In the summer of 2024, supporters of Motherwell F.C. found themselves facing a defining moment. An offer of external investment proposed reducing the majority shareholding held by the Well Society, a democratic, not-for-profit supporters’ organisation, which would have ended the club’s majority fan-owned status.
For many involved, the debate quickly became a David-and-Goliath moment, with a group of Well Society board members and volunteers challenging the proposal backed by senior club figures and a high-profile media investor.
In the latest Fans Making An Impact interview, we spoke to Jason Henderson, former Well Society board member, and Derek Watson, current chair, about the takeover proposal, the ballot that followed, and how supporters ultimately defended fan ownership at Fir Park.
What was the situation?
Jason explains that the backdrop to the proposal had been building for some time.
“For a number of years, those running the club had talked about the potential need for investment further down the line. That culminated at the end of 2023 with a video aimed at attracting investors. It got a lot of attention and that led to interested parties getting in touch.”
Negotiations were initially handled by the club’s executive leadership before details were presented to the Well Society board. The proposal came from a high-profile figure with media credentials and international connections, a former Netflix executive whose potential involvement brought a sense of anticipation for a radical change in fortune for the club. For some supporters it was an opportunity to consider what if, but for members of the Well Society board examining the detail, it also created a sense that they were pushing back against a powerful narrative.
“A particular proposal from a former vice president of Netflix based in LA, with lots of media contacts, lots of celebrity friends. So, on the face of it, it might be something quite glamorous, particularly at the time of Welcome to Wrexham and all those other documentaries.”
However, once the heads of terms were examined in detail, serious concerns emerged.
“It became very clear that any deal which saw the Well Society drop below 50% was, by definition, the end of fan ownership. If you’re elected to the Well Society board, you’re there to safeguard that.”
Under early versions of the proposal, the Society’s shareholding would have fallen below a controlling stake. Even revised figures raised fundamental concerns. The investor proposed injecting £1.95 million over six years, while the Society would also have been required to contribute substantial funds during that same period while reducing its 71% shareholding in the club.
Derek recalls: “When you drove into the detail, it was a no-brainer for us. We would have been significantly reducing our shareholding while still putting in a large amount of money ourselves.”
Jason recalls how the debate quickly began to feel like an uphill battle.
“It felt very much like David and Goliath. We were six members of a nine-member Well Society board trying to safeguard fan ownership, but we were up against the Society’s co-chairs, the club chairman and executive board, and an investor with big media credentials and celebrity contacts. It was easy to see how the proposal could capture people’s imagination.”
Despite holding a board majority opposed to the deal, the Society chose not to block it outright.
“We wanted members to have their say,” Jason explains. “If we had simply refused, it would have left space for misinformation or the idea that we had overstepped our mark. As a democratic organisation, we believed it had to go to a ballot.”
Partway through the vote, the investor withdrew. At that stage, 56% of eligible members had voted, and 78% of them had rejected the proposal.
What did supporters want?
“There was definitely a sense that we were up against a powerful narrative,” Jason says. “There was the allure of external investment and the idea that if you want to compete, you need a cash-rich backer.”
But there was also historical memory at play. Derek points to the club’s past financial difficulties in the early 2000s, which led directly to the formation of the Well Society.
“We were set up as a financial safety net to make sure the club was never placed in the hands of one individual who could take it down the wrong path. People remembered that. They understood why fan ownership exists.”
Ultimately, the ballot confirmed broad support for retaining majority fan ownership as a principle.
“If members had voted for it, that’s democracy, we would have had to accept it,” Jason says. “But we were confident we could set out a clear, coherent case as to why this wasn’t the right path.”
What was the outcome?
The immediate outcome was straightforward: the proposed investment did not proceed. But the longer-term impact proved far more significant.
“It was stressful,” Jason admits. “There were sleepless nights. But in hindsight, it’s one of the best things that’s happened for the Well Society. It certainly wasn’t just the six of us on the board. There were volunteers in the Well Society workstreams who worked incredibly hard to communicate the issues, and supporters on forums and social media who backed the call to reject the proposal. That wider support was crucial.”
The episode triggered meaningful structural change. Leadership at the club was refreshed, governance processes were strengthened, and the Well Society adopted a more proactive strategic role.
“It was the rocket up the backside we probably needed,” Derek reflects. “We didn’t just reject the proposal, we produced our own plan for growth.”
Alongside governance reform, the Well Society has also launched an innovative membership education programme, the first of its kind in the UK, exploring models of fan and community ownership from around the world.
“The aim is to bring members closer to their ownership,” Derek explains. “To help them understand why it matters, how it works, and how clubs can be anchors in their communities.”
What began as a potential dilution of supporter control ultimately strengthened it. The attempted takeover tested governance, membership engagement, and democratic process, and in doing so clarified the strength of conviction within the Motherwell support.
FSE would like to thank Jason Henderson, Derek Watson, and the Well Society for taking part in this interview.
You can read the previous Fans Making An Impact feature on FC St. Pauli and its groundbreaking stadium cooperative here.