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The Greenock Morton Thread - It's Better Than Yours


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4 minutes ago, Colkitto said:

The Rae's want out and the Easdales can't buy it, so this is the only other solution.

MCT have impressed and I'm sure the homework will have been done. This is a model where most fans would like to have if they could. 

I'm feeling optimistic...

This news was accompanied by a statement that there WAS another solution that was rejected.

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7 minutes ago, Colkitto said:

Oh! Do you know what it was? 

No idea I'm afraid but it was said to be from people with no previous connection to the club or the local area. I'd be very interested to hear but I doubt we ever will.

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5 minutes ago, Colkitto said:

Oh! Do you know what it was? 

There's a non-disclosure agreement so no one can say who, but the statement says it was someone with no prior connection to either Morton or Inverclyde and that offer was financially better for Golden Casket but they chose to go with MCT.

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1 hour ago, Skyline Drifter said:

Yes, must be some concerns in Golden Casket retaining ownership of the ground?  I assume it's with a potential for long term commercial development of the site if Morton relocate or something?

£2.5m of loan debt being written off is not to be sniffed at obviously but presumably it was soft debt with no interest?

They've said it will be a peppercorn rent and the lease agreement will prevent them from selling the stadium as long as MCT are owners of Morton. That does of course lead to questions about what happens in the future in a scenario where MCT aren't owners via an administration/liquidation event or just choosing to sell - we don't want to be without the club's biggest asset in those circumstances.

However they're framing it as protecting the club in the event we ever did end up in financial hardship - the stadium being kept in separate but friendly hands rather than at the mercy of creditors. Not logic I agree with but that's their argument.

If a lease agreement can ensure Golden Casket can't either raise the rent to an exorbitant amount or sell it from under the club's feet then those are good safeguards to have in place, but the above questions and also the issue of who funds any potential future redevelopment and on what terms also need answers.

Frankly I'd still prefer to wait a few more years to get to the position of community ownership through having to raise a significant sum to buy GC out with the stadium remaining in the hands of the club rather than have MCT getting the club for £1 or whatever the tiny nominal fee is without ownership of Cappielow. However I also don't think those valid concerns are a reason not to support this. This is the opportunity we have for the club to progress and we have to take it.

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It is clear Golden Casket intend on not allowing the debt to increase and will continue to manage the club with its spend matching its current income level.

It is also clear that they do not see Morton as a long term project and have not invested time or money in improving our income streams nor considering capital investment in the ground.

In this Covid 19 environment they will be mainly focused on GC's survival .

So so time is right for MCT to move to community ownership while they may have undertaken dule diligence it will be a tight programme if completion is to be realised. A lot will depend on those not contributing coming on board to make it happen or we might end up with an even more threadbare squad for season 21/22. It is also imperative that we stay in the Championship.

The terms of the lease will be of great interest not less the term of maintaining the ground at it's current standard. I feel the ground has been kept on a minimal investment level but look forward to reading the dilapidation condition report. I also expect no capital contribution from the GC but MCT must see the urgent need for investment if we hope to attract a wider fan base and away support.

I will continue with my contribution as long as this project survives and hope to provide professional assistance to make it work.

I would ask all who can, if not just now, to buy in to this project.

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😲

Why on earth would any Morton fan feel the need to rid-dot the post above? 

Honestly, sometimes I really wonder about some of our lot. 

 

ETA - good one, Stella. 👍

Edited by Rudolph Hucker
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1 hour ago, Rudolph Hucker said:

😲

Why on earth would any Morton fan feel the need to rid-dot the post above? 

Honestly, sometimes I really wonder about some of our lot. 

It’s personal. Nothing to do with what he posted. You probably know that anyway.

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1 hour ago, Rudolph Hucker said:

😲

Why on earth would any Morton fan feel the need to rid-dot the post above? 

Honestly, sometimes I really wonder about some of our lot. 

He has issues.

I failed to notice a solution he offered to resolve to my loss of access to the Morton forum many years ago.

Gave a negative comment on it being down recently got stick from the bully gang. Note if it continues I will contact Div.

Gave a sincere applology,  something I don't do often,  not accepted now red dots all comments I make.

I assume  if he is part of the initiative he will red dot my offer of professional help.

I have given up on seeking to post on the Morton forum as P&B is a more cosmopolitan group of supporters

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1 minute ago, Paisley Ton said:

He has issues.

I failed to notice a solution he offered to resolve to my loss of access to the Morton forum many years ago.

Gave a negative comment on it being down recently got stick from the bully gang. Note if it continues I will contact Div.

Gave a sincere applology,  something I don't do often,  not accepted now red dots all comments I make.

I assume  if he is part of the initiative he will red dot my offer of professional help.

I have given up on seeking to post on the Morton forum as P&B is a more cosmopolitan group of supporters

Outstanding.

568B541A-6A1A-44B9-95B3-39493C347668.jpeg

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15 hours ago, Skyline Drifter said:

Yes, must be some concerns in Golden Casket retaining ownership of the ground?  I assume it's with a potential for long term commercial development of the site if Morton relocate or something?

£2.5m of loan debt being written off is not to be sniffed at obviously but presumably it was soft debt with no interest?

The agreement is that Morton play at Cappielow as long as MCT are in charge. The stadium ownership is going be subject to a lot of debate but I think the current rationale is it protects the stadium if MCT goes tits up as it will be in friendly hands and not subject to creditors. We will see.

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3 hours ago, Paisley Ton said:

He has issues.

I failed to notice a solution he offered to resolve to my loss of access to the Morton forum many years ago.

Gave a negative comment on it being down recently got stick from the bully gang. Note if it continues I will contact Div.

Gave a sincere applology,  something I don't do often,  not accepted now red dots all comments I make.

I assume  if he is part of the initiative he will red dot my offer of professional help.

I have given up on seeking to post on the Morton forum as P&B is a more cosmopolitan group of supporters

Aah, right, that was you. I thought at the time he maybe had a point coming back at you the first time, but to do it three or four times in that detail with that level of vitriol was just embarrassing for him. Time he realised he ain't an angry young man any more, he's just another miserable disillusioned geezer. 

P&B has more than its fair share of those and other assorted zoomers, but nearly every time I read the Morton board I feel like wiping my feet on the way out. 

 

PS - I see that his wee soor-faced pal is another one playing the "dot the poster, not the post" game.  😆😆😆Honestly, guys, get a life.......  Even getting one between you would be a big improvement.  👍

Edited by Rudolph Hucker
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1 hour ago, GiGi said:

The agreement is that Morton play at Cappielow as long as MCT are in charge. The stadium ownership is going be subject to a lot of debate but I think the current rationale is it protects the stadium if MCT goes tits up as it will be in friendly hands and not subject to creditors. We will see.

I can squint and see that logic, and I’ve got no reason to doubt the individuals leading MCT, but I would want to know a lot more about the detail of that lease than we got on last night’s call before I adopt an opinion that “ach it’ll be alright”.

I’ll say again that, if it were possible, this agreement should have gone to a vote of the MCT membership. The pros and cons - particularly around stadium ownership and the presence of “patrons” and what they’ll be expecting for their large donations - could then have been discussed more factually rather than with the degree of spin we got last night because the decision had already been taken unilaterally.

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MCT already have more than 50 new members after the announcement last night. While everyone wants more information about how exactly this will work in practice and that needs to come over the next few month, people are clearly buying into this already.

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5 minutes ago, Dunning1874 said:

MCT already have more than 50 new members after the announcement last night. While everyone wants more information about how exactly this will work in practice and that needs to come over the next few month, people are clearly buying into this already.

A good sign. Was pretty critical that they saw a decent spike after the announcement.

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4 minutes ago, Morton Supporter said:

I can squint and see that logic, and I’ve got no reason to doubt the individuals leading MCT, but I would want to know a lot more about the detail of that lease than we got on last night’s call before I adopt an opinion that “ach it’ll be alright”.

I’ll say again that, if it were possible, this agreement should have gone to a vote of the MCT membership. The pros and cons - particularly around stadium ownership and the presence of “patrons” and what they’ll be expecting for their large donations - could then have been discussed more factually rather than with the degree of spin we got last night because the decision had already been taken unilaterally.

Agree with this. Obviously can't let every tenner sub kibosh forward thinking but more transparency needed.

 

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2 hours ago, Paisley Ton said:

He has issues.

I failed to notice a solution he offered to resolve to my loss of access to the Morton forum many years ago.

Gave a negative comment on it being down recently got stick from the bully gang. Note if it continues I will contact Div.

Gave a sincere applology,  something I don't do often,  not accepted now red dots all comments I make.

I assume  if he is part of the initiative he will red dot my offer of professional help.

I have given up on seeking to post on the Morton forum as P&B is a more cosmopolitan group of supporters

Wouldnt worry about it. He red dotted me for pointing out Kyle Jacobs is Dutch, not South African, a couple of weeks back too. I got over it really quickly.

(Awaits another red dot for this one 😉 )

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26 minutes ago, Skyline Drifter said:

Wouldnt worry about it. He red dotted me for pointing out Kyle Jacobs is Dutch, not South African, a couple of weeks back too. I got over it really quickly.

(Awaits another red dot for this one 😉 )

Huh?

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26 minutes ago, GiGi said:

Agree with this. Obviously can't let every tenner sub kibosh forward thinking but more transparency needed.

 

I agree that holding a vote on something of this magnitude would be preferable, but at the same time I'm not sure how practical it would be. We don't know how long they've been in negotiations to reach this agreement, and it's probably not realistic to be going to the membership with details of the progress of negotiations, particularly when there was another offer on the table.

I'd have liked to have a say on the stadium ownership aspect, but if making a deal had been dependent on going back and forth between Golden Casket and the membership then having to go back to revisit the deal because the members objected to various aspects of it then you could have ended up with Golden Casket chucking it, and rightly or wrongly I'm not sure they'd be happy with the negotiation essentially being conducted in public either. I can see why it's had to happen this way.

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