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And now there are concerns over the numbers in the Barmack family’s business plan, which the society says questions the “viability of the investment offer” and “credibility of the process”.
The Wild Sheep document, which was not completed in time to be included in the voting pack members will have access to, details how they believe they can “usher in a new era of prosperity”.
The US-based couple say they are in talks with “a few potential investors” with backgrounds in sports and media and suggest they are also tapping into the “market of celebrities and influencers”.
But further questions have been raised about potential debt Motherwell could incur, with projected year-one initiatives estimated to cost over £1m after Wild Sheep have invested just £300,000.
By the end of year three, those costs – which include “predictive AI for marketing” and introducing a Motherwell app aimed at drawing 50,000 downloads – spike to almost £4m following a £900,000 outlay from the Barmacks.
The Well Society released their own plan three days earlier, promising a “revitalised and more influential” approach to fan ownership.
The group have faced some criticism since becoming the club’s majority shareholder in 2016 for lacking ambition and direction, but a “refreshed” board has pledged to be “more open, transparent and accountable”.
They also remain open to new investment, providing any interest parties “accurately value the club, safeguard fan-ownership and ensure sustainable financial stability in the long term”.
“This is a real chance to do something special,” were the words of Motherwell chairman Jim McMahon when the Well Society became the club’s majority shareholder in 2016.
McMahon is now attempting to encourage others to back the Barmacks in a statement that initially spelled their name incorrectly four times, published more than an hour after voting opened on Monday morning.
The next fortnight will determine whether enough society members agree with the outgoing chairman, or side with his predecessor Brian McCafferty, who argues the proposal is “major risk” to the financial future of Motherwell.
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