Motherwell pay off £1.5m debts to former owners
- Published
Stephen Robinson, right, guided Motherwell to victory over Craig Levein's Hearts earlier this season
Motherwell have confirmed they no longer owe any money to former owners John Boyle and Les Hutchison.
An amount, totalling over £1,500,000, has been paid back over three years through the sale of first-team players.
The Fir Park club were the first top-flight side to become fully owned by fans when the Well Society concluded a takeover from Hutchison in 2016.
Motherwell have now paid off all debts to outside parties aside from £80,000 in loans to five fans of the club.
Defender Cedric Kipre left Fir Park to join Wigan Athletic for £1m in August 2018. And Motherwell sold striker Louis Moult to Preston North End for £500,000 in December 2017, five months after defender Ben Heneghan moved to Sheffield United for around £300,000.
"From the moment the Well Society took over the majority interest, our collective energy has been firmly focused on ensuring the club is sustainable on a medium to long-term basis," said Motherwell chairman Jim McMahon.
"A key part of that has been eliminating the debt we inherited and we have now almost achieved that. For the club to have paid back such a significant amount in just over two years is a remarkable feat."
'Exciting times' for Motherwell - Robinson
Manager Stephen Robinson says there are "exciting times" for Motherwell as he brushed off reports linking him with the Hearts job.
Robinson has been linked with the vacant post following Craig Levein's sacking on Thursday. The Northern Irishman has Motherwell third in the Scottish Premiership and has taken them to two cup finals.
"Listen, I solely concentrate on Motherwell," said Robinson. "We have a big game on Saturday [against Livingston] and that's my sole focus.
"We are doing well and we have to make sure we stay in that position and we have to be on top of our game to do that."
When asked whether he felt he still had a long way to go at Fir Park, Robinson said: "Well, I've got a two-year contract so I hope so, unless the board have changed their minds."