Well Society update

[jwok]

The Society released the following statement on Tuesday evening.


[i]We are doing everything possible to help finalise a deal which would stabilise Motherwell FC’s finances and ultimately hand control of the club to supporters.

The proposed deal is complicated and we are trying to help find a way to satisfy the need to commit ongoing funds from Well Society members and new recruits.

We had an excellent response to our recent plea for help to keep the club in the hands of Motherwell fans and are hopeful we can find a way to bring the discussions to a positive conclusion.

Time is of the essence though.

We hope to be able to be in a position to share all the details with members as soon as possible and will be looking for endorsement for the plans.

At the minute, negotiations are ongoing and have been regularly updating throughout today, so it is difficult to share too much information. We promise to do so when we can, and hopefully very soon.

As we have said before, our aims are f

[Wellup4it]

I think John Boyle should now make a public statement. The bottom line is that he will decide who any future owner is. Does he now want out so quickly that the highest bidder will triumph, irrespective of their plans or motives OR is he still saying that the buyer will need to have the good of the club at heart? Some clarity would be very helpful. It really is his call.

[steviex]

Ah vote for the South American takeover. Im heartly sick fed up of thew poverty line. Even the successful seasons were always subdued by negativity and depression about our finances. Lets take our chances. The fan ownership will see us so handcuffed for finance we will ultimately get relegated at some point with little or no cheer along the way.

The south american consortium might give us some bloody excitement ...sure will probably end in administration in 3 / 4 years. So we get demoted and find ourselves where we are going to end up anyway with the society. We can buy the club then at a fraction of the cost the numerous "soft" loans we need for society ownership now. But hey we might just have had a blast along the way with the consortium bid.

Moan the latinos

[Wellup4it]

This might be of interest. - view external link

[wellowell]

As far as i am aware John Boyle is not taking any money for his shares so whoever takes control pays the money into the club. i am not sure what way to go can their not be a part ownership deal where the well society owns say 51% of club and sell the remaining part although prespective buyer might not like that

[Wellup4it]

As far as i am aware John Boyle is not taking any money for his shares so whoever takes control pays the money into the club. i am not sure what way to go can their not be a part ownership deal where the well society owns say 51% of club and sell the remaining part although prespective buyer might not like that

As far as I'm aware John Boyle will want at least some of his money back, as he's quite entitled to do. If he is not satisfied with the credentials of any prospective buyer he can simply refuse to sell.

At our level any large investor looking to come in will want to ensure that they have by far the majority of the shares. Any other party(ies) holding large amounts of shares could be seen a stumbling block. As as I know John Boyle owns about 70%-80% of the shares.

[Handsome_Devil]

Ah vote for the South American takeover. Im heartly sick fed up of thew poverty line. Even the successful seasons were always subdued by negativity and depression about our finances. Lets take our chances. The fan ownership will see us so handcuffed for finance we will ultimately get relegated at some point with little or no cheer along the way.

The south american consortium might give us some bloody excitement ...sure will probably end in administration in 3 / 4 years. So we get demoted and find ourselves where we are going to end up anyway with the society. We can buy the club then at a fraction of the cost the numerous "soft" loans we need for society ownership now. But hey we might just have had a blast along the way with the consortium bid.

Moan the latinos

That would actually be worth considering if we had any guarantee it would turn out okay in the end - but there's not. If (and frankly in this scenario I suspect we'

[steviex]

Ah vote for the South American takeover. Im heartly sick fed up of thew poverty line. Even the successful seasons were always subdued by negativity and depression about our finances. Lets take our chances. The fan ownership will see us so handcuffed for finance we will ultimately get relegated at some point with little or no cheer along the way.

The south american consortium might give us some bloody excitement ...sure will probably end in administration in 3 / 4 years. So we get demoted and find ourselves where we are going to end up anyway with the society. We can buy the club then at a fraction of the cost the numerous "soft" loans we need for society ownership now. But hey we might just have had a blast along the way with the consortium bid.

Moan the latinos

That would actually be worth considering if we had any guarantee it would turn out okay in the end - but there's

[Wellup4it]

What an odd situation. The future of our club is at stake and very few seem to know what is going on. Those who do are not communicating or are saying very little. Thats acceptable up to a point but not acceptable if you want to raise investment from fans.

Now I appreciate that there are probably confidentiality agreements in place and that will limit what can and cannot be said. But those in the know should be more open and transparent.

John Boyle and His trustees - what is their position? He/they are key to the whole issue and will ultimately decide what happens. They have said nothing so far.

The club - it could clarify the position, as opposed to expressing an opinion, but has said nothing so far.

The Society - it wants our money but has only issued vague statements so far. I do understand though that confidentiality will be an issue.

At the moment I know of quite a few fans who are holding off investing in the Society until they know more of what is actually goin

[jwok]

In fairness to the Society they've released three statements on their website in the last fortnight (30,31 Oct & 11 Nov).

Anyone who took the time to read them should be aware that we are close to a decisive moment about the future direction of the club. Anyone who believes that community/fan ownership is the best way forward needs to show their support before it's too late - by financial means if possible.

Society yesterday,"Appreciate people want more clarity but that's difficult until we have a final proposal that we're able to share. Some elements of potential deal must remain confidential during talks and details quickly change. Given reports/rumours, we just wanted to explain that we still have hope of coming up with a community-based solution. If/when we can come up with a definitive plan, then we will share all details with Well Society members and allow them to make up their minds."

Folk can sign up at the link. - [url=http://www.thewellsociety.co.uk/join-the-society/]vi