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Emergency services have confirmed that 27 people were hospitalised following the incident that saw a car collide with a crowd of Liverpool supporters.
Two people are in a "serious" condition, including a child.
Four people are said to have been dragged out from under the vehicle after it drove into a crowd.
Merseyside Police have urged people not to share footage on social media, nor speculate about the motivations behind the incident.
Merseyside Police Assistant Chief Constable Jenny Sims said: “The car stopped at the scene and a 53-year-old white, British man from the Liverpool area was arrested.
I know that people will understandably be concerned by what has happened tonight.
“What I can tell you is that we believe this to be an isolated incident, and we are not currently looking for anyone else in relation to it.
They also lifted the top-flight title during the Covid-disrupted 2019-20 campaign, when fans were unable to attend matches and social limitations prevented a large-scale celebration in the Merseyside area.
The club said: “We are in direct contact with Merseyside Police regarding the incident on Water Street which happened towards the end of the trophy parade earlier this evening.
“Our thoughts and prayers are with those who have been affected by this serious incident.
We will continue to offer our full support to the emergency services and local authorities who are dealing with this incident.”
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