The board of the Well Society is recommending members reject the offer of just under £2m in investment from Erik Barmack because it "drastically undervalues" Motherwell.
The arrangement would commit the Well Society to contributing £200,000, then £250,000 over the same period. Included is a "buy back option" for the Well Society up to the end of year two, "if the arrangement isn’t working as envisaged", while the club could not take on any external debt. The Well Society board, by 6-3 majority, "does not believe the negotiated terms are advantageous to the club".
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