Football club worth $940 million puts $694 million deal on hold after ‘ties severed’ with Russian firm amid Russia-Ukraine crisis

Everton have certainly made a name for themselves as one of the most valuable football clubs in the world. Premier League clubs are worth an estimated $940 million. Now he’s building a new $694 million stadium for his home games.

However, the naming rights deal for the new stadium is pending. The Liverpool-based club announced in May 2022 that it had suspended his sponsorship deal with Russian conglomerate USM.

Naming rights to Everton’s $694 million football stadium

The decision to sever ties with USM was a major economic blow to Everton. The Russian company also agreed to pay around $36 million for the stadium’s naming rights. Funds have already been put into the construction of the new stadium.

Unable to return the money, Everton were forced to find a new naming rights partner for the new stadium.With naming rights suspended and sponsorship deals terminated, Everton faces an uncertain future . However, in the Premier League he club is still one of the most valuable football clubs in the world. And I will definitely recover from this setback.

Why did Everton cut ties with USM?

Everton has suspended its sponsorship deal with Russian company USM after Russia invaded Ukraine. Alisher Usmanov, known for his ties to USM and its owner, President Putin, was forced to sever all ties with Everton after being sanctioned by the British government.

Here is Everton’s official statement: “Everyone at Everton is shocked and saddened by the horrific events unfolding in Ukraine. ”

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Everton have also shown support for Ukrainian player Vitaly Mykorenko. “The players, the coaching staff and everyone working at Everton fully support Vitaly Mikorenko and his family and will continue to do so.” The statement mentioned. “The club can confirm that it has immediately terminated all commercial sponsorship deals with the Russian companies USM, Megafon and Yota.”

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