IAN AYRE is adamant Liverpool will not be forced into selling players despite the club’s debt rising by £22million.

Accounts released yesterday show the Anfield outfit posted losses of £40.5m in the 10 months between August 1 2011 to May 31 2012 – a restructured period designed to bring alignment with the football season.

The loss was less than the £49.3m recorded the previous year and was accrued against the backdrop of no European football.

Nevertheless, the figures – which reveal Liverpool are now £87.2m in debt – are certain to cause unease among supporters with the Anfield outfit having been without lucrative Champions League football this campaign and almost certain to also miss out next season.

With the club’s owners Fenway Sports Group firmly focused on the impending arrival of Financial Fair Play, Liverpool managing director Ayre stressed there was necessary work to be undertaken.

But he is confident there is no “panic” and that manager Brendan Rodgers will not be pressured into raising funds through the transfer market.

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

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

“There's no panic on our part, far from it. 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.

“The recent rules that we've adopted at the Premier League will expect people to break even and limit their spending and player wages.

“We will conform just as everyone else does. We've been a big advocate in pushing for that so we're certainly not going to fall foul of it.”