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During the latter stages of the parade, a vehicle on Water Street in the city centre ploughed into supporters with reports of multiple injuries.
Police quickly cordoned off the area with emergency services on the scene and a nearby restaurant transforming into a makeshift Emergency Room.
Here's everything we know about the incident at the time of writing...
At just before 6pm on May 26, police were made aware of reports of a Road Traffic Collision on Water Street in the Liverpool city centre.
The car stopped at the scene and a male detained."
Merseyside Police have confirmed a man has been arrested(Image: AFP via Getty Images)
Following their initial statement, the force subsequently confirmed that an arrest had been made.
“We would ask people not to speculate on the circumstances surrounding tonight’s incident on Water Street in Liverpool city centre," a second update read.
“We can confirm the man arrested is a 53-year-old white British man from the Liverpool area.
Information can also be passed on anonymously via Crimestoppers on 0800 555 111.”
It was then confirmed that Counter Terrorism Police were supporting Merseyside Police in their investigation, but police later said the incident was not being treated as a terrorist act.
Emergency services at the scene of the crash on Water Street(Image: PA)
The incident occurred on Water Street in Liverpool, near the Strand and was on the route of the parade, with the bus passing around 10 minutes before the incident.
Four people were trapped underneath the vehicle, including one child.
A statement from the North West Air Ambulance Service (NWAS) reads: "NWAS is supporting an incident in Liverpool city centre, following reports of a road traffic collision.
"We are currently assessing the situation and working with other members of the emergency services.
And for much of the day that was the case before the terrifying incident.
A statement from the club read: "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.