Liverpool chief executive Rick Parry says spiralling costs have forced the club to scale back plans for a futuristic new stadium.
The Reds are still committed to building a new 70,000-capacity ground.
But Parry said the design would be "slightly downgraded" from plans released earlier this year.
"It will be a massive improvement on where we were 12 months ago, if not quite as dramatic as the plans unveiled in the summer," said Parry.
"We are now considering two schemes but the stadium will be a 70,000-seater.
"The new stadium will be a significant improvement on the original plans and a slightly downgraded version of the new ones.
"The single tier Kop remains fundamental to the design and we are not expecting any delays - it should be on schedule for 2011."
The cost for the proposed stadium in Stanley Park was estimated at £400m, but that figure is now set to be reduced.