The Well Society have raised further concerns regarding the strategy document submitted by the prospective club investors, the Barmack family.
Last week, US-based Erik and Courtney Barmack, operating under the banner of Wild Sheep Sports, claimed they can "usher in a new era of prosperity" for the Fir Park club.
Their proposal includes a £1.95 million investment over a six-year period, contingent on the Well Society contributing £1.35 million during the same time frame.
However, the board of the Well Society, the supporters' group, has previously expressed opposition to the Barmacks' plan - with a two-week voting period on the family's offer is set to begin on Monday.
The Well Society, as Motherwell's majority shareholder, have now stated that the Barmack family's strategy document "has caused further concern" among the club's stakeholders.
This development adds to the ongoing discussions and debates surrounding the future ownership and direction of the Scottish Premiership side, as the supporters' group and the prospective investors continue to navigate the complex negotiation process.
A statement released on Sunday read: "The Well Society would like to acknowledge the Wild Sheep Sports strategy document that was shared by Erik Barmack via X on Friday 5 July. Motherwell supporters and Well Society members have been requesting this information for some time.
"However, we would also acknowledge the concerns that have been circulating on social media and forums following the release of this document. It appears to contain factually inaccurate, thus potentially misleading information, lifted from a social media account, which the author has accepted is incorrect.
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"The inclusion of this information at the heart of the Wild Sheep Sports proposal calls into question not only the viability of the investment offer, but the credibility of the process, particularly given that this document was endorsed by the outgoing Chairman and Executive Board in a statement issued following it's publication. We have raised this directly with the Executive Board.
"This only reinforces the impression that there is an attempt to rush this proposal through at all costs, regardless of the impact on fan-ownership, our fanbase, or the quality of information available to Well Society members and Motherwell shareholders.
"We do not believe that there is anything contained within the Wild Sheep Sports strategy document that alleviates the concerns we have previously outlined.
"In fact, certain content - such as suggesting the club commits almost £4m on projects chosen by Wild Sheep Sports over the first three years of the six year investment period - has caused further concern. We continue to recommend that this proposal is rejected by our members.
"We would like to be clear that the Wild Sheep Sports strategy document has been shared after Civica Election Services' strict deadline regarding all documentation relating to the ballot. This means, when members view the supporting documentation before placing their vote, the Wild Sheep Sports strategy document, club statement regarding it and our response will not be visible on the voting website."
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