Motherwell recorded a loss of £1M in the year ended May 2022 as 'free' season tickets and a major pitch investment are reflected in the figures.
The annual accounts have been released to shareholders a week ahead of the 117th AGM. The balance sheet "continues to reflect a Club on a sound financial footing" according to the directors' strategic review.
Comparison with the previous season (£3.75M profit) is difficult as the Covid complications hit attendance and delivered government grants and loans. The club honoured the pledge to 20/21 season ticket holders by providing free access to the 21/22 matches.
In May 2022 the club had cash assets of over £4M and was able to invest £1.2M in the new hybrid pitch. Staff costs grew by £540K to £5.2M reflecting the increase in squad size in the second half of last season.
The report states that "While the Club’s financial position is healthy in the short term the Club is acutely aware of the challenges it faces both in terms of operating in the current economic climate and running as a fan owned club in an increasingly competitive and owner financed top flight."
The main uncertainties to the future well being of the club remain as; first team performance, broadcast income and match day attendance.
"The Board are confident that the Club's existing resources and financial support available from The Well Society will provide sufficient headroom to meet the forecast cash requirements."
The AGM is scheduled for Tuesday (24th) evening at Fir Park.