Erik and Courtney Barmack have withdrawn their offer of investment in Motherwell, citing fears over the proposal creating "significant divisions within the fanbase".
However, the board of the Fir Park club had endorsed working with the former Netflix vice-president and his wife, a Snap Inc senior executive.In a statement, Motherwell said: "Erik Barmack has had further discussions with the club board over the weekend. As a result, Erik has decided to withdraw his offer of investment into Motherwell FC.
"Erik's intention from the outset has been to play a part in moving the club forward. That can only be achieved with a unified fanbase. The Well Society have a 71% stake in the Scottish Premiership club, which would have fallen to 50.1% under the proposal.
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