Motherwell Football Club chairman John Boyle is to stand down as chairman having owned the club for 13 years and will pass control onto the club’s directors.
Boyle, who has invested over £10m into the Clydesdale Bank Scottish Premier League side, is to give up his shareholding for free as the club looks to ‘allow wider ownership’.
In a statement on the club’s official site, Boyle said: "It is 13 years since I acquired Motherwell FC, my hometown club. During those 13 years, I have supported the many loss-making years and ensured Motherwell’s survival in some tricky, parlous times.
"I have decided to stand down as chairman before the start of next season."
Derek Weir, Motherwell vice chairman said that the club’s directors needed to make the club more self-dependent: “It has always been the board’s intention that the club should not remain dependent solely on John Boyle’s goodwill and that the club should have a wider ownership and stronger financial basis.
"No Motherwell supporter has ever been in any doubt about the passion and support John has brought to our club. During his ownership he has spent a total of £10 million supporting the club, and made frequent injections of cash from his personal funds."