Since last October, when the society was handed over to the fans by the club, I am happy to report that we have made good progress on a number of fronts.
For example, by
- Electing seven members onto the board, as well as two members onto the club board
- Representing members’ views through email contact, twitter and facebook, as well as organising a range of open meetings, including to discuss league reconstruction proposals
- Developing a new business club level of membership
- Publicising the society in a range and variety of ways, such as stories and updates in local and national newspapers, including the Motherwell Times and Wishaw Press, the Daily Record, The Herald and Scotsman, as well as the BBC and Sky News.
Last year, despite finishing third in the league, the club made an operating loss of over £500k. Despite finishing second in the league this season, the club experienced a much lower than expected income from transfers and gate revenue, as well as having to pay for extra bonuses to management and playing staff.
On top of all that, the SPL has not signed up a new sponsor for next season. All of which means that the club relies on the society for financial support at crucial times of the year.
I am also pleased to report, therefore, that we have assisted the financial position of the club through a share subscription of £150k. This provided a much needed cash injection during the months of March and April to alleviate a temporary shortfall.
Your board and the club board are committed to the society model. We both want the club to continue to be successful through prudent financial management and without any assistance from a bank or a single benefactor or consortium. We both want to achieve fan-ownership of the club sooner rather than later.
So, if we are to achieve our purpose of acquiring a majority shareholding in the club as well as providing a financial safety net, we need urgently to recruit many more members. To do that we need the help and support of current members to persuade their friends and fellow fans to join the revolution and get involved in the work of the society.
I would like to thank all those members who have supported the society and helped in various ways, such as organising events, participating in planning groups, or giving out leaflets, and so on. I would also urge more of you to volunteer and get involved in whatever way you can.
Finally, I look forward to celebrating with you the club’s success in Europe next season!
Well Society Chairman