The scheme will allow adults and youths within the Lanarkshire community to take the first steps in emulating Busby by providing them with free coaching education.
Related ArticlesSport on televisionMotherwell will 'play fair'Rooney thriving under pressureWenger: United tactics worse than divingFerguson insulted by squad questionsAll profits generated from this weekend's game will be invested into the scholarship.
Motherwell, meanwhile, have completed the loan signing of Charlton's former France Under-21 captain Yassin Moutaouakil.
The 23-year-old right-back moves to Fir Park on an initial six-month deal.
Moutaouakil joined Charlton just over two years ago, reportedly fighting off interest from the likes of Barcelona, Lazio, Everton, Aston Villa and Celtic.
But he failed to hold down a first-team place at The Valley and, following a trial at Portsmouth, has been allowed to move on.
Motherwell manager Jim Gannon told his club's official website: "He's had a frustrating couple of seasons and hasn't played as much as he would like and he needs now to get out and play and, if you like, showcase his talents.
"I think this is a fantastic opportunity for him to come to Motherwell and the SPL and, at the same time, brilliant for us to have such a talented player in our squad.
"He's the type of player who will give us an attacking option from full-back and our expansive style will suit him. Typical of French players, he's technically good, a great athlete with great pace.
"He'll also give us more depth and the additional security of having more players in the pool."