Motherwell reach agreement with US-based family regarding investment; club released an appeal in bid to secure funding; Motherwell's executive board will now work on formalising legal framework to take forward to shareholder vote, with investor keen to work in partnership with Well Society
Wednesday 3 April 2024 15:20, UK
Motherwell have reached an agreement with a US-based investor.
The Fir Park club have confirmed talks with an American family will proceed to the next stage after an agreement on a non-binding Head of Terms.
The Steelmen had been searching for external investment and recently released a mock Hollywood appeal as they urged A-list celebrities like Taylor Swift to provide funding like Ryan Reynolds and Rob McElhenney did for Wrexham in the English Football League.
Motherwell's executive board will now work on formalising a legal framework to take forward to a shareholder vote with the investor keen to work in partnership with the Well Society as part of the deal.
A club statement read: "The Executive Board of the Club would like to confirm that investment discussions with a US-based family have reached the point where both parties wish to move forward to the next stage and have therefore entered into an agreement on a non-binding Heads of Terms.
"Both parties will now work on formalising these into a legal framework which can be put to a shareholders vote.
"The investor has expressed his desire to work in partnership with the Well Society.
"The process of formalising the Heads of Terms is likely to take around six weeks and we will keep you updated on progress."
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