The Well Society held its first AGM since taking ownership of Motherwell FC at Fir Park on Thursday evening. The formalities were soon completed and a Q&A session followed.
Chairman Douglas Dickie got proceedings going with some wide ranging remarks about the recent work of the Society. He referred to the improvements in communication with members by means of the updated website, regular newsletters, board meeting reports, monthly surgeries and a regular presence in the stands on match-days.
Work on updating members' data has progressed to such an extent that it was expected personalised mailshots could be sent in the coming weeks both to convey thanks for support and to encourage further contributions. A revised package of benefits would soon be revealed.
Current income is around £10/11k per month and with the generous 'Double your Money' scheme in operation for the whole of 2017 there is an obvious need to maximise donations. For every pound raised Les Hutchison will reduce our debt by a corresponding amount. The three year agreement concluded last October requires that repayments of his loan (and the smaller amount due to John Boyle) need come only from a percentage of any player sales. Thereafter another negotiation is likely. In total the Society has raised £650k and that is used to support the club.
Douglas referred to the financial backing available to our competitors and reminded the thirty or so in the audience that we are the backers of Motherwell. The manager is completely familiar with the clubs finances and his plans are tailored to be consistent with the resources at his disposal.
Tom Feely delivered his accounts and answered a few technical questions. He made it clear that any sale of players would be determined by the Club/Society board and that we would seek a proper valuation.
He indicated that fewer than 800 members made regular contributions and that efforts would be made to encourage more of the 2,000 currently on the books to sign up.
Alan Burrows chipped in with an explanation of the club's position on the SFA's Project Brave. He is hopeful that we will meet their criteria but indicated that some creative thinking would be needed if we are to continue to develop youngsters from our community.
The meeting concluded after an hour.