Motherwell fans to be consulted after ‘serious’ investment proposals made

Motherwell FC supporters are set to be given some major decisions to make, following several proposals to invest in the fan-owned club.

Outgoing chair Jim McMahon revealed at the annual general meeting on Wednesday night that they had received “four or five serious approaches”, following a recent announcement that the club were open to investment.

Talks with two of those interested parties – one American and one multi-national – have “progressed rapidly”, but both would result in significant dilution of the Well Society’s 71% stake.

With the interested parties keen to push forward, Well Society members are set to be consulted given at least one of the proposals would reduce their shareholding below 50%, while members have been promised the final say on whether to accept a concrete offer.

The Well Society was set up in 2011 and assumed a majority stake five years later. It has close to 4,000 members, who have already invested £1m in the club, mostly in the form of a loan, while about £750,000 is in a reserve fund.

The news came on the backdrop of financial results, which showed the club made a £1.6m loss last season.

McMahon claimed the loss was “fully anticipated, managed and primarily the result of various long-term strategic decisions made by the club in recent years”. The club have invested heavily in Fir Park, including a new £1.2m hybrid pitch, new PA and CCTV systems among other projects.

Turnover was £6.4m, an increase of more than £800,000, the majority of which can be attributed to a rise in income from UEFA.

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