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Motherwell Football Club posted a record profit of £3,575,615 in the year ending 31 May 2021.

This figure is a significant lift on the £435,970 profit recorded in 2020, with a total increase of £3,139,645.

Included in the figure is a £1,518,471 accounting profit attributed to a Scottish Government interest-free loan, which is further detailed in the financial review below.

The financial year in review by our chairman, Jim McMahon

The financial results for the 2020/21 season are difficult to compare and contrast to earlier years.

But despite the financial challenges created by Covid-19, I can report that the profit for the financial year is a club record £3,575,615.

The pandemic caused a major reduction in our operating income. For example, revenue in the prior year included £1.35m of gate receipts. With matches being played behind closed doors, no such income was generated in 2020/21.

The restrictions also reduced our commercial income by almost £350,000. There were various other smaller reductions in funding from the football bodies, who had front-loaded awards at the start of the pandemic.

The club had put measures in place to reduce the impact of the pandemic on its finances. These were very successful and resulted in £4.1m of Other Operating Income being recorded in the financial year. This includes monies from the HMRC Job Retention (furlough) scheme, a business interruption insurance claim and an SPFL Trust Covid-19 grant.

We also borrowed £2,959,000 from the Scottish Government to further strengthen our position should the pandemic, and the associated restriction to our normal trading conditions, continue for an extended period. The borrowings are to be repaid between September 2022 and August 2042 and are unsecured and interest-free.

Accounting standards require such debt transactions to reflect normal commercial arrangements, i.e., the interest rate an arms-length lender could be expected to charge on an unsecured 20-year loan. Therefore, the financial results recognise the “benefit” of having such a loan interest-free. The total of that computed over the loan’s full term is shown as a credit to Other Operating Income in year one of the borrowing. This has been calculated at £1.518m. This amount will subsequently be charged as a finance cost in the club’s future financial results spread over the total period of the borrowing.

The biggest factor in the profit for the financial year is generated in player registration gains, made up almost entirely of our initial fee from Celtic for David Turnbull. That transfer deal, a total that will most probably end as being at least double our previous record sale, also contains several add-ons, one of which has already been achieved during the 2021/22 season. It also includes the opportunity to retain future economic rights, should the player’s career continue to blossom.

Over the last five financial years, the player registration gains generated by the club have been £6.2m. Whilst player registration gains are not incorporated within the club’s operating revenue, they form an integral part of the financial results and strategy, and influence budget decisions such as setting the staff budget. The two-pronged approach of generating income through player recruitment and development, together with academy promotion, will continue to form the spine of our model for the future.

At the end of the financial year at 31 May 2021, and despite all the challenges created by the pandemic, the balance sheet shows we are in a strong financial position with significant net assets and over £4m of bank funds.

This backdrop enabled us to reward and acknowledge the loyalty and support of our fans throughout the pandemic. We were able to renew season tickets to existing season ticket holders free of charge. We froze gate prices for non-season ticket holders at pre-pandemic levels, including juvenile entry at £3. And in conjunction with our fans, we provided free gate entry to those otherwise unable to afford to attend games due to unemployment and/or low income. As a result, our season ticket numbers sit at nearly 5,600, our highest ever total, and an improvement of 50% on the Covid-19 impacted 2020/21 total.

The club’s financial position is healthy in the short to medium term. But we are acutely aware of the potential threats we face. We hope that this is the final spin of the Covid-19 roulette wheel, but it would be imprudent to plan solely on that basis.

We continue to examine new ways of generating additional revenue streams and look at ways to streamline costs and make the club more efficient. This needs to be done whilst remaining competitive in what is probably the most challenging top league in Scotland for the last two decades. It is not an easy balance to get right, but it is essential that we do.

The club only works properly and with a chance of success when all the component parts – fans, owners, playing and coaching staff, the management team and the Board – work in unison. They have, and I give my thanks to everyone for making that happen during 2020/21.

Jim McMahon
Chairman

The 116th annual general meeting of the club will be held on Monday 21 February 2022.

We anticipate the meeting will be held in person, but if for any reason Covid-19 restrictions are tightened between now and the 21st, we will revert to an online Zoom meeting.

Any shareholder who would wish to receive either a printed or emailed copy of the audited accounts should email accounts@motherwellfc.co.uk before the close of business on 15 February 2022.

The world of workplace wellbeing has been turned on its head over the past two years – with the importance of a happy and healthy workforce becoming ever more apparent in light of the individual and business struggles we’ve all experienced.

Because it’s not just team members who benefit from a focus on physical, mental, financial and emotional health: their employers also stand to benefit from implementing an effective workplace wellbeing strategy.

Here, the team from Paycare – proud sponsors of Motherwell Football Club – share their expert insights, having supported employee health and wellbeing since 1874.

Healthy employees take less time off sick

Sickness leave has been reduced to 3.6 days on average per employee per year – with carefully thought out policies that promote early detection and intervention of illnesses, meaningful support for those with long-term conditions, and assistance in the case of injury having the potential to improve employee health further.

Introducing mental health assistance alone sees sickness absence fall in a third of companies. This is far more preferable than the alternative: creating a culture where employees feel they must come to work even if they are unwell.

While on the surface this approach may look to be beneficial for the company in question, presenteeism has an even more damaging impact when it comes to business revenue: costing the UK economy £15.1 billion each year.

Increased productivity and loyalty

In workplaces where mental health is addressed, productivity rises by 12%, and more than half of companies report increased engagement and morale. Beyond these gains, the financial impact is clear: for every £1 a company invests in employee mental health, they can expect a £5 return through reduced absence, presenteeism, and staff turnover. Meanwhile, industries like entertainment have also seen shifts, particularly with the rise in digital engagement options, such as an expansive online casinos list, that provide mental escape and relaxation, which is increasingly relevant in discussions on workplace wellness and mental health solutions.

Companies not yet realising the importance of workplace wellbeing are not only losing good employees to other firms, one in every eight people leaving the labour market does so because of ill health. Those dismissing the importance of healthcare perks might also find themselves missing out on top applicants – a third consider wellbeing benefits as a top priority when considering whether to accept a job offer.

What should a Wellbeing Strategy include?

To prove truly impactive, a formalised Wellbeing Strategy should be implemented to ensure consistency of offering across the business and ease of communication about perks and benefits to existing and potential staff, as well as external stakeholders and clients.

A Wellbeing Strategy should protect the emotional, mental, physical and financial wellbeing of every team member. Naturally, employees should be supported through any specific problems which arise. Still, the strategy should also focus on preventing issues and making health and wellness a priority at all times, not just when a specific team member is experiencing a problem.

As well as covering specific benefits available, the strategy should also focus on the company’s flexible working policy, who employees can approach for support, and whether adjustments can be made in light of long-term conditions.

The bottom line

A well-thought-out strategy offering effective benefits focused around all aspects of employee health – physical, emotional, mental, and financial – has been shown to reduce absenteeism, presenteeism, and absence leave, while simultaneously increasing loyalty, staff retention, and productivity.

An investment in staff wellbeing isn’t just good for individuals. It’s good for business – and it needn’t be a huge investment, as Paycare has proved with its Bundle package.

For just £2 per employee per month, Bundle members have access to three core wellbeing services: round-the-clock virtual access to a GP, confidential telephone support and counselling, and discounts on everything from utilities and sports gear to holidays and days out.

Visit paycare.org/wellbeing-bundle for more information.

Graham Alexander has signed a new contract.

The Motherwell manager has put pen to paper on a deal that will keep him at Fir Park until at least 2025.

“I’m delighted to sign a new contract here at Motherwell and continue the progress we have all made in the last 12 months,” Alexander said.

“Chris and I have received nothing but great support from everyone connected with the club, which has certainly helped us concentrate on our work.

“I have a brilliant relationship with the people I work with every day, and the environment that we’re allowed to develop here to produce results is particularly rewarding.

“I also want to thank the chairman and the board for showing the faith in us from day one to be a success in this role.

“We know we have much more to achieve here. We will strive to work as hard as ever to serve Motherwell in the best way.”

Appointed on 7 January 2021, the former Scotland international has presided over the transformation of the playing squad.

The team’s Premiership points tally of 59 in the 2021 calendar year was the third-highest in the top flight, with the club also currently occupying fourth spot.

Alexander statistically ranks near the top of the modern-day Motherwell bosses with a win percentage of 47.8% and a league points per game record of 1.55.

He is also the first manager outside of Celtic and Rangers to win three Premiership Manager of the Month awards in a calendar year, with only Neil Lennon (four), Steven Gerrard, Alex McLeish, Brendan Rodgers and Gordon Strachan (three) for company.

“We have been absolutely delighted with Graham’s contribution since joining our club 12 months ago and we are excited about what he is trying to build with us,” Motherwell chairman Jim McMahon added.

“He is talented, hard-working, dedicated and fully buys into the multifaceted role at Motherwell.

“The board will continue to back him to help us achieve our goals both on and off the pitch.”

Lauded as one of the best football pitches in the country, our Fir Park surface takes an incredible amount of skill and effort to keep in top condition.

The winter months add a particularly difficult challenge to keep on top of things, and ensure the team have the best possible surface to play on.

Our head groundsman Paul Matthew talks us through the state of the pitch at present, and the work that goes in during the league’s winter break.

A decision on whether to continue with our next cinch Premiership matches is expected to be made by the SPFL board on Wednesday.

Until then, the club is putting plans in place for a potential ballot of season ticket holders to accommodate 500 fans at our Boxing Day game with Livingston.

Once a decision has been reached by the SPFL board, we will communicate it immediately.

If the decision is taken to continue with games in front of a restricted crowd of 500, ballot information will be immediately emailed to season ticket holders.

The decision of the Scottish Government on Tuesday to restrict numbers due to the Covid-19 pandemic means our next fixture at Fir Park will be played with limited fans, should the SPFL board agree to proceed with games.

Our forthcoming away matches at Ross County and St Mirren will also be affected.

Get your hands on a limited edition bottle of Motherwell FC branded gin.

In association with the Loch Lomond Group, the special bottles are available to buy now for just £30.

Get yours online now and then collect at Fir Park.

Our limited edition run is for just 200 bottles, so get in quick to get yours.

The Motherwell FC limited edition gin is a London Dry Gin style with a berry sweetness from blackcurrants and rowanberries used from the Trossachs.

Blended beautifully this gin is vibrant and crisp, offers a smooth, fresh flavour which finishes with a delicate berry sweetness.

It’s been a good month in ML1.

It started with the arrival of new signing Ross Tierney, who will officially move from Bohemians in January.

The talented young Irish midfielder paid a visit to Fir Park for his medical and to familiarise himself with his new surroundings, meeting his new team-mates and manager ahead of his big switch.

On the park, a win over Dundee United then came with a trip to face Hibernian at Easter Road, where another strong result was gained.

Another positive from the Edinburgh journey was the first league start of youth academy graduate Dean Cornelius.

A Motherwell fan through and through, his inclusion in the midfielder completed his journey from the stands to the starting team.

Sondre Solholm has quickly established himself as a cult hero since his arrival from Norway in the summer.

We took the larger-than-life character out in his local surroundings, finding out about his upbringing, his attitude on life and his family ties which also make him eligible to play for the Canadian national team.

It is with regret that we have learned of the death of former player Willie McSeveney.

Captain of the famous Ancell Babes era, the versatile club great passed away this week at the age of 92.

Starting at Wishaw Juniors, Willie was signed by Motherwell manager George Stevenson for £1,200 in March 1954 from Dunfermline, after he had made such an impression in a Motherwell 5-2 victory over Dunfermline in a Scottish Cup game a month prior.

He would make an immediate impact for the ‘Well in Division B, scoring four goals in his first four games in claret and amber. His debut goal against Third Lanark saw the team clinch promotion.

Little over a year later, he would be in the side which would face Hearts in the 1954 League Cup final. In front of over 55,000 at Hampden, Hearts, unfortunately, ran out 4-2 winners. He would also feature for the club in two Scottish Cup semi-finals, where Clyde and Rangers were the victors.

Fans of a certain vintage will recall his standout performance in the floodlight friendly with Brazilian giants Flamengo in 1960, when Motherwell incredibly won 9-2 against a team featuring Gerson, who went on to win the World Cup with Brazil 10 years later.

His final first-team appearance would come in October 1962 at Tynecastle but he was on the playing books until the end of the 1963/64 campaign, spending his time mainly in the reserves and using his experience to help improve the club’s younger players. He would also stay on to coach the reserve side thereafter, helping to bring through Joe Wark, Keith MacRae and Peter McCloy among others.

Across 10 seasons at Fir Park, he would make 256 appearances, scoring 28 times. Our thoughts are with his family and friends.

We are looking for volunteers to assist with the delivery of small hampers to local people who may find themselves alone this Christmas.

Our Community Trust, in conjunction with the club, The Well Society and the SPFL Trust, is working to provide festive hampers filled with an afternoon tea package and small gifts to 50 local residents.

Social distancing, sanitising and all COVID procedures will be strictly adhered to.

Please email community@motherwellfc.co.uk if you are interested in helping.

Volume one of the Motherwell Football Collectables book is available to buy now.

A must-have for all ‘Well fans, you can buy yours today from our club shop.

The book tells an excellent potted history of the club through the prism of collectable items. Given the many varied and proud moments to remember, that’s no mean feat, but this chunky compendium achieves it brilliantly.

You’ll take a journey through time as you read through the pages, from the club’s formation to the present day, thanks to the exhaustive work of author Matthew Johnstone.