Liverpool have reversed their decision to furlough staff and accept government money following the backlash the announcement received last week.
The European Champions said they would be applying to the government scheme which would see non-sporting employees paid 80 percent of their salaries. They said they would top up the other 20 percent.
However, their decision drew huge criticism. Jamie Carragher was among the former players and supporters to call out the club's move.
"We believe we came to the wrong conclusion last week and are truly sorry for that," CEO Peter Moore said on Monday, saying Liverpool would find "alternative" ways to pay the wages.
Liverpool, who are top of the Premier League, posted profits of more than 40 million euros last season and it was argued the club had no need to apply for the government scheme.
Others pointed out that the move was not in fitting with historical values.
Moore added: "Despite the fact we were in a healthy position prior to this crisis, our revenues have been shut off yet our outgoings remain," said Moore.
"And like almost every sector of society, there is great uncertainty and concern over our present and future.
"Like any responsible employer concerned for its workers in the current situation, the club continues to prepare for a range of different scenarios, around when football can return to operating as it did before the pandemic.
"These scenarios range from best case to worst, and everything in between.
"It is an unavoidable truth that several of these scenarios involve a massive downturn in revenue, with correspondingly unprecedented operating losses.
"Having these vital financial resources so profoundly impacted would obviously negatively affect our ability to operate as we previously have."