Principal owner and John W Henry and chairman Tom Werner were understood to be shocked at the sight of an estimated 10,000 fans walking out of the Premier League match against Sunderland in the 77th minute in protest at increases next season which included a new $157 match ticket and the club's first $2,042 season ticket.
They were also surprised by the level of abuse directed at them - fans chanted 'You greedy b******s, enough is enough' before walking out.
It is understood Henry and Werner were keen to stress they believe the connection between supporters is "unique and sacred" and that is the reason they have acted so swiftly to prevent further damage to their relationship with the fanbase.
Having promised an immediate review the American-based owners have listened to the concerns of fans and moved quickly to try to rectify the situation.
As a result they have announced a number of changes to their initial proposals in a structure which will also remain for the 2017-2018 season.
Revenue generated from ticket prices will be frozen at 2015-2016 levels; this means the highest match-day price for a general admission ticket will remain at $120 - the lowest will be $18 and these tickets will be offered for every match with an allocation of 10,000 across the season.
The highest season ticket price will be frozen at $1,775 and the lowest $1,400.
Liverpool's owners have also announced the removal of game categorisations, so regardless of the opposition, supporters will pay the same price for match day tickets.
"It has been a tumultuous week," said an open letter jointly signed by Henry and Werner.
"On behalf of everyone at Fenway Sports Group and Liverpool Football Club we would like to apologise for the distress caused by our ticket pricing plan for the 2016-2017 season.
"We were strongly engaged in the process to develop the ticketing plan for 2016/2017.
"We met directly with representatives of LFC's Supporters' Committee and along with LFC management, wholeheartedly agreed with major concerns raised, notably: access for local and young supporters; engagement and access to Anfield for local children; access to Premier League matches for those in Liverpool most challenged by affordability.
"We believe the plan successfully addressed these concerns and are disappointed that these elements have been either lost or, worse, characterised as cynical attempts to mask profiteering in the plan as a whole.
"Rather, we prefer to look at them as the parts of the ticketing plan we got right.
"On the other hand, part of the ticketing plan we got wrong."