As Hibernian remain interested in recruiting the Motherwell manager, Alex McLeish, for their vacancy, the Fir Park club have learned that the chairman wishes to sell his 52 per cent majority shareholding.
Chapman's decision is not connected with the Hibs approach for McLeish, instead he wishes to step down after 15 years on the board."I am 64 and retiring from the family business. I feel it is now time for me also to step back from my footballing commitments," Chapman, a butcher, said.
"It is unfortunate that this comes at a time when Hibs want Alex McLeish as their new manager but it has nothing to do with that."
Motherwell have refused Hibs permission to approach McLeish about the Easter Road job, left vacant when Alex Miller quit last week.
McLeish takes his team to Celtic today where opposing striker Pierre Van Hooydonk is likely to return to the starting line-up after settling his dispute with his manager Tommy Burns.
Aberdeen have been given permission by the Scottish League for live coverage of their Uefa Cup second round, first leg tie with Brondby atPittodrie next Tuesday. BBC Scotland will show the match live at 8pm, despite two First Division matches - Airdrie v St Mirren and Stirling Albion v St Johnstone playing on the same evening.Reuse content