Everton FC has abandoned plans to build a new stadium in the Walton Hall Park part of Liverpool, turning its attention to two other brownfield sites.

In a joint statement made by the football club and Liverpool City Council, the pair conceded that the plan to move to the site and regenerate the area using retail investment was not viable in the “current economic climate”.

Investment in retail, said the statement, was more focused on city centre and not out-of-town developments like the Walton Hall Park project would have been. As a consequence, alternatives are being pursued.

Mayor of Liverpool Joe Anderson said: “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.

“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.”

In February, former Arsenal shareholder Farhan Moshiri acquired a 49.9 per cent stake in Everton and immediately announced his plans to build the club a new stadium as a “suitable stage to perform on in the future”.

Chief executive Robert Elstone said: “While our work evaluating the alternatives is at an early stage, we are hopeful that the new sites provide us with a much more straightforward, deliverable opportunity to build a new stadium.”