Motherwell Football Club - Chairman’s Statement

[islaydarkblue]

That level of fee would cover anything they might get in ST sales, I imagine.

I enclose the Motherwell Football and Athletic Club Limited annual accounts for the year ending 31st May 2020. https://find-and-update.company-info...filing-history
Just click on the line marked Annual Accounts for the ending 31st May 2020.
Their annual accounts are far more extensive than ours.
Motherwell Football Club also have business interruption insurance which is stated in the Events after reporting section at the end of the accounts. Motherwell made a profit of £346,950 but that was only as a result of selling players for a combined total of £1,045,108.
It is stated that the Well Society have handed over a total of £868,000 during the past eight years which is listed as an interest free loan in the annual accounts and repayable on demand.
In the year ending 31st May 2020 the Well Society handed over £140,000 with £120,000 being handed over in the year ending 31st May 2019. The Well Society are the ultimate owner of The Motherwell Football and Athletic Club Limited due to their majority shareholding. l

[islaydarkblue]

The confirmation statement on 17th February 2017tates that the Well Society holds directly or indirectly 75% or more of the shares in the company. https://find-and-update.company-info...filing-history

[hmac]

The confirmation statement on 17th February 2017tates that the Well Society holds directly or indirectly 75% or more of the shares in the company. https://find-and-update.company-info...filing-history

So does 2018, 2019, 2020 and 2021.

They have no external debt other than 50k bounce back loan taken during lockdown, they make profits, they paid back all soft loans to previous owners prior to sale of turnbull and they take pride in stadium repairs and pitch improvements.

They don’t appear to be run like a bowling club!

[BCram]

So does 2018, 2019, 2020 and 2021.

They have no external debt other than 50k bounce back loan taken during lockdown, they make profits, they paid back all soft loans to previous owners prior to sale of turnbull and they take pride in stadium repairs and pitch improvements.

They don’t appear to be run like a bowling club!

Maybe Motherwell should be more of a model to follow than StJ? Funeral teas and conferences might not be the answer?

[hmac]

Maybe Motherwell should be more of a model to follow than StJ? Funeral teas and conferences might not be the answer?

We tried fans ownership at Dens. We weren’t good at it.

[islaydarkblue]

So does 2018, 2019, 2020 and 2021.

They have no external debt other than 50k bounce back loan taken during lockdown, they make profits, they paid back all soft loans to previous owners prior to sale of turnbull and they take pride in stadium repairs and pitch improvements.

They don’t appear to be run like a bowling club!

You will need to get yourself back as the Chief Executive at Dundee Football Club.
Their previous owners also gave interest free loans unlike FPS who charge 1% interest on their loans to Dundee Football Club.

[BCram]

We tried fans ownership at Dens. We weren’t good at it.

I don't know the background but I think we didn't have enough working capital. I think Motherwell owners transferred their shareholding to allow a fan based system for future ownership and management. Think you were involved at the time but I could be way off the mark. Seems to me that those Dens who were involved will have very valuable experience which should be valued just in case FPS want to disinvest. Fan ownership could be an option rather than selling to another investor.

[hmac]

You will need to get yourself back as the Chief Executive at Dundee Football Club.
Their previous owners also gave interest free loans unlike FPS who charge 1% interest on their loans to Dundee Football Club.

Quite happy where I am thanks Islay 😀

On the 1% ......they haven’t got a choice as far as I know. Under US tax laws if they don’t charge interest it’s no longer an arms length loan but instead equity as far as tax authorities go. There are many rules on “inter company” loans and transfer pricing there.

[hmac]

I don't know the background but I think we didn't have enough working capital. I think Motherwell owners transferred their shareholding to allow a fan based system for future ownership and management. Think you were involved at the time but I could be way off the mark. Seems to me that those Dens who were involved will have very valuable experience which should be valued just in case FPS want to disinvest. Fan ownership could be an option rather than selling to another investor.

I survived/suffered about 5/6 months of fan owned Dundee FC. Some of those involved had the very best interests of the Club in their hearts, some should not even be allowed into Dens to watch a game of football ever again. And for some others the power trip of the hi-vis vest was just too much!

[BCram]

I survived/suffered about 5/6 months of fan owned Dundee FC. Some of those involved had the very best interests of the Club in their hearts, some should not even be allowed into Dens to watch a game of football ever again. And for some others the power trip of the hi-vis vest was just too much!

this may be good news. It sounds as though you believe that some of the difficulties we encountered were self inflicted. Not in any way wanting to start a very old blame game argument, but perhaps we could find the right people to step up, if the need ever arises.

That's probably a bit positive, maybe just need to ensure that we don't make the same appointments as last time in the mistaken home that lessons will have been learnt and the mistakes from the past will not be repeated.