Liverpool, which owes two banks £350m, has renegotiated its debt with the Royal Bank of Scotland.
Club owners Tom Hicks and George Gillett are believed to have extended the £290m RBS debt for another year, but agreed to pay back £60m.
Negotiations between RBS, Wachovia and the owners have been prolonged, with fears the banks may call in the loans and threaten the short-term funding of the club.
Latest accounts show Kop Holdings, the parent company of the Anfield club, lost £42.6m in the year to August 2008, with interest payments accounting for £36.5m of those losses.
Meanwhile, the owners have failed to find the money to build the club’s new stadium, with preliminary work on the Stanley Park venture halting last season.