Anfield, Liverpool F.C."s Historic Stadium, Will Be Renovated Paul Ellis/Agence France-Presse - Getty Images The entrance to the Kop at Anfield, Liverpool F.C.'s historic stadium. In English soccer, there is no place where history and tradition are valued, respected and cherished more highly than at Anfield, the home of Liverpool F.C. So while it may not seem like everyone's definition of, as managing director Ian Ayre put it, "a huge step forward" to finally shelve plans for a new stadium that were first announced a decade ago - in favor of redeveloping and rejuvenating a 120-year-old site - to those who view Anfield as their spiritual home, it makes perfect sense. Two years to the day since Fenway Sports Group bought Liverpool, the Premier League club said Monday that it would proceed with plans to renovate Anfield rather than build a 60,000-capacity stadium in neighboring Stanley Park at an estimated cost of £300 million ($482 million). John W. Henry, Liverpool's principal owner, has been here before, of course. After acquiring the Boston Red Sox in 2002, Henry was faced with the question of whether to pursue plans for a new stadium next to Fenway, or to renovate the existing, crumbling, beloved ballpark. He opted for delivering a smart and sympathetic renovation that did not compromise Fenway's charms or character. His current challenge - one that may go some way to defining his legacy among Liverpool supporters and in English soccer as a whole - is to accomplish a similar feat 3,000 miles away. Most Liverpool supporters had hoped Henry and Fenway Sports would arrive at a decision regarding Anfield that matched the one they reached in Boston. The need for a larger capacity has intensified as Liverpool's on-field fortunes have declined, with the match-day revenue of the rivals Manchester United and Arsenal, both of whom play in considerably bigger stadiums, now dwarfing those Liverpool can generate with Anfield in its current state. Liverpool has yet to confirm the capacity of the new-look Anfield, but the consensus seems to be that it will grow by about 15,000 from its current size. The cost of the expansion is estimated at £150 million ($241 million). But the obvious need for growth is offset by an equally clear desire to protect the heritage of a site that has been the club's only home since its formation in 1892. A compact, atmospheric venue where even the Chelsea captain John Terry - a man not known for his eagerness to eulogize rival clubs" stadiums and supporters - acknowledged that the hair on his arms had once stood up during a European Champions League match, Anfield is now at the center of a bold plan to bring it, and Liverpool, up to date. But although modernization is essential, so is a degree of sensitivity. Think of Anfield's Kop, Shankly Gates and Hillsborough memorial in terms of Fenway's Green Monster. If there are aspects of Anfield that Liverpool supporters will insist remain in their current form, those are the ones. The rest - notably the Main Stand and Anfield Road end - is in desperate need of improvement and expansion. The Kop, the single-tier stand that has become the defining image of Anfield, represents much more than the sum of its nearly 13,000 seats. Initial reports suggest that it will remain untouched, preserving the most famous stand in British sports. But, with the Anfield Road end of the stadium in line for an overhaul, it remains to be seen whether the two most poignant reminders of Liverpool's history - both the glory and the tragedy - will be affected. The Shankly Gates are a tribute to the club's greatest manager, Bill Shankly. They also bear the title of Liverpool's signature tune and unofficial motto, "You'll Never Walk Alone," and the memorial to the 96 supporters who lost their lives at Hillsborough Stadium in 1989, symbols of the humanity that runs alongside sport within this soccer-mad club and city. Ayre has stressed: "There will always be a Hillsborough memorial at Liverpool Football Club. In terms of its current location, whether that will be affected, it's difficult to determine. Perhaps the biggest area of sympathy and sensitivity when it comes to renovating Anfield - a planning application for which is due to be submitted next summer - revolves around those who live in earshot of the Kop's choir. Previous owners of Liverpool have tried, and failed, to redevelop the stadium because the needs of the local community were not met or respected. The difference this time, it seems, is that there is finally a willingness from all parties to work together, with a wider regeneration of the area - not just the stadium - now planned. Henry has proved he can strike a balance between sentiment and modernization once before. And although he has found that not everything that works in baseball is guaranteed to translate to soccer, there is genuine hope that Anfield can now follow a blueprint that worked so well at Fenway Park. Steven Cotton is a sportswriter for The Post in Bristol, England.