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Tri-TON

The Greenock Morton Thread - It's Better Than Yours

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1 hour ago, Dunning1874 said:

Morton Club Together have confirmed their terms and conditions of membership. They’ve got a written agreement from Golden Casket that when the first payment is made GC will write off £500K of debt, with further debt cancellations coming for each £100K passed to the club by MCT.

That means that if the £400K target is met, the full debt to Golden Casket will be written off over two years. That’s a huge commitment that I didn’t see coming and means I’m more than willing to overlook the shareholding only being 15% when £400K should get more than that. That’s worth it in return for not having that debt hanging over the club, and the 15% shareholding transfers to MCT immediately as well.

There are still questions around what happens if they fail to raise that amount of money and what happens when the initial two years are over, but based on the debt cancellation commitment I’m definitely pledging.

Just finalized my pledge this morning - I too have some questions but as we can cancel payments I'd rather pay now to at least reduce some of the debt.

You'd hope that after the initial two year period then another window will open for more pledges maybe to acquire a larger shareholding than 15% or invest more? Depending on what actually comes into the first team after all these pledges I think we should also consider looking at ways our pledges could be used to create more revenue streams for the club too or what we can do in the youth system to develop talent and sell for more money.

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Aye, it’s interesting... £400k for a £2.5M debt write-off and 15% shareholding, with all of the £400k going towards strengthening the team looks like a fair proposition.

There are a couple of issues, though:

1. At currrent pledge levels, we look only to be in a position to contribute £144k over two years. The calculation must be that things will snowball and more pledgers will come on board when they see it’s ‘real’, but that is a punt; if nothing changed, it would take nearly six years to get to the target amount...

2. If we end up with a debt-free club, that is clearly a good thing. But Golden Casket will remain owners of 85% of a debt-free, and therefore much more saleable, asset. They must therefore calculate that they will get back more of their overall investment at the point of eventual sale. That could be achieved simply by writing off the debt... but there would in that scenario be no £400k coming in to the club. So the supporters are essentially being asked to keep the club going until the current owners can sell on terms that recover at least some of their accumulated investment...

Concerned about the first part and can’t help resenting the second part, but still likely to get involved, on the basis that there doesn’t look to be any real alternative.

Mon the fuckin Ton.

Edited by The Ghost of B A R P

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For Saturday, don't queue up like raging Falkirk fans 👍

 

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Even after yesterday's embarrassment I was looking to maybe going to Alloa at home next week.

£15 for a student? Am I the only one grudging this as a concession or is this a pretty reasonable price? Can't even comprehend paying 20 quid to see the shite on display.

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Hearing Hopkin has spoken with Greg Tansey after his release today.

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6 hours ago, Tri-TON said:

Even after yesterday's embarrassment I was looking to maybe going to Alloa at home next week.

£15 for a student? Am I the only one grudging this as a concession or is this a pretty reasonable price? Can't even comprehend paying 20 quid to see the shite on display.

If van Shite and Blues are in the team again then I'll probably stay in the pub. I'm fine with contributing through the MCT scheme regardless but if the club also wants people to pay 20 quid a pop to watch a game then they need to put a proper team on the park for this level instead of those shan ringers. 

Edited by vikingTON

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Tansey has osteomyelitis which has worsened to the point of needing surgery.

St. Murn wanted him to pay for his own operation, then it was announced that he and the club have parted company by mutual consent.

Can't see him signing for anyone, anytime soon.

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Another week, no further signings...

My optimism peaked the day we shipped out Dykes, but the incomings that followed are worrying.

Don't believe for a minute Hopkin actually thinks what he's got is good enough, so there must be more -- and better -- to come, possibly a couple of signings and a couple of loans (a keeper and two defenders, plus maybe a different option up front). Still three weeks to go, I suppose...

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1 minute ago, VinnyPar said:

Did I just read that Robbie Muirhead was playing LB on the strikers thread or am I tripping?!

You aren't but I'm pretty sure Hopkin was. 

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Badly need a new keeper before Sat. We can't go into a last 16 cup game with no sub keeper. 

Sounds like we will have a couple of players in before Sat at least going by Hopkin's comments today. 

Squad of 18 at the moment, excluding Dykes so thinking 3 more will be our limit. 

 

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That’s a fantastic signing and rectifies one of the biggest problem areas. If we can add a couple of quality defenders then the squad will be looking quite decent, but that’s a big if.

Saturday is probably a write-off barring those defensive signings coming in, but I’d rather we wait for the right players this time than rush in and end up with another dud.

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