Well Society REJECT Motherwell investment proposal as they deliver blow to ex Netflix boss Erik Barmack

dailyrecord.co.uk:

The Well Society will reject the proposed investment from ex Netflix chief Erik and wife Courtney Barmack, outlining six reasons why they do "not believe the negotiated terms are advantageous to the club" and urging members to oppose the offer in a ballot next month.The Well Society board, Motherwell's majority shareholder, voted by a 6-3 majority against the proposal and released a statement after the club announced they had entered into a "period of consultation.

A Fir Park statement read: "The club have now entered a period of consultation with Well Society members and Motherwell Football Club shareholders with regards to the proposed investment from Erik and Courtney Barmack, with voting scheduled to commence at the start of next month.

Following on from our last update, we can confirm that the Heads of Terms have now been agreed between all parties and will be distributed to all Well Society members and Motherwell Football Club shareholders in the weeks prior to the vote commencing on July 1 2024."But the Well Society responded immediately with a lengthy and detailed statement.

They said: "We have worked at pace to finalise our position on this offer. We anticipate that we will ballot our members on this over two weeks beginning 1 July, which will then allow the Well Society to reflect members’ views in the club’s anticipated shareholder vote.