"There's absolutely no reason to sell either Torres or Gerrard," Martin Broughton said in an interview on the club's website.
"I don't want to sell either of them; (coach) Rafa (Benitez) doesn't want to sell either of them. The club is not looking to sell either of those.
"We don't need to do it to pay off any debt."
Liverpool will not be playing in the lucrative Champions League next season after a campaign that has gone from bad to worse.
Broughton's comments vied for attention in the British media on Saturday with reports the club's debts had risen to over 350 million pounds.
The club's American owners Tom Hicks and George Gillett put the club up for sale last month, bringing in Broughton to oversee the process.
"Success for me is completing the sale in a relatively short period - a matter of months - to somebody who hindsight says was a very good owner for Liverpool," Broughton said.
Thank you for reading 5 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.