Motherwell FC reports a loss of 600k
Shareholders who attend the club's AGM in a fortnight will hear that Motherwell FC made a loss close to £600k last season. Despite our third place finish, our inability to sell a player combined with poor cup income led to a poor financial performance.
As the commentary in the Director’s Report points out, the profit from the previous season 2010/11 means that we are close to breakeven in the last couple of years.
Following our success in both domestic cup competitions (and 3 rounds in the Europa League) in 2010/11 the club opted to maintain expenditure in the playing squad at the same level. However, our turnover dropped by £1.5M and the result was a loss of £600,000.
The club remains without bank debt, a situation that few of our competitors enjoy but it’s obvious that some action has to be taken to ensure that the loss suffered last season does not become a regular occurrence. “A full review of all costs is underway”.
The report also notes that “we have suffered from a large reduction in total away support” and encourages us to do what we can to increase the attendance figures and to add to the membership of the Well Society.
More details will emarge at the AGM which will be held at Fir Park on Wednesday 13 February.
A summary of the financial statement from last year is available here.
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