Everton maintain Bramley-Moore Dock stadium unaffected by Russian sanctions
Everton will suffer a short-term £500,000 hit over their decision to suspend deals with their Russian sponsors in light of the invasion of Ukraine, according to iNews journalists Sam Cunningham and Mark Douglas.
Writing on the iNews website, the journalists report that despite suspending contracts with USM, Megafon and Yota, £30million will not yet be paid back to Alisher Usmanov-owned USM for the exclusive naming rights of the new stadium at Bramley-Moore Dock.
Despite the Russian war against Ukraine “club sources maintain that the suspension of deals with Russian companies will not affect the construction project”.
Cunningham and Douglas also report that the £500,000 hit is going to be largely due to the removal of billboards, signage and the reprinting of the matchday programme for Thursday night’s FA Cup clash with Boreham Wood.
They add: “But Everton will know that the elephant in the room is the stadium sponsorship rights. USM’s £30million payment is not being returned at the moment but the club will need to find a solution in the two years that precede Bramley Docks’ scheduled opening in 2024. It is, club sources admit, inconceivable that USM would be above the new arena unless something drastic changes in geopolitics in the intervening months.”
Awkward turn of events
Everton have found themselves in the middle of football’s reaction to the Russian invasion of Ukraine due to the strong ties Usmanov has with the club.
While the billionaire is Uzbekistani by birth, he holds Russian citizenship and has close ties to Vladimir Putin, which means he’s been hit by sanctions by the EU.
It is reported that Usmanov, who’s the founder of USM Holdings, has had his assets frozen in light of the sanctions [Telegraph].
Everton, who have Ukrainian international Vitaly Mykolenko among the ranks, now have to make a decision.
Do they sever ties with Usmanov? Do they wait this out and see how it goes? Or do they push on with the oligarch?
Farhad Moshiri’s spell as Everton owner has hit one drama after another and while the impact at Goodison Park will not be in the same universe of what people are going through in Ukraine, it’s yet another situation the businessman needs to dig himself out of.
In other Everton news, an ex-FIFA official has sent a message to Bill Kenwright after what Richard Keys said.
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