All clubs are looking for the magic scheme which allows money to flow on a guaranteed timetable while allowing the fans to be part owners. Not many have succeeded so far - will the Steelmen crack the problem? Motherwell have been encouraged by the reception to their proposed community ownership scheme which they believe could be a benchmark for Scottish football. Around 300 fans turned up at the public meeting convened by the club last night to hear the board outline their vision for the future ownership of the club. Motherwell have submitted their scheme to the Financial Services Authority for approval, which will eventually control the majority shareholding donated to the club by former chairman John Boyle. Vice-chairman Derek Weir harbours hopes that as much as £1.5million could be raised through the scheme which would act as a buffer during spells of temporary cash-flow problems. Levels of membership will start at a one-off joining fee of £300, with a £50 annual fee, with the ability to spread payments interest-free, while businesses and wealthy supporters are able to take more expensive packages. Former Motherwell striker James McFadden has agreed to become the society's first member and a patron, with skipper Stephen Craigan the second member, who joked that his former team-mate would pay a £25,000 membership fee. Motherwell chief executive Leeann Dempster was delighted with the "overwhelming positivity and feedback". She said: "Many clubs turn to their fans at a time of weakness, of financial difficulty. We are approaching fans now at a time of strength - on and off the park. Together we can ensure a great future for Motherwell FC. This is a historic opportunity for the club and its supporters to really make a mark for the future. There are too many negatives around Scottish football at this time, but together, the club and fans have a real chance to do something incredibly positive and secure the future of this club for our children and our children's children. Perhaps even point the way forward for the whole of Scottish football."