Motherwell have released accounts for the year ending May 2024 ahead of the upcoming AGM. A loss of £384k was recorded after depreciation.
In effect, the club made a profit of £326k compared to losses well in excess of £500k in each of the two previous financial periods. This happy turnaround was in large part due to the £1.3m received for the transfer of Kevin van Veen together with player compensation income for Max Johnston and others.
In the Strategic Report club chairman Kyrk Macmillan summarised the overhaul of the executive board. He thanked the outgoing directors and introduced those joining during the year. Brian Caldwell came onboard and alongside the refreshed Well Society leadership the board was reformed with six members.
Income was reduced slightly to £6.2m largely due to the loss of payment from UEFA as there was no European participation in 23/24. Staff costs were also reduced because of a fairly stable playing squad.
Gate receipts, broadcasting and commercial income were broadly similar to the previous year.
More information is likely to emerge from the AGM which will be held in Fir Park on Thursday 27 February.
We may even get a chance to chat with the newly appointed manager, Michael Wimming.