The firm was appointed administrator of the Scottish football club after it was driven into the red by high player wages, low game attendances and a drop in sponsorship.
But today Bryan Jackson, the club’s administrator from PKF, said Motherwell was ‘financially fit’ for the new season which begins this weekend.
Jackson said: ‘We can reassure our supporters that Motherwell Football Club is going into the new season on a sound financial footing. Despite discussions with various parties, a suitable buyer for the club has not yet been found. However, the difficult decisions taken by the board of directors in conjunction with me not only saved the club but ensured it is in good shape to meet the challenges of the forthcoming season.’
He added that finances would have to be ‘strictly controlled’ but said the club was now ‘living within its means and we expect it will at least break even over the next season’.
‘Strengthening the playing squad will depend on income from TV revenues and the attendances at matches. The number of people who turn up for games is a vital factor,’ Jackson added.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies