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Motherwell FC is pleased to announce midfielder Jack Leitch has signed a new two-year contract to stay at the club.

Eighteen-year old Leitch is a graduate of the clubs’ Elite Academy and made his first-team debut last term, eventually turning out ten times for Stuart McCall’s side.

His contract was due to expire but he has been rewarded with a new deal, which ties him to Fir Park until the summer of 2016.

The hot prospect is the latest in a line of players who have committed their future to the club, with the squad for 2014/15 taking shape.

Speaking exclusively to MFC TV, Leitch said:  “I’m delighted to have my future sorted out, especially being a Motherwell fan. I’ve grown up supporting Motherwell and it’s always been my dream to play for the club.

[pullquote]I’m delighted to have my future sorted out, especially being a Motherwell fan. I’ve grown up supporting Motherwell and it’s always been my dream to play for the club.[/pullquote]

“The manager threw me in and, at my age, I can’t complain at having ten appearances and six starts. I want to build on that and continue playing well, hopefully achieving the success we had last year.

“There’s a lot of competition for midfield places but that’s healthy and still being young, I can learn a lot of the the likes of Keith (Lasley) and Paul (Lawson) and hopefully continue to develop myself as a player.”

‘Well boss Stuart McCall added: “We asked Jack to step-up to the plate later last season and he did just that.

“Everyone was very impressed with just how easily he made the transition from Under 20s captain into the starting eleven.

“Games against Hearts and Celtic at Fir Park in particular stand out in terms of his overall performance and contribution.

“We have nine Academy products in our first-team squad at the moment and that not only bodes well for the club, but highlights some of the fantastic work going on at Braidhurst by the coaches, scouts and other staff.

-WATCH JACK’S INTERVIEW EXCLUSIVELY ON MFC TV–

The award-winning Motherwell Media team is an essential department within the business, with the aim of ensuring fans and the local community feels connected and engaged with the football club.

In addition, the department provides essential support to the various departments throughout the club as well as maintaining and growing relationships with both local and national media to promote Motherwell FC’s best interest.

Reporting to the General Manager, this position manages the people and processes with regard to the delivery of a fully operational club media and communication department across a variety of platforms.

The role requires a commercially aware, energetic professional who will further develop and execute an integrated communications strategy, manage various stakeholder groups and will be forward thinking in the areas of new media.

Based primarily at Fir Park, the post holder will directly manage a full time team of two with a larger team on match days.

The post holder will provide strategic direction and leadership for the Media team, including club website development, exclusive football and non-football content, publications, social media, public affairs and other activities such as football analysis, whilst overseeing the distribution of high quality communications to Motherwell fans and stakeholders.

Key tasks and responsibilities:

• Manage the design, editorial and development of the club’s website and social media platforms.
• Oversee the production of the ‘Steelmen Matchday Magazine’, including content creation and quality of design, as well as other relevant publications.
• Responsible for delivering all match day communication requirements, communications team management and media liaison.
• Oversee the development and expansion of the clubs’ football analysis department.
• Head up and manage the Motherwell Media team, providing clear direction and aiding development through effective management.
• Maintain a close, trusting relationship with the first-team manager, his staff and players.
• Develop and ensure the successful and timely execution of an integrated communications strategy.
• Fully understand and support the club business, including contractual and commercial objectives through the communications strategy.
• Take complete ownership of the communications agenda internally and externally across all stakeholders, using all available channels including social media, website, email, PR etc.
• Work alongside each department to prioritise key communication requirements set against the business objectives.
• Monitor Motherwell FC’s reputation, ensure coherent and consistent presentation of messages and deliver a robust response to crisis management.

What we’re looking for:

Experience and knowledge of the sports industry is desired but not essential. However, a passion for football is.

Education/Qualifications/Training:

• Educated to degree level or equivalent or significant industry-specific experience.

Specific Experience:

• Experience of producing innovative, exciting and engaging football and non-football content for the various club platforms including website, social media and publications.
• Experience of developing, managing and executing integrated communication strategies and tactical plans.
• A track record of delivering high profile, innovative communication campaigns that have delivered results and achieved business objectives.
• Proven people management experience within a sports or events environment.

Abilities, Skills, Knowledge:

• Knowledge and experience of managing website content, email and social media programmes.
• Demonstrate vision and the ability to influence and deliver change into an organisation.
• Positive about achieving club, departmental and individual success.
• Must have the ability to make quick decisions in a fast paced environment, if required.
• A natural leader who has experience of managing a team.
• A strong communicator who can converse at senior levels with strong written and presentation skills.
• A people person who has the ability to build strong relationships across all internal and external stakeholders.
• Must be accountable for delivering results within assigned levels of responsibility.

You will be required to attend all First-Team and Under 20s fixtures, including evening games and potentially matches involving the Academy and Woman’s Team, as well as events with relevant time off in lieu.

Due to the nature of the business a flexible attitude in terms to unsociable hours will be necessary in order to perform the role effectively. A full driving licence is also essential.

How to apply:

Please send your CV with a covering letter to alan.burrows@motherwellfc.co.uk by Thursday 12th June.

Motherwell FC is today delighted to confirm skipper Keith Lasley has signed a new two-year contract.

Lasley, a colossus for the Steelmen for over a decade combined, was out of contract this summer but has put pen to paper on a new deal that will tie him to the club until May 31st 2016.

The 34-year old has been a mainstay in the Fir Park engine room since returning from Plymouth Argyle in 2006, after also spending five years at the club as youngster.

He inherited the captaincy when Stephen Craigan retired two years ago, and ‘Well have gone on to finish top league runners-up in consecutive seasons.

The midfielder is currently enjoying his testimonial year, which will hopefully culminate in a match at Fir Park this summer.

Speaking exclusively to MFC TV, Lasley said: “After the real high at the end of the season, the summer is always a time of uncertainty, but it has been no secret I wanted to stay here and hopefully we can continue the great run the club has been on.

“I am delighted to sign on again and be a part of what will I hope will be another few successful years. We’ve managed to tie up most of the squad; the positive thing is the continuity, which should give us a platform to go again next season.

[pullquote]“I’ve loved life at the club and I think I’ve made a decent contribution in that time. Most importantly though, I’d like to think there is more to come from me.”[/pullquote]

Steelmen boss Stuart McCall commented: “I am absolutely thrilled.

“Keeping Keith at the club was imperative because he is such a huge influence both on and off the park. It’s often said in football that a team is only as good as the senior pros. There are few better than Las.

“Although he’s in his mid thirties, he shows no signs of slowing down whatsoever. He’s one of the fittest in the squad, won the clubs’ Player of the Year last season and was pivotal in the fantastic way things ended.

“We’ve got some great competition for places in the midfield now which will keep everyone on their toes going into the European and SPFL Premiership season.”

-WATCH KEITH’S INTERVIEW EXCLUSIVELY ON MFC TV–

Motherwell FC is tonight pleased to confirm Craig Moore has penned a contract extension that will keep him at Fir Park to June 2016.

Whilst Moore’s current deal does not expire until next summer, the club was keen to extend that further in view of his growing potential and in recognition of his contribution during the 2013/14 campaign.

The 19-year old suffered a devastating ACL injury in the penultimate match of last season against Inverness Caley at Fir Park, but his surgery has gone extremely well and the hope now is the striker will be back ahead of schedule.

Speaking exclusively to motherwellfc.co.uk, Moore said: “The club have been excellent and have shown a great deal of faith in me that I will repay.

“Obviously the injury was a huge blow as I wanted to have a good pre-season and really challenge for a starting slot next season.

“However, I couldn’t be in better hands with JP (John Porteous) and Adam Stokes in terms of my rehab and, so far, things have being going well.

[pullquote]The club have been excellent and have shown a great deal of faith in me that I will repay.[/pullquote]

“Obviously, it wouldn’t be right to put a time frame on my return, but I am certainly hopeful it will be ahead of the normal schedule.”

‘Well boss Stuart McCall added: “We were delighted with Craig’s contribution last season, he really has made the step up.

“He has already proven with his scoring proficiency with the Under 20s, his fruitful time out on loan and his appearances with the first-team, that he is going to have something to offer.

“He’s a little different to what we have currently in terms of his style and the way he plays. Obviously his injury is a blow, but this club has a great record of looking after players, nursing them back to fitness and getting the best from them.

“Craig will be another example and although he might miss the start of the campaign, he will have a huge part to play not only next season, but beyond.

“Overall, it’s another of the tasks we wanted to complete this summer. There are still one or two deals that we are close to agreeing and we hope to have them tied up and announced just shortly.”

Craig Reid has become the latest player to commit his future to Motherwell by signing a new two-year contract.

The former Celtic, Queen of the South and Morton defender joined the club last February with the Fir Parkers in the midst of an injury crisis.

The former Scotland Youth International, who has experience playing European football with Queen of the South against FC Nordsjælland back in 2008, made his debut against Dundee United at Tannadice the day he signed, then started every game from then to the end of the campaign, either at right-back or in midfield.

The 28-year old won plaudits for his steady influence, hard work and his versatility during his three-month spell.

He will also go down in Steelmen folklore as the man who scored the last-minute winner at Pittodrie to confirm ‘Well as SPFL Premiership runners-up earlier this month.

Stuart McCall was keen to secure the player to a longer-term deal and he is now committed to the club until at least the summer of 2016.

[pullquote]It was incredible just how things went for me last season, particularly the way the season finished. With a good, settled pre-season behind me, I just can’t wait to get going again.[/pullquote]

Speaking to MFC TV, Reid said: “I am delighted to get everything sorted.

“I loved it since I arrived at the club and I am looking forward to the next two years.

“It was incredible just how things went for me last season, particularly the way the season finished. With a good, settled pre-season behind me, I just can’t wait to get going again.”

Steelmen boss Stuart McCall added: “Reidy came in when we needed help last year and performed fantastically well for us; a real unsung hero in the last few months of the campaign.

“I was delighted for him to be the man who scored the winner at Pittodrie, it was just reward for all the hard-work he put in and the sacrifices he made.

“He provides us with a good option both at fullback, but also in midfield. I thought he was excellent doing a man-marking role against both Commons (Celtic) and Pawlett (Aberdeen) in the last few games of the season.

“He’s also the type of lad who will run through a brick wall for the cause and you can’t have enough players with that attitude. We are absolutely delighted to have him for a longer period. “

-WATCH CRAIG’S INTERVIEW EXCLUSIVELY ON MFC TV–

Motherwell FC Community Trust is proposing to develop the current Muirhouse Pitches.

The site will be redeveloped to accommodate one full size 3G football pitch; 2 full sized grass pitches; a three quarter size grass football pitch; and a half sized football pitch.

The current pavilion will be upgraded and a new modular building erected providing classroom facilities, meetings rooms, gym, and community café.

The Hub will also be accessed via a new road being built leading from Shields Drive and rerouting all traffic away from Margaret Drive.

There will be the two Community Consultation Events relating to the project, both taking place at the Isa Money Centre, Muirhouse Road, ML1 2LT.

The first will take place on Thursday 29th May 2014 at 7pm. The second, and final, consultation will take place on Thursday 5th June 2014 at 7pm. Both are expected to finish around 9pm.

You are invited to come along and find out more about the project. There will be an opportunity to discuss and comment on the proposals at the event with our team.

For more information please call us on 01698 239926 or email us on community@motherwellfc.co.uk

Goalkeeper Dan Twardzik has become the second new player to join the club this summer.

23-year old Twardzik was born in Trinec in the Czech Republic, but has German nationality and played two games for their Under 18s.

Ironically, ‘Well tried hard to sign the keeper in the summer of 2009 when he was leaving Bayern Munich, but potential compensation thwarted the transfer and he would later join Karlsruhe, despite doing most of his pre-season training in North Lanarkshire.

He was previously with Como in Italy and Aberdeen before joining up at Dens back in August after being recommended to the club by Gavin Rae, who was a teammate at Pittodrie.

Dan enjoyed a very fruitful period on loan at Fir Park over the Christmas and New Year period when covering for the injured Gunnar Nielsen, Lee Hollis and Ross Stewart. He played five, won five, kept three clean sheets and generally impressed between the sticks.

So much so, with his contract at Dundee expiring, Stuart McCall has quickly seized the opportunity to sign the player on a two-year deal.

[pullquote]I really enjoyed my time over Christmas and wished it could have been extended. It’s a really good place to play your football; everyone at the club is so welcoming and the fans were superb with me.[/pullquote]

Twardzik, out the country at the moment, told motherwellfc.co.uk: “I am absolutely delighted to sign for Motherwell and to have my immediate future confirmed.

“I really enjoyed my time over Christmas and wished it could have been extended. It’s a really good place to play your football; everyone at the club is so welcoming and the fans were superb with me.

“I really look forward to returning for pre-season, working with Gordon Marshall and hopefully pushing for a place in the starting eleven next season and beyond.”

‘Well boss Stuart McCall added: “Dan came in on loan at short notice and performed terrifically well earlier in the season. It coincided with one of our best ever runs.

“We always had it in mind to bring him in and we are delighted he has chosen to sign for us. He’ll battle it out with the other goalkeepers at the club for that number one shirt.”

Although Dan signed his contract with the club this morning, he will be officially registered next month.

Motherwell FC is today delighted to confirm Stevie Hammell is the latest player to commit his future to the club.

The legendary left back has signed a new two-year deal, tying him to Fir Park until the summer of 2016.

It’s a huge boost to manager Stuart McCall as he prepares for the forthcoming SPFL Premiership and Europa League campaign.

The 32-year old made his debut against Aberdeen fourteen years ago and has gone on to achieve much, appearing in both a League and Scottish Cup Final, finishing ‘best of the rest’ on four separate occasions, winning International recognition with Scotland and earning a testimonial year which culminated in a match against Everton.

Towards the end of last season, he played his 500th match in Claret and Amber, leaves him fourth on Motherwell’s all-time appearance list, behind Bobby Ferrier (644), Joe Wark (609) and George Stevenson (551).

He currently sits on 503 appearances and will now surely aim to go on to break more records.

[pullquote]I make no secret of just how much the club means to me, so to be here for at least another two years is excellent.[/pullquote]

Speaking exclusively to MFC TV, Hammell said: “I am delighted to get things done.

“I make no secret of just how much the club means to me, so to be here for at least another two years is excellent.

“Although I had a few niggling injuries that I played through last year, I felt it was a decent campaign.

“I’ve signed for two years but I am certainly not winding down. I am still hungry to achieve great things with Motherwell and that’s the aim now.”

‘Well boss Stuart McCall added: “Steven’s performances last season were the best of my time at the club.

“He seems to get better with every year. The last game against Aberdeen epitomised his season, he was absolutely outstanding.

“Clubs need good senior professionals and there are few better in the game. I am absolutely thrilled he has committed for another two years.”

-WATCH STEVEN’S INTERVIEW EXCLUSIVELY ON MFC TV–

Following yesterday’s End of Season Financial & Strategic Update, the ‘Well Society board today issued the following statement.

Most of you will now have seen the statement the Motherwell board issued yesterday outlining the stark reality of the club’s financial situation and setting an ultimatum to the ‘Well Society. We welcome the clarity and will emphatically embrace the challenge.

We would like to offer our thoughts on the way ahead but first of all we must apologise to ‘Well Society members for a lack of communication in recent weeks following the annual general meeting.

There were a number of significant developments in the run-up to the meeting on May 2 and discussions with the club in the intervening period which made the situation very fluid. So, we felt it best that we wait to communicate with members once the club had outlined its position. But we acknowledge that communication must improve significantly in the weeks and months ahead.

In its statement, the club explained that it posted losses totalling about £780,000 for Stuart McCall’s first two full seasons in charge and expects to record another deficit for the most recent season.

The club has explained some of the reasons behind this performance: the loss of Rangers to the top flight; the continuing lack of league sponsorship; falling attendances (the average attendance at Fir Park was 700 lower this season than during Maurice Malpas’s campaign in charge, when we stayed up on the final day); redistribution of money to the lower leagues; the decision to reduce the prize money for finishing second in 2013; declining commercial income.

Whatever you think of the financial decisions taken, the reality is that the club needs money to underpin these losses. In the past John Boyle plugged the gap but he is under no obligation or expectation to do so again having already donated his shares to the club. These shares were earmarked for the fans through the Well Society and can still be ours.

In the past few months the ‘Well Society loaned the club £230,000 which helped it through a short-term cashflow situation, but the club also sought funds from a third party. The previous year the ‘Well Society made a £150,000 capital injection during a similar period of cashflow issues. In the difficult months of February, March and April next year the club is likely to again need money to see it through to the end of the season when the full SPFL prize money comes in.

If the club cannot get the money from us, they need to seek it elsewhere. That means that time is running out for Motherwell fans to raise the money needed to meet the aims of the ‘Well Society – the main goal being a majority stake in the club. We have been given until the end of November to reach the £800,000 mark, with the total being just over £420,000 at the end of April.

There are effectively three scenarios that will unfold from now onwards.

(1) We do not raise enough money and the club raises cash from external sources.

This could be soft loans from Motherwell-minded business people who are open to the idea of community ownership. We know the club retains the goal of fan-ownership as its priority and would seek to raise money under those terms. However, there is a possibility that the club could be forced to sell the shares donated by John Boyle to perhaps one individual or group. There are no guarantees that their motives and ideals would be shared by the Motherwell support, or that they could successfully run a football club.

We have already experienced administration and it was fortunate that John Boyle took a financial hit and stayed around to put the club on a level footing and give us the opportunity to own the club. But who knows what could happen if a new owner comes in and gets the club into trouble? There are too many examples of Scottish football clubs suffering financial problems in recent years not to have some concern about the unknown.

(2) Neither the club nor the Well Society raises enough finance and the Motherwell directors are forced to slash the wage bill.

The club statement revealed that Motherwell would be forced into a “very substantial reduction in expenditure plans” if they could not raise capital in the coming season, which would “diminish our competitive capabilities on the field and create a negative financial spiral”. Inevitably, people will lose their jobs and more players will leave, and days like the other Sunday at Pittodrie and European trips will be highly unlikely to recur in the near future. Long term, the club could find itself fighting to maintain our top-flight status.

We know the Motherwell board would do everything they can to avoid that scenario, but again there can be no guarantee of raising sufficient capital from other sources. John Boyle put the club up for sale several years before the ‘Well Society was founded and no suitable buyer emerged. St Mirren are among the best-run clubs in Scotland – a debt-free, top-flight club with a new stadium and training ground – but they have been up for sale for years without attracting an offer that is acceptable to their board. People are not queuing up to invest in Scottish football. As a support, we have possibly been spoiled by the safety net of John Boyle’s personal wealth in recent years. If we can afford to, it is time we took responsibility for our own club rather than taking our eyes of the ball and depending on another white knight to come along.

(3) The Well Society meets a key target set to us by the club of raising £800,000 by the end of November.

We stabilise the club’s finances and in return we would soon afterwards move into position to take majority ownership of the club while continuing to raise funds and increase our membership.

For us to meet the long-term goals, it is imperative that fans come forward urgently to join the Well Society if they have not already done so. We appreciate it is not easy to meet membership fees on a one-off basis but there are flexible opportunities to pay monthly so you can contribute whatever you can afford. We are also urging members to upgrade their memberships – again there are ways to do so gradually. It is now or never to show we can grasp this opportunity.

We are as frustrated as anyone by the lack of significant progress in raising funds. Some complicated issues have held us back – such as last year’s share purchase and the subsequent change of rule over lending the club money and ongoing discussions over renewal fees/benefits – when we should have been focusing on recruiting members and raising cash.

As a board we have had relatively little time to raise enough funds, but we know now that time is running out and we need everyone to pull together to help raise money and support for the ‘Well Society. We will step up our fundraising efforts, re-launch our recruitment plans in the very near future and again try to simplify the model – but anyone can join at any time now.

Another frustration is that we have not been able to engage the business community as much as we would have liked and need to, despite extensive efforts. One of the decisions made at the AGM was the election of Robert Montgomery to the ‘Well Society board, after Sandy Kilpatrick stepped down following 18 months of hard work. Robert will help focus ‘Well Society efforts on attracting business investment.

We know that some fans might be reluctant to hand over money to the society amid uncertainty over whether it will achieve its goals. If we do not achieve majority ownership, our aim is to achieve a significant holding that can give the fans substantial influence in the way the club is run, and offer checks, safeguards and protection should a new majority shareholder come in. So every penny will count.

We will have discussions with the club on the mechanics of this if we do not achieve our main goal, and the decision will also rest in the hands of the members, but the aim of the Well Society board is to become a significant shareholder, even if we fall short of full control. But full control remains the goal to which we must all be committed.

To conclude our message, we make a general appeal to all those who can join the society or contribute more. Few fan bases get such an opportunity to own their club and protect it for future generations, outwith times of crisis, and sometimes times of crisis are too late. If the society does not raise enough funds in the coming months, we may indeed be too late.

If you are a ‘Well Society member, please, please try to persuade more of your friends and family to join, or upgrade your membership, if you can. If you are not a member, please join now. Otherwise this once-in-a-lifetime opportunity to secure majority ownership for Motherwell fans may be lost forever. And no-one can tell what the consequences will be.

The ‘Well Society board
May 22nd 2014

To join the Well Society click on thewellsociety.co.uk/join-the-society/ or phone Alison on 01698 338006

The Board of Motherwell FC today issued its annual End of Season Financial & Strategic Update.

For the attention of Shareholders, Members of the ’Well Society, Season Ticket Holders and all Motherwell Supporters.

Once again we are delighted to have celebrated an exceptional on-field performance in the league campaign. While results in both cups disappointed and we did not progress in Europe beyond the early stages, we cannot overstate the achievement in reaching the runners-up spot for the second year in a row.

Given the turnover in core first team playing staff, the ability of Stuart McCall and his team to recruit, motivate and reconstruct the first team has been quite exceptional. He has done so while maintaining an excellent culture that is becoming the trademark of our family club.

We now look forward to European competition for the sixth year in the last seven. Once again a remarkable achievement given the economic realities facing our competitive position.

We put on record our sincere thanks to the management and players and all the support staff for the great credit they have brought on both themselves and this club.

Notwithstanding the excellent news on the pitch, the Board would like to draw the focused attention of our shareholders, members and supporters to the financial reality we face off it. In the last few years we have been at pains to ensure that our strategy is clearly understood and that we communicate both our financial performance and prospects with transparency. We did this in the summer of 2012, to allow members to make an informed judgement on the implications of SPL decisions as affecting Rangers FC. We do so again today to allow everyone who cares about Motherwell FC to understand the context of the decisions we have made as a Board and to allow time for individuals to determine their own actions before the Board determines the next set of strategic decisions that we must make.

Strategic Context

Our aim since the launch of The Well Society has been to create a sustainable model for the eventual fan ownership of the majority of the equity in the club. This required good governance structures to be created and function, fit and proper individuals to be nominated that could perform as full Club Directors and financial targets to be reached for the Society, that would provide the Club’s effective “strategic reserve”. From the outset, a figure of £1.5 million has been identified as the required strategic reserve.

This strategy was created purposefully with the objective of stabilising the Club’s financial position on a sustainable footing so that we could maintain the financial strategy that has underpinned the Club’s competitive position which has produced the sporting success we have enjoyed over the last five years and more.

Update on Financial Performance

The following points should be considered in detail:

1. We have made a full year loss in the last two years of just under £600k in 2011/12 and £184k in 2012/13 respectively.

2. For 2013/14 we currently anticipate a loss moderately in excess of five figures for the year.

3. These losses have so far been absorbed by existing cash reserves and then by the ongoing cashflow management of the club in anticipation of future income, underpinned by a number of measures we have outlined below.

4. We have already recorded the reasons for these losses. In particular we have maintained our player budget in the face of falling central revenues and from gate and commercial receipts, as the Board judged the balance of risk to our competitive performance and the financial implications merited this, given all of the information at our disposal and having made reasonable judgements about likely outcomes. The main downside impact on our financial outcomes have been:

• Last year’s (2011/12) in-season recalibration by the SPL of the financial rewards for second place, before our agreed bonus structure for the team could be changed, meant we received no net additional income from finishing second.
• Overall the total pool of distributed funds by the SPFL to top league clubs has been reduced following the decision to pay more to the lower leagues.
• Combined revenue from gate receipts and season tickets has fallen by approximately 10% since season 2010/11 meaning a cumulative loss to the revenue of the club over the subsequent 3 years of £200k. Our home attendances this year have not been as strong as anticipated given the strength of team performance.

5. The governance of the ‘Well Society is working well and we have two Society nominees acting as full and equal club directors.

6. The ‘Well society has recruited 869 adult and business members and accumulated total funds of just under £470k. This is equivalent to 21% of our season ticket holders. In other words when taking account of regular pay at the gate fans we have recruited less than 1 in 5 of our loyal core base to the society.

7. The society holds 6% of the equity in the Club injecting £150k into the club’s balance sheet. In addition the society made available a bridging loan to the club of £230k in February 2014 and retain a further £40k in reserve. The total distributed/distributable sum at the disposal of the Society is therefore just in excess of £420k which is very significantly short of the clear target for the “strategic reserve” of £1.5 million.

8. In the current financial year the Board agreed a short term asset finance loan of £125k which was underpinned by the personal financial guarantees by a number of our Directors. It is our intention to pay this back within the next 3 months.

9. The Club has an outstanding historic loan to Mr John Boyle of just under £350k.

10. The financial position of a number of our competitor clubs has stabilised and improved for a variety of reasons.

Implications for the Financial Position and Future Strategy of the Club

The figure of £1.5m as a strategic reserve was arrived at as a reasonable estimate, based on past experience, of the funds which the Club would require to have at its disposal to fall back on in the event of a series of losses being sustained.

As detailed above, losses have been sustained but the strategic reserve has not been met.

Qualification for Europe has allowed the Board, based on past revenues generated and making reasonable assumptions on income for the coming season, to maintain the playing budget at the same level for season 2014/15.

However, this is the last year in which we will feel able to do this unless a very substantial improvement in our revenue position occurs and/or the targets for the ‘Well Society are reached.

A sustainable step-change in our revenues is not likely to be enjoyed in the short-term unless we enjoy the windfall of unexpected player sales or exceptional Cup performances. Given our experiences in recent years the Board cannot, and has not, planned for either as a central assumption.

This means we must turn our attention to the achievement of our strategic reserve target of £1.5 million as an urgent financial priority for the club.

Achieving our Strategic Reserve Target of £1.5 million

Following repayment of the loan to the Society, the Society’s reserves will sit at approximately £270k after the purchase of equity in the club. As noted above this, when combined with the equity injection amounts to 28% of our target and reflects the reality that fewer than 1 in 5 of our core support has joined the society. The number of 1886 and Claret members is significantly lower than we had hoped.

While not wishing to diminish the simply outstanding work and commitment of so many people to make the Society a reality, this performance to date is disappointing and, to be crystal clear to everyone, does not represent the sustainable financial underpinning for the Club’s strategy that we hoped for and require.

The Board met on the 7th May to consider our current financial performance in the light of our qualification for Europe and anticipating the scenarios we faced the subsequent Sunday in the play-off for second place. The Board agreed unanimously on the course of action we must now take in the interests of the Club:

1. That we should give the Management clarity in the player budget to allow them to secure some stability on the field, as we face European competitive opportunities and an increasingly competitive race for the top six.

2. That an increase in the capital available to the Club is essential and that such a capital injection should be pursued as a matter of urgency. The preferred source of that capital would remain the ‘Well Society, however, other sources of capital investment, including the sale of shares to private individuals have to be explored. A number of our competitor clubs have recently been able to raise significant funding from a small number of fans, further weakening our competitive position.

3. That we should set a deadline for the Society achieving the goals that were set on its launch in November 2011. The next intermediate goal we set was for the society to achieve a reserve of £800k by the end of November 2014 in order to underpin the club’s finances and to prove that reaching the full reserve of £1.5m is achievable in the near future.

4. In the event that this first target is not reached the Board has authorised officers of the Club and its Directors to consider alternative routes to achieve the strategic reserve target that the Club requires. In all circumstances we will do everything we can to ensure that the future fan ownership of the club can become a reality. But we will have to consider all proposals put to us.

We urge all fans of the club to recognise the reality of the financial situation we face and to do anything they can to assist the club urgently.

We recognise that our on the field success and the generally positive culture and atmosphere at the club has meant that there is no perception of “crisis” and therefore no imperative or urgency for many otherwise deeply loyal supporters to join.

While we are not yet at a “crisis” position, we are flagging that we require to take action now to ensure the continued financial stability of the club. This action will either mean a substantial increase in resources towards our reserve or a very substantial reduction in our expenditure plans.

This latter route would have the inevitable impact of diminishing our competitive capabilities on the field and creating a negative financial spiral. The consequences of this latter route are only too familiar to all supporters of the game in Scotland

The Board of Directors continue to believe that the ‘Well Society can achieve its stated aim of raising sufficient capital to acquire and run the club on a sustainable basis. If the target figure of £800k is achieved by November 2014 the plan of fan ownership can be a reality. This can only happen if those who support this aim act now by joining or contributing further to the Society.

We therefore ask all of our shareholders, members and supporters to reflect very closely on what we have set out above and to consider their position carefully. We know how much we have to rely on a very small number of people but we are all in the same position. We urge everyone who shares our love for the Club to act.

The Board of
Motherwell Football Club
21st May 2014