In the last three seasons the club has lost around £800,000. And this at a time when we have enjoyed a historic series of high league places. Our gate and season ticket income has fallen 10% since 2010/11 and the commercial distribution from the league has been reduced thanks to enlargement and the lack of a main sponsor. The board had the option of slashing the football budget but it will be maintained for next season.
The statement advises that the Well Society has a total of 869 adult and business members. That remains a disappointment and it is clear that the majority of our core support has not signed up – yet. Over £420,000 is under the Society’s control but that is less than a third of the sum believed to be necessary for a strategic reserve.
The upshot is that more funds have to be raised or the playing budget will be reduced in future seasons. That could bring an increased risk of relegation.
The board has decided that “a capital injection should be pursued as a matter of urgency”. If that can’t be raised by the Society then other sources “including the sale of shares to private individuals” will be explored. A chilling section, to those who have long sought community control of the club, follows, “In all circumstances we will do everything we can to ensure that the future fan ownership of the club can become a reality. But we will have to consider all proposals put to us.”
The message is clear. The club cannot sustain losses year after year and the board has a duty to safeguard the club’s future. If Motherwell supporters and the local community are unable or unwilling to provide funds then the playing budget will suffer and other routes of finance will be investigated.
In the bad old days of the Well Worth Saving campaign fans were (literally) throwing money into buckets. Has our recent on-field success led fans to assume that everything in the financial garden was rosy? This statement makes it clear that e are on a slippery slope and that action is needed. Six months to find £400k is a big, big target for an organisation that has generated only £420k as it signed up the early enthusiast adopters. All Motherwell fans are again faced with the question – can I do more to help my football club?
The full statement is on the official site – here.