Motherwell AGM 113 Report

Last updated : 17 December 2018 By Firparkcorner

Motherwell FC held its 113th Annual General Meeting at Fir Park on Monday.  With the best financial results in the club's history under discussion the shareholders were in confident mood.

The board was joined by more than 60 of an audience as club chairman Jim McMahon outlined the happy circumstances that had delivered the bumper boost to the coffers.

He was clearly delighted to be able to report a £1.72m profit on the year, an event that he felt was unlikely to be repeated.  He explained that it required every aspect of the club to be in perfect harmony and a bit of good fortune to produce such strong results. Nevertheless, the board was engaged in a rigorous examination of the club's practices to ensure future sustainability.

When questioned about the modest decrease in debt (£2.2m down to £1.8m) he explained that the flow of funds from the Well Society was listed as debt in the accounts and added that the amount owed to the two previous owners was set fall by the end of the year.  The Society would become the largest creditor.

Some discussion followed concerning the cost of maintaining ageing stadium.  The Hunter stand roof had been replaced and along with pitch enhancements and the new scoreboard there was an increase of £200k to almost £400k.  There will be an ongoing drain on our funds to keep the old ground up to the required specification.  The board continue to keep themselves aware of the possibility of some future move to a new stadium.

Stephen Robinson was happy to discuss football matters and gave some insights into his preparations for the forthcoming transfer window.  He has an eye on several targets and recognised the need for wide players.  He is well aware of what we need. 

Discussions are continuing about a contract extension with David Turnbull.  Asked about the tiring effects of international duties for Alan Campbell and Chris Cadden, the manager explained that the experience was beneficial but it had to be managed.  He gave a report on the slow progress of Craig Tanner and was asked to pass on best wished to Trevor Carson.

The meeting ended leaving time for some informal chat.

AGM112 Report