New Well Society Board sets out growth strategy for both the Society and Motherwell FC
- Well Society Board pledges a ‘fresh start for fan-ownership’ in growth strategy for both the fan-ownership group and football club.
- Well Society Board launches ‘Our Club, Our Future: Our plan for growth for Motherwell Football Club and The Well Society’.
- Plan has been endorsed by former Motherwell chairman Brian McCafferty, amongst others.
The Well Society, the majority shareholder of Scotland’s first top-flight fan-owned football club, has today (2 July 2024), pledged “a fresh start for fan-ownership” as it unveils its plan for growth, strategic investment, and a new fan-engagement model at Motherwell FC.
The plans, developed by a refreshed Well Society Board following elections in October 2023, are contained in ‘Our Club, Our Future: Our plan for growth for Motherwell Football Club and The Well Society’. The detailed prospectus, sent today to Well Society members and available online, sets out an ambitious future, a renewed take on seeking investment, and a new approach to fan engagement.
Following a period of significant calls for increased transparency and fan voice at the football club, a refreshed Well Society Board was elected in October 2023. The Society Board moved with purpose, hosting a series of fan engagement workshops on topics including governance, membership, events and communications. Building on fan priorities, the Society Board established operating priorities and a series of workstreams, supported by ‘Well supporting professionals working in finance, business, governance, engagement and communications.
A FRESH START FOR FAN-OWNERSHIP
With a fresh focus on growth, strategic investment, and commercial partnerships, the refreshed Well Society Board conducted a review of best practice from fan-ownership models including Exeter City Football Club, where the club has successfully engaged local investors through community share schemes, as well as AFC Wimbledon, Portsmouth FC, and FC United of Manchester.
Developing its fan-focused approach to sustainable investment, the Well Society Board has been backed by a series of business leaders, including fintech strategist David Cullinan, multi-business CEO Kyrk McMillan, former Paycare Chief Executive Kevin Rodgers, and US-based football business consultant Gus McNab, amongst others.
The plans, in development since the beginning of the year, take four strands:
- A new vision for Motherwell Football Club
- A new approach to investment, focused on local partnerships and strategic investment
- A new strategy for growth of the Well Society
- The identification of further opportunities around season tickets, the women’s team, and off-pitch revenue growth
The Well Society has already invested more than £2m as a direct result of the fan-ownership model and now believes the time is right to further develop that model. It is understood that the strategy’s development was expedited to ensure that Society members were given sight of it before a forthcoming ballot on Wild Sheep Sports investment proposals. The ballot commences on 8 July for a fortnight, with the Well Society having already set out its reasoning behind its recommendation to reject the proposal.
As part of the strategy, the Well Society Board has outlined plans for new Strategic Investment Partnerships. The plans would see links with new potential partners who share a vision of enhancing Motherwell Football Club through sustained financial backing and valuable expertise. Strategic Investment Partnerships would seek broader objectives, and be focused on funding strategic projects such as developing new facilities at Fir Park or upgrading the training ground. These improvements would not only enhance operational capabilities, but would support additional revenue streams.
New purpose driven commercial partnerships are also a feature of the Well Society Board’s plans for growth. The Society, noting the opportunity to strengthen the Football Club’s commercial operations, in line with the arrival of new Chief Executive Brian Caldwell, revealed ongoing discussions with a series of new commercial partners.
The Society has also undertaken detailed fanbase modelling, including the significant opportunities to grow Well Society membership and contributions. Doing so could deliver a net increase of 2,700 contributors per month. Additional modelling highlights significant potential to drive club season ticket revenue, beyond the 2% of residents in Motherwell, Wishaw and Carluke, and beyond the less than 1% in neighbouring 25 towns and villages.
Finally, in addition to a new, more open and transparent governance framework, the ‘Our Club, Our Future’ strategy outlines a fresh approach to fan voice, engagement and communication, while maintaining the Society’s baseline position as a financial safety net for the football club.