in as we always do.

"There's no panic on our part. We feel that we are making progress and improving all the time.

"Our aspiration for the next couple of years, as the rules will dictate, is to break even and then to make a profit beyond that."