MOTHERWELL FC today completed a successful transfer to fan ownership to the Well Society after Les Hutchison concluded the takeover agreement with the supporters’ group.
In January 2015 Hutchison paid £1 for his 76% stake in the club to former owner John Boyle. He has now moved the club onto the supporters for the same price.
In a statement released this afternoon the club stated: “Motherwell FC has now transferred into fan ownership.” While a Well Society statement said: “An important element in the agreement is that loan repayments for the first three years will be made from a percentage of player transfer income only.
“This means that the club will not be burdened with loan repayments from regular income during this period but will still benefit from player transfers by receiving a percentage of transfer fee income.
Meanwhile Motherwell boss Mark McGhee insists his side are determined to get back on track after their 3-0 mauling from Caley Thistle in midweek.
The Lanarkshire outfit meet Ross County tomorrow and the Fir Park gaffer said: “I actually think that up until the second-half on Wednesday our form has been good in terms of performances, just results haven’t been.
”My concern is always about performance because you can actually play really well and get beaten, so the performance is the overriding thing.
“The second-half display, certainly in the last half-hour after we conceded the first goal, was poor.
“Now we’ve got another home game against a team who are in the same area as ourselves and they’ll have watched us against Inverness and will perhaps fancy their chances.
“We’re determined to put things right and play well for an entire 90 minutes, which is where we went wrong on Wednesday.
”We’ve got 23 games to get ourselves into the top six!”