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Dear Liverpool supporters,

From our first days as owners we have understood that serving as custodians of this incredible institution is a distinct privilege and as such, we have been driven solely by the desire to return LFC to the pinnacle of football. In the world of modern football, growing the club in a sustainable way is essential to realising this objective.

To that end, we have never taken a single penny out of the football club. Instead we have injected vast sums of our own money to improve the playing squad and modernise LFC’s infrastructure - exemplified by the £120million advance from FSG to build the new Main Stand. This massive undertaking was made in order to provide more supporters access to Anfield and also to produce additional revenue to help us compete financially with clubs that have greater resources. When it opens in August this year, the stand will accomplish those goals, thereby fulfilling a promise we made upon acquiring LFC in 2010.

We believe the plan successfully addressed these concerns and are disappointed that these elements have been either lost or, worse, characterised as cynical attempts to mask profiteering in the plan as a whole. Rather, we prefer to look at them as the parts of the ticketing plan we got right.

On the other hand, part of the ticketing plan we got wrong.

A great many of you have objected strongly to the £77 price level of our most expensive GA seats and expressed a clear expectation that the club should forego any increased revenue from raising prices on GA tickets in the current environment.

Message received.

After an intense period of consultation with LFC management we have decided to make major revisions to our ticketing structure for 2016-17:

Removal of game categorisation – regardless of the opposition fans will pay the same price for matchday tickets.

The pricing of tickets will be readjusted to result in zero revenue growth from GA ticketing on a like-for-like basis.

Though individual ticket prices may move marginally from this season, we are freezing our 2016-17 GA ticket revenue at the 2015-16 level exclusive of newly-added seats in the new Main Stand.

The price of our highest general admission ticket will be frozen at the 2015-16 level - £59.

The price of our highest season ticket will be frozen at the 2015-16 level - £869. The lowest price reducing a further £25 from the 2015-16 level to £685, as well as all other tiers being frozen or reduced.

£9 GA seats will be offered for each and every Premier League match, an allocation of more than 10,000 tickets across the season.

We would hasten to add that the other initiatives announced last week in the 2016-17 plan will remain:

17-21 young adult concession – 20,000 tickets across the Premier League season available at a 50 per cent reduction for young people.

1,000 tickets to Premier League matches across the season will be given away free of charge to Liverpool schoolchildren based on merit, as recommended by their teachers.

John W Henry, Tom Werner, Mike Gordon