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The Well Society

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17 hours ago, Busta Nut said:

We aren't "owners".

We make donations.

Who owns the Society?

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Good question.

I honestly don't know.

8 hours ago, Al B said:

 

People who think they part-own the club in any sort of issue-specific way, are ones for the watching

This is it. Reminds me of John Brown demanding to see the deeds or whatever he was shouting.

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You mean to tell me I pay a tenner a month and don't own a football club?! 

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12 hours ago, Al B said:

People who think they part-own the club in any sort of issue-specific way, are ones for the watching

Although, if they are Society members, they are perfectly entitled to raise a specific issue and have it dicsussed and addressed if they garner sufficient support. 

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I’ve got 20 shares so presumably I own the club, any questions?

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From The Well Society website link - Your Questions Answered.

The Basics

What is the Well Society?
The Well Society is Motherwell Football Club’s fan ownership group,

(of course what ownership means is a longer discussion)

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8 hours ago, GazzyB said:

You mean to tell me I pay a tenner a month and don't own a football club?! 

A few years ago that's what it cost Craig Whyte to buy Rangers, just the one monthly payment so i think you are being done

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The Society owns the controlling shareholding in the club.

The Society is it's members.

It's not complicated.

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3 hours ago, steelboy said:

The Society owns the controlling shareholding in the club.

The Society is it's members.

It's not complicated.

IIRC, at the moment, the members of the society vote members onto the society board, who in turn select members onto the Motherwell board but do not have enough members on the Motherwell board to dictate the overall direction the board takes without support from other board members.

I believe this is the correct way as short term knee jerk reactions could put the long term intrests of the club in jeopardy.  

The society board members who vote against the wishes of the membership know that they would be doing so with a chance that they would lose their position the next season, so would do so reluctantly but anyone who votes to please other members to keep their position ahead of the betterment of the club is the wrong person for the job in my view.

 

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Does anyone have any details of the proposed foreign currency collection, tried to participate previously but there was no evidence of it, it seems to be getting pushed again?

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20 hours ago, ropy said:

Does anyone have any details of the proposed foreign currency collection, tried to participate previously but there was no evidence of it, it seems to be getting pushed again?

I take it they cancelled this again?

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Great news about paying off Boyle and Hutchinson. And all without selling Turnbull or getting any money for Cadden.

Credit to Burrows and the rest of the directors.

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This really is great news and will allow us to develop further as a club. First step will be to salt away some cash reserves for the inevitable bad times in the future.  Well done to all concerned not least the contributing members. 

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Great news . Be good to here from society/boards re priorities going forward now that the debt is cleared . Credit to everyone involved from board to supporters . Shows what can be done with effort and commitment. 

Its a good feeling to know the club is sustainable for the medium to long term . 

Also a lot of credit goes to John Boyle and Les Hutchinson for making the whole project achievable by giving us generous payback terms 

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4 hours ago, steelboy said:

Credit to Burrows

We are third in the league and all of a sudden Alan Burrows isn't getting slaughtered on here at every opportunity...

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I would still be looking for the Society to be building up a fund that the club can borrow from in the lean times rather than it just all being passed into general spending 

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Richard Gordon says he has an interview with Les with a different viewpoint from the club 

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Basically saying we were weeks from admin when he became involved.

The rest was common knowledge about matched funding etc.

Finally, he stressed that the fans need to keep (financially) supporting the club.

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What was Leanne Dempster doing if we were "Weeks from admin"?

I know our wage structure was a shambles, but FFS.

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45 minutes ago, Richie said:

What was Leanne Dempster doing if we were "Weeks from admin"?

I know our wage structure was a shambles, but FFS.

Trying to dig us out the financial black hole that Boyle and the Board put us in. While I credit JB for doing the right thing by the club when it came to servicing his loans, it was his spending and mismanagement that almost put us out of business in the first place.

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I very much doubt it was Hutchison who approached Motherwell, much more likely the other way round. 

 

Whoever it was that came up with the idea is very much an unsung hero. 

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2 minutes ago, GazzyB said:

I very much doubt it was Hutchison who approached Motherwell, much more likely the other way round. 

 

Whoever it was that came up with the idea is very much an unsung hero. 

Wasn't it Hutchinson's daughter that suggested it to him?

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3 hours ago, ropy said:

Richard Gordon says he has an interview with Les with a different viewpoint from the club 

I think Les would like and hugely deserves recognition for the contribution he has made to the club and helping make fan ownership possible.

His main point was that over the period he was involved we lost a significant amount of money and we had to invest in our facilities. So being "debt free" now isn't any indicator of future financial stability. The Society need to keep trying to add members and raise money to have cash on hand when we need it in future.

 

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