Everton have announced that the club have suspended its commercial arrangements with Russian companies related to Alisher Usmanov.
A club statement on Wednesday afternoon stated: “Everyone at Everton remains shocked and saddened by the appalling events unfolding in Ukraine.
“This tragic situation must end as soon as possible, and any further loss of life must be avoided.
“The players, coaching staff and everyone working at Everton is providing full support to our player Vitalii Mykolenko and his family and will continue to do so.
“The club can confirm that it has suspended with immediate effect all commercial sponsorship arrangements with the Russian companies USM, Megafon and Yota.”
USM Holdings, MegaFon, and Yota are all names which have become increasingly prevalent at Goodison Park and the club's Finch Farm training ground in recent years, since the club came under the stewardship of Farhad Moshiri.
All three are associated with Uzbek businessman, whose assets were frozen by the European Union on Tuesday.
Usmanov was referred to by the EU as a “pro-Kremlin oligarch with particularly close ties to Russian President Vladimir Putin ”. Usmanov alled the EU decision “unfair” and added "the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honour, dignity, and business reputation. I will use all legal means to protect my honour and reputation."
In Everton's most recent filed accounts (2019-20), sponsorship income accounted for £63.7million of the club's revenue, with half of that figure understood to come via Usmanov's companies.
Usmanov’s investment in the Toffees also included a £30million payment in 2020 to have first option on the naming rights to Everton’s new stadium on Bramley-Moore Dock.
The Toffees had long maintained that Usmanov - despite his relationship with Moshiri - was a distant figure at the club, with his dealings only concerning commercial affairs.
Indeed, it was reported earlier this week that, via Zoom, Usmanov actually asked Frank Lampard a question during his interview to become manager - although the club claimed Moshiri was concluding a separate call with Usmanov about different matters and he had no direct communication with Lampard.
