The turmoil which has gripped Liverpool in recent weeks seems set to subside after owners George Gillett and Tom Hicks completed their £350million refinancing package.

The deal enables the Americans to fund their future plans for the club and, following its conclusion, the pair have signalled their intention to build bridges with embattled manager Rafael Benitez.

Of the £350million secured, £105million will be debt tied to the club - £60million to kick-start the building of a new stadium and £45million for future player transfers.

The other £245million is tied to Kop Football (Holdings) and includes the £60million debts on Liverpool's books at the time of last year's takeover as well as the £185million loan the Americans took out to buy the club.

"The successful completion of this financing package is particularly significant in light of the currently challenging credit-market environment," said Hicks in a statement.

Benitez - whose position appeared fragile after Hicks admitted he had sounded out Jurgen Klinsmann for his job - was also given the backing of the owners.

"Since the meeting with Rafa on December 16, at which some widely reported communications issues were discussed, Rafa has been assured that he has continuing and enthusiastic support as the club's manager," added Hicks.

"Reflecting that support, Kop [Holdings] recently approved his transfer payment request to sign Martin Skrtel for £6.5million and is in discussions with Rafa and club management regarding additional player signings this summer.

"Rafa is under contract for two more seasons following this season. I am solidly behind Rafa and am confident of the team's competitive prospects under his continuing leadership."

Kop Football (Holdings), the American duo's holding company, also confirmed Dallas-based architects HKS have won the battle to build Liverpool's new £300million Stanley Park stadium.

HKS produced the original designs for the now 71,000-capacity arena which were scrapped by Hicks and Gillett late last year when they ran £50million over budget.

But after revising those plans, and beating off Manchester-based AFL's rival bid, the American company will get the contract for the new ground.

"With the refinancing process now done, club supporters can look forward to the timely commencement of construction work on the new stadium and renew their focus on actions on the pitch," said Hicks.

More news from SportingLife.com