Liverpool City Region Mayor Steve Rotheram has now issued a public statement after it was revealed his Combined Authority (CA) will no longer be loaning Everton Football Club £30 million towards its new stadium.
The ECHO revealed today that Everton turned down the offer of the £30m loan from the CA in January, having found alternative sources of funding.
Mayor Rotheram and his organisation remain 'in contact' with the Blues over a £15m grant for the Bramley-Moore Dock project, which was part of the overall £45m package announced last year.
READ MORE: Everton Bramley-Moore Dock stadium project no longer receiving £30m Liverpool City Region loan
News that the Blues had turned down the £30m offer was due to be announced in April, but Mayor Rotheram included it in his response to questions over the deal in light of the ongoing Russia invasion - and sanctions placed on billionaire Alisher Usmanov.
Mr Usmanov has now been sanctioned by the European Union, the UK and the United States due to his alleged links to Russian president Vladimir Putin following Russia's invasion of Ukraine.
Everton have suspended their sponsorship agreements with Russian companies USM, Megafon and Yota following the country's military invasion of Ukraine.
What do you think about this development in the Bramley-Moore Dock Stadium project? Leave a comment below.
Mr Usmanov has been a close associate and friend of Everton owner Farhad Moshiri.
On Thursday, it was announced that Mr Moshiri had severed all business links with Mr Usmanov.
Following our story this morning, Mayor Rotheram has now released a full public statement on the funding situation.
He said: "In September 2021, the Liverpool City Region Combined Authority (LCRCA) approved funding for a £15m grant and £30m loan to support work connected to the new Everton stadium project at Bramley Moore Dock.
"As with all investments supported by the LCRCA, assurances were sought that the project aligned with our investment strategy and significant due diligence was undertaken to ensure that the project would provide value for money.
"As one of the largest construction projects in the North of England, coupled with long term commitments to regenerate the local community, the LCRCA supported the scheme on the basis that it could be the catalyst for the transformational regeneration of communities across North Liverpool and South Sefton.
He added: "Earlier this year, Everton Football Club notified the LCRCA that it had found alternative sources of funding from the private sector and would therefore no longer require the £30m loan.
"We are in contact with Everton Football Club about the next steps on the £15m grant, which is intended to preserve the historical assets of the Bramley Dock area, support the wider development of the site, create jobs for local people, and attract visitors to the region."
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