Motherwell chiefs have reached an agreement with a US-based investor.
The Fir Park club have announced talks with an American family will proceed to the next stage after an agreement on a non-binding Head of Terms.
Motherwell’s executive board had been seeking external investment and will now work on formalising a legal framework to take forward to a shareholder vote.
It’s claimed the investor has expressed a desire to work in partnership with the Well Society as part of the deal.
The club advised the process to formalise a Head of Terms is likely to take around six weeks.
The Executive Board of the Club would like to confirm that investment discussions with a US-based family have reached a point where both parties wish to proceed to the next stage and have, therefore, entered into an agreement on a non-binding Heads of Terms, according to a statement posted on the club’s website: ”
“Now, both sides will put their efforts into formalising these into a framework of laws that can be placed to a vote by shareholders.
“The investor has stated that he would like to collaborate with the Well Society.
“The process of formalising the Heads of Terms is likely to take around six weeks and we will keep you updated on progress.”
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