Chief Executive Leeann Dempster has written to Motherwell fans this week detailing the latest news with the ‘Well Society.
We can now offer you the unique opportunity to be part of owning Scotland’s community and family club. Our retiring Chairman has passed on his shares in the club and our new ownership model has been approved by the regulator. After 125 years a new chapter in our history begins now.
The response to the idea has been overwhelmingly positive from our fans, the wider community and from the whole of Scotland. We have an optimistic vision for a sustainable and successful club anchored in our community. Please play your part by joining and giving what you can to make this a reality. Please also encourage your family and friends to do the same.
Now that we won’t have the generosity of our owner to fall back on we need to ensure we secure the Club with a base for growth and success. The Board’s financial target for the Club is to create a “financial cushion” of £1.5 million to protect us against cash flow issues and any crisis. We will always be a Club that wants to allow our players to move on to greater opportunities if they can and to put the proceeds to work for the development of the Club. But we don’t want to sell any of our footballing assets unless it suits the Club and the player. Our target will help with that.
We don’t know how much the membership scheme will raise – that is up to you – but we know we need to raise a minimum of £250,000 for it to be a viable proposition and we hope we can do much better and take us some way towards our financial cushion of £1.5m.
The benefits you accrue as a member start immediately and the Society itself will be incorporated when our minimum hurdle is met. Our hope is that an initial two places on the Board can be elected by the summer of 2012 at the latest and more can follow as we prove the model is working. We need people of talent who pass the ‘fit and proper’ test to be a Director of a company and this great club.
This is our moment. We can be part of the rejuvenation of our national game and show the rest of the footballing world the mettle that makes this a very special club. Lanarkshire has never been found wanting when there is work to be done. We have the chance to show positively what can be achieved when people take responsibility and show ambition.
It is our Club, now it can be in every true sense, forever.
Leeann Dempster
Chief Executive
For more information on the Well Society, including membership benefits, rules and membership applications, please CLICK HERE.