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Morton Club Together Updates


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They’ve 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.

Brian Wake my Lord, Brian Wake

Brian Wake my Lord, Brian Wake

Brian Wake my Lord, Brian Wake

Oh Lord, Brian Wake

 

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Fair is fair.

Back it and we're headed to being debt free and possibly more attractive to a prospective buyer.

Yeah, that’s a critical point. Some people had their doubts about MCT as they were concerned it would just be used to prop up Golden Casket by plugging gaps in the budget on their behalf, and wanted a fan organisation to be looking at how to ensure a smooth transition if GC sell up in the future.

 

While the former point could still be argued, there’s no doubt that this will help with the latter: we’re far more likely to attract credible investment without £2.5M of debt hanging over us. There’s always a risk of asset-stripping chancers looking at football clubs regardless of what state a club is in and we have to be wary of that, but at least we know we’re not going to have millions of debt hanging over us if this works.

Brian Wake my Lord, Brian Wake

Brian Wake my Lord, Brian Wake

Brian Wake my Lord, Brian Wake

Oh Lord, Brian Wake

 

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Right now nobody wants to buy us.

 

I'm behind the idea and if every penny goes towards the playing squad then I would rather see more quality on the park and increase our chances of a better placed finish. Especially If the current chairman isn't willing to put in anymore money.

Im making perfect sense, your just not keeping up.

My Twitter - 
https://twitter.com/RJChesh

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Right now nobody wants to buy us.

That’s just nonsense. The Raes have disclosed that they’ve rejected interested parties in the past, while there are prominent local businessmen who are quite clearly in the frame to buy the club. Whether those offers were or would be in the best interests of the club is a separate discussion - the idea that GMFC is some terrible millstone that Golden Casket and no-one else would want to run is false though.

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The site is supposed to be a place for the extended 'family' of Morton supporters - having an affinity with people that you don't know, because you share a love of your local football club. It's not supposed to be about point scoring and showing how 'clever' or 'funny' you are, or just being downright rude and offensive to people you don't know, because you can get away with it. Unfortunately, it seems the classic case of people who have little standing/presence in real life, use this forum as a way of making themselves feel as if they are something. It's sad, and I've said that before..

 

So, having been on Morton forums for about 15 years I guess, I've had enough... well done t*ssers, another Morton supporter driven away. You can all feel happy at how 'clever' you are

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Bullshît. Crawford Rae has already stated that the debt wouldnt stand in the way of any potential buyers. He's an absolute charlatan and lying scumbag.

As for the MCT scheme. Capitanus describes it perfectly.

You said you'd pledged though?

"CORNBEEF IS A BELLEND"

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Yes, I have.

I've listened to what they've said, and once I've read the T&Cs with my own eyes, I'll decide whether to turn my pledge into cash. But, from what I'm hearing today, that's looking unlikely.

What have you heard that is likely to put you off?

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The terms of the deal are good enough and setting up the DD was surprisingly a piece of piss as well (makes you wonder why the club is using tinpot providers for its ticketing and online content instead). 

The site is supposed to be a place for the extended 'family' of Morton supporters - having an affinity with people that you don't know, because you share a love of your local football club. It's not supposed to be about point scoring and showing how 'clever' or 'funny' you are, or just being downright rude and offensive to people you don't know, because you can get away with it. Unfortunately, it seems the classic case of people who have little standing/presence in real life, use this forum as a way of making themselves feel as if they are something. It's sad, and I've said that before..

 

So, having been on Morton forums for about 15 years I guess, I've had enough... well done t*ssers, another Morton supporter driven away. You can all feel happy at how 'clever' you are

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The terms of the deal are good enough and setting up the DD was surprisingly a piece of piss as well.

 

 

Agreed on both counts. I don't know what more indicative pledgers might reasonably have expected.

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could you ixplain in plain english please

I sometimes wonder if English is your first language or not, but here goes.

 

I agree with VT that the terms agreed between MCT and the Club are reasonable and also that setting up a Direct Debit was very easy.

 

In terms of the former, ie the agreement with the Club I don't know what more indicative pledgers might have wanted or expected.

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What have you heard that is likely to put you off?

Doesn't matter he's just being contrary as per.

 

Peter Weatherson is the greatest player since Ritchie, and should be assigned 'chairman for life' 


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Pledged today at the open day. Was told I would receive an email link within next day or two to set up DD. All explained clearly in a couple of mins.

Got home, checked email and link had been sent. Set up with zero fuss.

20.1.09

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