The scheme had been concocted with Liverpool City Council and would have effectively built a new village on the site, but Mayor Joe Anderson said that investment in that type of plan was not forthcoming.
Instead, it has been revealed that two other sites in North Liverpool have been identified as potential stadium sites, with Anderson claiming a new ground could be built within three years.
“Most people will be aware that I did give a commitment to Everton to support a potential scheme at Walton Hall Park with the aim of regenerating the area and creating new jobs,” he said.
“However, through the work that the club and the council have done, we have concluded that effectively building a new village in north Liverpool with lots of retail space is a step too far in this current economic climate.”
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