Motherwell 'stable' as chairman Jim McMahon & interim chief executive Derek Weir to stand down
- Published
Stuart Kettlewell, Derek Weir and Jim McMahon have been criticised by some fans for the team's results
Motherwell are in a "stable condition", insists director Douglas Dickie after chairman Jim McMahon and interim chief executive Derek Weir announced they are to step down.
Dickie also said there is room in the budget for January signings and stressed there are no plans to move away from their fan-owned model.
The Well Society has been running the Fir Park club since 2016.
"Fans should not be worried," Dickie told BBC Scotland.
Weir is to leave by April, while McMahon will exit by the end of the season, with Dickie admitting the news "came a bit out of the blue".
He said: "Obviously, they are two major characters who have helped develop the club and I'm sad to see them go.
"But they leave the club in a stable condition."
McMahon, who has been chairman since 2016, said the club "will require significant investment", revealing a new "fund-raising initiative" is in the pipeline.
"We are fan-owned and we don't want to give that up," added Dickie, who is also co-chair of Well Society, which has recently expanded its board.
"We don't have any particular figure in mind. It could be a joint-venture, a partnership, let's see what comes forward in the new year."
Motherwell are on a 14-match winless streak and sit second bottom of the Premiership.
Asked if boss Stuart Kettlewell would be able to make additions to his squad next month, Dickie replied: "I would imagine there will be some money available for the manager if that's his decision."
Former vice-chairman Weir took up his role in April, three months after the departure of Alan Burrows to top-flight rivals Aberdeen, following an unsuccessful attempt to find a permanent successor.
McMahon, who will formally announce his departure at the club's annual meeting planned for February, has been a director since 2001 and was made chairman when the Well Society fans group took over the majority shareholding from businessman Les Hutchison.
"It has become very clear over the last few years that, for the club to operate on a sustainable basis, provide the manager with a competitive player budget, meet the vastly increased cost of our other activities, including having a successful woman's team and maintaining a fit for purpose stadium, training ground and academy facility, that it will require significant investment," McMahon said on Monday.
"The final stages of a fund-raising initiative are almost complete and will be ready to be shared early in the new year."
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