Motherwell chiefs have reached an agreement with a US-based investor.
The Fir Park club have announced talks with an American family will proceed to the next stage after an agreement on a non-binding Head of Terms.
Motherwell's executive board had been seeking external investment and will now work on formalising a legal framework to take forward to a shareholder vote.
It's claimed the investor has expressed a desire to work in partnership with the Well Society as part of the deal.
The club advised the process to formalise a Head of Terms is likely to take around six weeks.
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A statement on the club website read: "The Executive Board of the Club would like to confirm that investment discussions with a US-based family have reached the point where both parties wish to move forward to the next stage and have therefore entered into an agreement on a non binding Heads of Terms.
"Both parties will now work on formalising these into a legal framework which can be put to a shareholders vote.
"The investor has expressed his desire to work in partnership with the Well Society.
"The process of formalising the Heads of Terms is likely to take around six weeks and we will keep you updated on progress."
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