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Motherwell Football Club posted a record profit of £3,575,615 in the year ending 31 May 2021.

This figure is a significant lift on the £435,970 profit recorded in 2020, with a total increase of £3,139,645.

Included in the figure is a £1,518,471 accounting profit attributed to a Scottish Government interest-free loan, which is further detailed in the financial review below.

The financial year in review by our chairman, Jim McMahon

The financial results for the 2020/21 season are difficult to compare and contrast to earlier years.

But despite the financial challenges created by Covid-19, I can report that the profit for the financial year is a club record £3,575,615.

The pandemic caused a major reduction in our operating income. For example, revenue in the prior year included £1.35m of gate receipts. With matches being played behind closed doors, no such income was generated in 2020/21.

The restrictions also reduced our commercial income by almost £350,000. There were various other smaller reductions in funding from the football bodies, who had front-loaded awards at the start of the pandemic.

The club had put measures in place to reduce the impact of the pandemic on its finances. These were very successful and resulted in £4.1m of Other Operating Income being recorded in the financial year. This includes monies from the HMRC Job Retention (furlough) scheme, a business interruption insurance claim and an SPFL Trust Covid-19 grant.

We also borrowed £2,959,000 from the Scottish Government to further strengthen our position should the pandemic, and the associated restriction to our normal trading conditions, continue for an extended period. The borrowings are to be repaid between September 2022 and August 2042 and are unsecured and interest-free.

Accounting standards require such debt transactions to reflect normal commercial arrangements, i.e., the interest rate an arms-length lender could be expected to charge on an unsecured 20-year loan. Therefore, the financial results recognise the “benefit” of having such a loan interest-free. The total of that computed over the loan’s full term is shown as a credit to Other Operating Income in year one of the borrowing. This has been calculated at £1.518m. This amount will subsequently be charged as a finance cost in the club’s future financial results spread over the total period of the borrowing.

The biggest factor in the profit for the financial year is generated in player registration gains, made up almost entirely of our initial fee from Celtic for David Turnbull. That transfer deal, a total that will most probably end as being at least double our previous record sale, also contains several add-ons, one of which has already been achieved during the 2021/22 season. It also includes the opportunity to retain future economic rights, should the player’s career continue to blossom.

Over the last five financial years, the player registration gains generated by the club have been £6.2m. Whilst player registration gains are not incorporated within the club’s operating revenue, they form an integral part of the financial results and strategy, and influence budget decisions such as setting the staff budget. The two-pronged approach of generating income through player recruitment and development, together with academy promotion, will continue to form the spine of our model for the future.

At the end of the financial year at 31 May 2021, and despite all the challenges created by the pandemic, the balance sheet shows we are in a strong financial position with significant net assets and over £4m of bank funds.

This backdrop enabled us to reward and acknowledge the loyalty and support of our fans throughout the pandemic. We were able to renew season tickets to existing season ticket holders free of charge. We froze gate prices for non-season ticket holders at pre-pandemic levels, including juvenile entry at £3. And in conjunction with our fans, we provided free gate entry to those otherwise unable to afford to attend games due to unemployment and/or low income. As a result, our season ticket numbers sit at nearly 5,600, our highest ever total, and an improvement of 50% on the Covid-19 impacted 2020/21 total.

The club’s financial position is healthy in the short to medium term. But we are acutely aware of the potential threats we face. We hope that this is the final spin of the Covid-19 roulette wheel, but it would be imprudent to plan solely on that basis.

We continue to examine new ways of generating additional revenue streams and look at ways to streamline costs and make the club more efficient. This needs to be done whilst remaining competitive in what is probably the most challenging top league in Scotland for the last two decades. It is not an easy balance to get right, but it is essential that we do.

The club only works properly and with a chance of success when all the component parts – fans, owners, playing and coaching staff, the management team and the Board – work in unison. They have, and I give my thanks to everyone for making that happen during 2020/21.

Jim McMahon
Chairman

The 116th annual general meeting of the club will be held on Monday 21 February 2022.

We anticipate the meeting will be held in person, but if for any reason Covid-19 restrictions are tightened between now and the 21st, we will revert to an online Zoom meeting.

Any shareholder who would wish to receive either a printed or emailed copy of the audited accounts should email accounts@motherwellfc.co.uk before the close of business on 15 February 2022.

Motherwell pair Ciara Duff and London Pollard have been called up to represent Scotland in a double header against Wales this month. 

Goalkeeper Ciara Duff, who was in the Under 19s squad last month, will once again be looking to impress manager Pauline Hamill and cement a place in her team. 

After netting her first goals for Motherwell last weekend against Spartans, Pollard is also once again selected as she continues her development. 

Scotland face off against Wales on Tuesday 15 February and Friday 18 February.

We go to face Dundee United in the cinch Premiership on Wednesday 9 February.

Kick-off is at 7.45pm.

To buy tickets, you can get yours online now from Dundee United, or from the ticket office at Tannadice until kick-off.

Prices are:

• Adults: £26
• Concessions : £14

Covid restrictions

Due to a change in legislation by the Scottish FA, Covid-19 certification checks will not be in place.

Only venues with over 10,000 in attendance are required to carry out checks.

We advise that all fans take a lateral flow test before travelling to the match, regardless of their vaccination status.

“We’ve got a team here that won’t ever give up and will keep going for the fans.”

Ross Tierney’s stoppage-time equaliser earned Motherwell a deserved share of the spoils in a 1-1 draw at St Mirren.

Alex Gogic’s debut headers 10 minutes from time looked to have won it for the hosts, before Tierney got the goal that ‘Well’s play at least deserved.

Manager Graham Alexander made changes from the side which lost 2-0 at Hearts on Saturday.

Bevis Mugabi returned to the heart of defence as ‘Well changed shape to a 3-4-2-1, with Sean Goss starting and Liam Donnelly back in the starting team after suspension.

At their expense, Ross Tierney and Jordan Roberts dropped to the bench, with Barry Maguire missing out injured.

New recruit Joe Efford made the bench for the first time, as one of five attacking players amongst the substitutes.

A tepid affair saw almost half an hour before either goalkeeper was troubled, but it would be the hosts’ number one who would be called into action.

Alnwick had to be alive first to hold onto a fierce drive from the left by Goss, with Van Veen and Mugabi waiting to pounce on any slip.

Soon after, the midfielder would continue to enjoy his attacking role by sending in a low drive from 20 yards, which the goalkeeper did well to beat away.

A moment of controversy came shortly on its heels. Tait went up with a high foot in the tackle with Donnelly, for which referee Euan Anderson saw no need to punish.

If the first half was light on quality, the start of the second period saw ‘Well ramp things up.

Substitute Tierney had the best opportunity, being denied from just inside the box by the despairing lunge of Shaughnessy, just when it looked like his first goal in claret and amber was certain.

Van Veen would get the next one with 20 minutes to go, burning Dunne for pace down the right before seeing a fierce shot at goal on the angle parried again by Alnwick.

‘Well were on top but had to call Kelly into action twice to make important stops.

First, his claw off the line from Tait’s back post header was remarkable, shortly followed by a brilliant tip over the bar from Flynn’s drive from distance.

From that corner, however, the visitors would become unstuck.

A ball from the right was met by Gogic on his debut, with the midfielder glancing his header in off the left-hand post.

‘Well could have crumbled but instead rallied. And the goal came one minute into stoppage time.

Woolery forced his way in on the right, dispossessing Tait and firing across goal to meet the near post run of Tierney, who steered the ball into the t0p-right corner of the net.

Motherwell: Kelly, O’Donnell, Mugabi, Solholm, Carroll, McGinley (Roberts), Donnelly, Goss, Slattery (Woolery), Shaw (Tierney), Van Veen.

Subs: Fox, Ojala, Nirennold, Grimshaw, Amaluzor, Efford.

The Motherwell assistant talks deadline day and the push to get more points on the board in the cinch Premiership, ahead of Tuesday’s trip to Paisley.

Motherwell cruised to their fifth league victory after defeating Spartans 3-0 in a phenomenal performance at Alliance Park on Sunday.

London Pollard netted her first Motherwell goal to put the women of steel in the ascendency, before adding her second of the match on the stroke of half time.

Jo Addie fired an exceptional third midway through the second half to secure all three points.

Looking to build on their performance in the midweek defeat to Hibernian, ’Well applied the early pressure and deservedly broke the deadlock after five minutes.

Pollard skilfully latched onto Kaela McDonald-Nguah’s through ball, before coolly dispatching her strike into the bottom-left corner to give her side the early advantage.

After dominating much of the early possession, Motherwell continued to threaten and came agonisingly close to doubling their advantage midway through the first half.

Katie Rice’s pinpoint delivery accurately picked out McDonald-Nguah deep into the Spartans penalty area, but the forward was unable to capitalise at the back post.

With the half time whistle looming, Motherwell were reduced to 10 as McDonald-Nguah was given her marching orders, much to the bewilderment of the Motherwell technical area.

However, despite the disadvantage, Motherwell pressed forward and deservedly netted a second on the stroke of half time.

Pollard’s perfectly-timed run exploited Spartans’ high defensive line, allowing the striker to race through on goal. She skilfully rounded the keeper before calmly placing her strike into the empty net.

With the second half underway, the women of steel continued to advance in search of a vital third goal.

Their efforts were rewarded as Leanne Crichton’s exceptional cross accurately picked out Addie at the back post, who composed herself before rifling a spectacular half-volley into the top left corner.

With the final few minutes ticking away, the visitors searched for a late consolation. Sarah Clelland’s long-range attempt swerved unpredictably in the stormy conditions, but Khym Ramsay reacted quickly to produce a smart stop.

Nevertheless, the hosts stood resolute to record their fifth victory in the SWPL1 this season.

Paul Brownlie will be encouraged by his side’s performance as they look to extend their advantage over Aberdeen in the league table with a win away to Hearts next week.

We’re back in action on Tuesday, visiting St Mirren in the cinch Premiership.

Kick-off at the SMiSA Stadium is at 7.45pm.

Get your tickets now

Tickets are no longer available from Fir Park. But you can buy online until 15 minutes after kick-off from St Mirren directly, and make use of the digital ticket provided.

Prices are:

• Adults: £22
• Over 65s / 12-17s / students : £12
• Under 12s with adult: £6

Covid restrictions

Covid-19 certification checks will not be in operation.

We also advise that all fans take a lateral flow test before travelling to the match, regardless of their vaccination status.

Live streaming

You can watch a live stream of St Mirren v Motherwell for £14.99 if you’re in the UK.

To buy, head to ppv.stmirren.com.

International viewers can watch through our subscription service at live.motherwellfc.co.uk. Packages start at as little as £12.50 per month to watch all 38 cinch Premiership fixtures.

Tale of the tape

Motherwell are unbeaten in the last four matches between the two sides, albeit three have ended in a draw.

Earlier this season, ‘Well were pegged back from 2-0 up to draw thanks to two late Eamonn Brophy goals.

Success last came in the fixture at Fir Park in April 2021, with Devante Cole scoring the only goal.

Away from home, Motherwell are undefeated in their last six trips to Paisley, winning three and drawing three.

Form guide

Jim Goodwin’s men have won their three games in 2022 to date, defeating Aberdeen, Ayr United and Dundee United.

The Buddies were not in action at the weekend, with their trip to Dundee postponed.

Motherwell’s 2-0 loss at Hearts on Saturday followed on from success against Morton, a draw with Hibernian and defeat to Ross County.

“We are in the business of winning games. We played well, but they had the hard edge ability to win the game.”

Motherwell put in a shift but were undone by their own mistakes in a 2-0 loss at Hearts.

Goals from Andy Halliday and Ellis Simms, both as a result of the visitors being caught on the ball, were the difference.

Liam Shaw and Ross Tierney made their first starts at the expense of Liam Donnelly and Kaiyne Woolery, with Callum Slattery also replacing Sean Goss in midfield.

Motherwell started strong, but were almost punished in bizarre circumstances when Kelly was adjudged to have picked the ball up from a team-mate’s pass.

From the resulting indirect free-kick just inside the area, the wall did its job to prevent an early lead for the hosts.

The first big Motherwell chances arrived within the first 15 minutes.

First, an O’Donnell cross from the right made Shaw stretch and send a header over the crossbar.

Then, after great linkup play between Tierney and Van Veen, the Dutch striker arced a effort from 20 yards agonisngly just past the right post.

Motherwell were playing with great purpose but they were to be disrupted on the half hour mark, when injury to Barry Maguire forced him off.

Goss replaced him in midfield but was unfortunately at the heart of the build-up to Hearts’ opener.

The Englishman was dispossessed in his own area on the right side, with the hosts punishing him to maximum effect, sweeping the ball left for Halliday to fire home.

Motherwell though should have been level at the break.

Roberts spent the half terrorising his opposite full back and sent in a wicked cross from the left. Van Veen was on the end of it, but steered his header back across goal and wide.

The Dutchman then had another shooting chance from a free-kick in stoppage time, but sent his effort from 25 yards over the bar.

Motherwell again started brightly but would rarely trouble Gordon’s goal.

The punishment for that would arrive just before the hour mark.

Shaw was dispossessed in the centre circle, allowing a wave of Hearts players to break forward. The ball eventually would come in from the right, with Ellis waiting to tap home at the back post.

Van Veen, Amaluzor and Roberts had chances but ‘Well couldn’t engineer a way back into the match, and left the capital empty handed.