Motherwell reveal how much ex-Netflix chief plans to invest and club value as shareholder vote closes in

Motherwell are in consultation with shareholders as they look to secure investment from ex-Netflix chief Erik Barmack.

The former vice-president of the streaming service is looking to acquire shares in the Steelmen and plough money into the club after their very public video appeal for US stars like Taylor Swift to get involved following Ryan Reynolds and Rob McElhenney's Wrexham takeover.

Majority shareholders and fan group the Well Society previously voted in favour of dropping their own shareholding below 50 per cent in order to allow for the outside investment. They are now part of the talks with the club along with other shareholders. A final vote on allowing Barmack and his wife Courtney in will take place from July 1. The ballot will close on July 14.

Motherwell have revealed that the Barmack's intend to invest £300,000 a year for the first three years and then £350,000 for the next three after that. They will initially own 8 per cent of the shares in the club but that will increase to 49 per cent by year six. If things don't work out as planned, the Well Society would be able to buy their shares back for £660,000.

A club spokesperson said: "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 1st July 2024."

Fir Park chiefs are urging anyone with questions over the transaction to contact shares@motherwellfc.co.uk, or alternatively to get in touch with Well Society at members@thewellsociety.uk.