Profits boost at Motherwell
Motherwell Football Club has announced profits of £541,663 for 2010/11 compared to £18,000 the previous year. The club was in administration between 2002 and 2004 but unpleasant though this experience was it seems to have put them on a sounder footing.
The big improvement in financial performance was driven by results on the pitch with the club doing well in both the Scottish Cup and the League Cup. The cup runs helped drive a 36 per cent increase in operating income to £5.9m.
However, the drop in income from transfer fees is a cause for concern. This dropped by 84 per cent from £1.1m in 2009/10 to £184,268 in 2010/11. Costs remained stable, increasing slightly from £5.5m to £5.6m.
Majority shareholder John Boyle is in the process of handing over control of the club to a fan-led group. The Well Society is an industrial and provident enterprise. However, this means that there will be no benefactor cash if new financial problems were encountered.