Motherwell are not going bust, but need investment, admits CEO

Motherwell CEO Derek Weir denies the club is in a precarious financial position but reiterated that outside investment is needed.

The Well Society is in control of 70 per cent of the fan-owned club, but Weir and chairman Jim McMahon believe that somebody sitting alongside them to provide advice and extra funding could be essential.

But Weir says there is money in the bank and they are on a sound financial footing.

Weir, who stepped up to the role of CEO on a temporary basis when the club couldn’t find a replacement for Alan Burrows, who stepped down and subsequently moved to Aberdeen, is expected to relinquish his position at the end of March.

Motherwell hope a permanent CEO will be in place by then, with Weir saying he will remain in position until that happens.

In a lengthy interview on Motherwell’s YouTube channel, Weir said: “We have cash in the bank. Other than the well-trailed long-term government post-Covid loan, that’s the only debt the club has.

“We will have cash in the bank at the end of this season. That, combined with the cash that the Well Society has will see us forward for I suspect at least another season, probably beyond that.

“We have some other income there, so the club is absolutely not in financial difficulty, that would be the wrong impression.

“But if you look at the cash balance that we had a few years ago on the back of transfers and loans, a significant part of that has been utilised.

“We are getting through the cash that we’ve got and any business have people who sit there and have the ability to put money in.

“Somebody sitting alongside the Well Society, working with them and providing an extra security would be a really good thing for this club.

“If you take the cost base of this club, I