Fan Ownership - Morton Club Together

[Jamie_M]

I think the Record have made a typo and its 25% with MCT as per the website so that's around 30% between that and GMST which is a significant amount.

 

 

That's not correct.

 

GC currently hold 89.95%. The £400k will dilute that to 75% (so MCT getting 14.95% for the money). The 25% quoted includes all other current shareholders outwith GC such as the trust.

 

So 14.95% for 400k, values the club at £2,675,585.

 

The valuation does seem to factor in 'getting their money back' rather than writing it off.

[Jamie_M]

I think it's a good idea. 15% would make a fans group a strong shareholder with Dougie's shares being separated. The amount needed is big but it's achievable if some larger investors and local businessmen get involved to pledge larger amounts.

 

However the website is poor and I'm not sure if my pledge is going through or not.

Interstadia's contribution working well.

[Madton]

Are we to believe the current board will still be in place in 2 years time, knowing Crawford's predicament with his family/GC etc?

 

Widely expected the Easdales will make their move, so where would that leave said pledges if they or anyone else for that matter want complete control?

 

Hats off the guy for stepping up to the plate and i hope its a success but i am sceptical that it will get the required funds.

 

Is the guy a poster on here?

[vikingTON]

Question and Answer section:

 

https://mortonclubtogether.com/QuestionAndAnswer.html

 

The use of 'The Morton Way (undefined)' no less than nineteen times in that article is quite infuriating. If we could fire that cringeworthy, Celtic/Barcelona-esque pish into the sun right now then that would be great.

 

[Jamie_M]

You can have one off investors donating anything from £250 up so you could, for example, have a wealthy businessman who wants to say they have shares in a club or are involved in something like this who puts in a few grand so that would reduce the number of tenner subscriptions.

They should spend a lot of time courting local businesses to that effect to chip away at the number for maximum chance of achieving it. Companies that can write it off as supporting a community project or something.

 

Also specifically targeting ex-players with a Bob or two, plenty of schemes reach out specifically to alumni.

 

And absolutely hounding Gordon Ramsay until he goes the full £100k to get them a quarter of the way there.

[Alan_Partridge_Ton]

The use of 'The Morton Way (undefined)' no less than nineteen times in that article is quite infuriating. If we could fire that cringeworthy, Celtic/Barcelona-esque pish into the sun right now then that would be great.

 

Agreed. Franco had the right idea.

[Jamie_M]

Biggest barrier will be the current board, chairman and ceo. Years of mismanagement and squandering their own money (in Iron man's case, someone else's already) for nothing. Many will struggle to ignore that to pledge their own money for them to squander.

[Alibi]

I haven't read the article, but do the funds raised give any actual stake in the club - for example in terms of subscribing to a share issue?  or is it just money that the board (current or otherwise) can piss against the wall to sign Dylan Dykes on a 10 year deal.

[irnbru]

Biggest barrier will be the current board, chairman and ceo. Years of mismanagement and squandering their own money (in Iron man's case, someone else's already) for nothing. Many will struggle to ignore that to pledge their own money for them to squander.

I thought that but with 25% of shares owned elsewhere they can be held to account and all of these issues really perused by the people involved. I'd assume the caveat of investment is getting all this transparency in place.

[Malt]

That's not correct.

 

GC currently hold 89.95%. The £400k will dilute that to 75% (so MCT getting 14.95% for the money). The 25% quoted includes all other current shareholders outwith GC such as the trust.

 

So 14.95% for 400k, values the club at £2,675,585.

 

The valuation does seem to factor in 'getting their money back' rather than writing it off.

A fine post and nail on head.

 

They bought the club for 250k and in 18 years it’s worth just over ten times that...no wonder no one wants to buy it.

[Charles_Joe]

I’d like to know more about the credentials of the people behind it.

[dunning1874]

I’m intrigued to say the least. I’m glad the opportunity is there for me and others to invest in the club at least, and no bad can really come of this. It’s worth having a go and seeing where it takes us, I don’t think £400k in two years is as mental as others do. Ambitious, but not completely pie in the sky.

 

Aye, this.

 

FWIW I reckon £400K is too ambitious unless you did have more serious investors chucking thousands in themselves, but if someone can put that kind of money up they’re more likely to do it themselves rather than having no more influence than people putting in a tenner a month.

 

It shouldn’t be looked at as all or nothing though. It doesn’t have to be a gradual process towards full fan ownership, there’s no harm in getting the support organised with a stake in the club following even if other investors, whether that’s the Easdales or someone else, take a bigger stake and become the majority interest in the club at a later date.

 

The support has been disorganised and at odds for years. While scepticism over any proposal like this is healthy and questions should be asked, at face value it seems a chance to get things in order so some kind of fans structure is in place if some type of Scott fogure did surface again after Golden Casket sell up.

[dunning1874]

Although as M4RKO says, it would be good to know about the people controlling MCT’s own credentials. That’s the caveat on the ‘no bad can come of this’ line, but at face value it seems a reasonable plan despite the birthday caird p*sh.

[TONofmemories]

Update website with a short story of his background. Never seen the guy before.

[TONofmemories]

First fundraising event - 'Stars of 79 v2'

[EanieMeany]

As well as the "the club's in danger of disappearing" patter, I'm not really sure about this idea that the club is "on the verge of flourishing" from the youth set-up and Community work.

It quite patently isn't. 

[Malt]

When have we been here before? It's an opportunity to have enough shareholding to hold the board to account while wiping out debt to make the whole club more appealing to other investors.

 

Rae has said he'd wipe the debt in the event of a takeover which obviously isn't forthcoming so if this happens and the 400k is going directly into the club it's a win win.

 

As I mentioned earlier, it's at a pledge stage and there's still work to be done but there's far more positives than negatives.

Stuart Duncan tried this before and it soon faded away. I would say morale amid the fan base a lot worse now than it was then or ever was. His notion was £10 or £500 loan.

 

15% you can’t hold him

Accountable as he remains the majority shareholder and £400k for that percentage, madness.

 

I would assume the 400k goes to Tae and not the club as be buying his shares.

[irnbru]

That's not correct.

 

GC currently hold 89.95%. The £400k will dilute that to 75% (so MCT getting 14.95% for the money). The 25% quoted includes all other current shareholders outwith GC such as the trust.

 

So 14.95% for 400k, values the club at £2,675,585.

 

The valuation does seem to factor in 'getting their money back' rather than writing it off.

Nah its not correct but I don't think you are either! The 25% is basically non Rae owned shares so 15% them and 10% elsewhere.

 

What I don't think you're correct on is that its not buying shares and giving them money, it's putting cash to the club to be used for the club. Rae has already said GC won't be used for money and he can't put anything in so it's not like it's offsetting his costs or anything, it's simply making the club a more stable business (and maybe making their 75% more attractive to other investors).

[Malt]

Do the Rae Family not have 88% of shares.

[Alibi]

Stuart Duncan tried this before and it soon faded away. I would say morale amid the fan base a lot worse now than it was then or ever was. His notion was £10 or £500 loan.

 

15% you can’t hold him

Accountable as he remains the majority shareholder and £400k for that percentage, madness.

 

I would assume the 400k goes to Tae and not the club as be buying his shares.

 

Is that £500 the same £500 that I paid to the trust at a tenner a month and which I was told I can't have back?  I'd like to know where that money went; and also how to stop them taking a tenner off me via Paypal once a year as there doesn't seem to be any way in Paypal to cancel or block that payment, apart from cancelling my Paypal account and setting up a new one.