DreamOakTree Posted December 30, 2020 Share Posted December 30, 2020 2 hours ago, Jamie_M said: Both are under contract until June 2022 after being given extraordinary new contracts, for longer terms than have been the norm for a long time. The club, with MCT assistance, cannot be faulted in that regard. It clearly has been a priority. That’s great news, I didn’t realise that was the case. 1 Link to comment Share on other sites More sharing options...
Toby Posted December 30, 2020 Share Posted December 30, 2020 12 hours ago, Nornirontons said: So are they gonna still be under contract? And does nobody believe MCT should be securing there only real assets now? Surely that makes sense? McGraw regime was certainly astute in this department. No time like the present imo At the end of the day as things stand the only real assets MCT will have is young Lewis and Reece as things stand! Get the house in order where it really matters and don't let this be another shitfest for the all to laugh at and take advantage of I was once told never to argue with an idiot as I’ll never win, so I won’t even try. 1 2 1 Link to comment Share on other sites More sharing options...
Admin Posted January 19, 2021 Author Share Posted January 19, 2021 On this week's episode of the Just One Cornetto podcast, following the Queen of the South game on Saturday, we will be featuring a Question and Answer segment with Morton Club Together's communications director, Graham Barr. Graham will be answering questions regarding all aspects of MCT and the upcoming takeover. To submit a question, either reply below or e-mail TheMortonForum@gmail.com. Questions must be submitted before 1pm on Thursday (21st Jan). Link to comment Share on other sites More sharing options...
Nornirontons Posted January 24, 2021 Share Posted January 24, 2021 Good insightful interview by Dean on the podcast with Graham Barr Interesting to hear about possible budget rise for next season. 25k patrons take a bow... hopefully more of them to come!! Communication and advertising which has been well undersold is going to be a clearer and better moving forward!! Commercial rates is a bit of a kick. You'd assume they'll be quite high but he spoke well, there's a clear plan of attack right from the off and thanks for putting in a few of my questions Link to comment Share on other sites More sharing options...
Popular Post vikingTON Posted January 29, 2021 Popular Post Share Posted January 29, 2021 (edited) On 17/12/2020 at 9:11 PM, pink_panther said: View this email in your browser Dear Members, Please see the below update from Morton Club Together which has been issued on our website and social media platform: We fully understand the frustration of supporters at this time, but we felt it important to outline our understanding of these matters. Despite what you may have read in the press and on social media, the club has a credit balance in the bank and is currently in no danger of administration. MCT has been assured by the Rae family and Golden Casket that they will continue to underwrite the financial security of the club until the end of the season. Any comparison with the stewardship of Hugh Scott is both inaccurate and deeply offensive. Copyright © 2020 Morton Club Together, All rights reserved. You are receiving this email because you opted in via our website. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list. Well this statement is not ageing particularly well, given that in spite of receiving a £500k taxpayer's grant for literally fuck-all, the current custodians of GMFC have in the following six weeks: - not replaced the manager - not replaced the overall coaching staff like for like - not replaced the goalkeeper coach - not signed a backup goalkeeper - not signed any cunt else - now have a vacant chief executive post All in all, GMFC have now achieved the six staff cuts that they were looking for in January. So what specifically makes this 'run a stupid wee barebones outfit until we strip the assets' exercise incomparable to Hugh Scott's tenure? Edited January 29, 2021 by vikingTON 12 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 Link to comment Share on other sites More sharing options...
dunning1874 Posted February 14, 2021 Share Posted February 14, 2021 Update on takeover negotiations re the status of Cappielow: https://mortonclubtogether.com/2021/02/14/1312/amp/?__twitter_impression=true I need some time to process all this, but my initial reaction is being taken aback by the gall of Golden Casket. You wouldn't think they could still surprise anyone with their brass neck at this point, but here we are. 2 Brian Wake my Lord, Brian Wake Brian Wake my Lord, Brian Wake Brian Wake my Lord, Brian Wake Oh Lord, Brian Wake Link to comment Share on other sites More sharing options...
Scott Posted February 14, 2021 Share Posted February 14, 2021 Crawford and Co can get fucked. Give us the stadium and write off the debt. 1 Link to comment Share on other sites More sharing options...
Tubes Posted February 14, 2021 Share Posted February 14, 2021 Unbelievable the brass neck of these absolute *****. Singled handedly cause 2m(?) of the debt by prolonged mismanagement, come out and tell us that the debt isn’t an issue, when clearly it is an issue. If only fans were allowed into games, he would be getting hounded. Absolutely behind the manager and playing squad 100% but we need to get this charlatan out. Link to comment Share on other sites More sharing options...
EanieMeany Posted February 14, 2021 Share Posted February 14, 2021 Isn't Crawford on record explicitly stating that the debt would be written off if a viable new owner came along? 3 minutes ago, Tubes said: Unbelievable the brass neck of these absolute *****. Singled handedly cause 2m(?) of the debt by prolonged mismanagement, come out and tell us that the debt isn’t an issue, when clearly it is an issue. If only fans were allowed into games, he would be getting hounded. Absolutely behind the manager and playing squad 100% but we need to get this charlatan out. Correct, and they know it fine well. MCT really need to toughen up. AWMSC Link to comment Share on other sites More sharing options...
TONofmemories Posted February 14, 2021 Share Posted February 14, 2021 Grim 1 TIME FOR CHANGE! Link to comment Share on other sites More sharing options...
Popular Post TheGoon Posted February 14, 2021 Popular Post Share Posted February 14, 2021 Brass neck, blow torch. Bastards. 3 Link to comment Share on other sites More sharing options...
irnbru Posted February 14, 2021 Share Posted February 14, 2021 9 minutes ago, EanieMeany said: Isn't Crawford on record explicitly stating that the debt would be written off if a viable new owner came along? Correct, and they know it fine well. MCT really need to toughen up. MCT might prefer these approaches as a way of safeguarding the assets if things don't go to plan, i.e. GC would have them and not unknown administrators. It would be interesting to hear what they say about it all. 1 Link to comment Share on other sites More sharing options...
port-ton Posted February 14, 2021 Share Posted February 14, 2021 Maybe I misunderstood but I thought with option 2 that the debt wouldn't be recalled and is only there to allow GC to be the preferred creditor for the stadium if we are facing liquidation? If so then it's certainly not the ideal scenario but as long as the agreement is legally watertight that the rug can't be pulled from under our feet then I see it as acceptable. Happy for more intelligent posters to change my mind though. Good people will do good things, bad people will do bad things, but only with religion do good people do bad things! Link to comment Share on other sites More sharing options...
HamCam Posted February 14, 2021 Share Posted February 14, 2021 (edited) Neither option is ideal but I suspect the best that could be negotiated with Golden Casket. The Raes are 'hiding' behind the possibility/expectation MCT fails and they can, as secured creditors, once again, claim to be acting as trustees securing the future of GMFC. The reality is, however, we have been here before and the promises of DDFR were not kept so why should we trust the Raes again? As a cynic, all I see is the family retaining the property assets unless MCT essentially pay off the debt incurred during their mismanagement of the club. It looks like we are caught between a rock and a hard place. Edited February 14, 2021 by HamCam Link to comment Share on other sites More sharing options...
Alibi Posted February 14, 2021 Share Posted February 14, 2021 (edited) This proposal, if I am reading it correctly, means they are in effect selling the ground to us for 2 million quid, while retaining the car park which is a viable development site. Am I right in thinking that the car park was included as part of the purchase from the administrators 20 years ago? If so, that is really taking the piss. Need to look at what is really going on here, but it looks to me like valuing the ground alone at 2 million. Edited February 15, 2021 by Alibi 1 "Any nation given the opportunity to regain its national sovereignty and which then rejects it is so far beneath contempt that it is hard to put words to it." Link to comment Share on other sites More sharing options...
Jamie_M Posted February 14, 2021 Share Posted February 14, 2021 Fucking raging we can't be there to hound these cretins. 2 Link to comment Share on other sites More sharing options...
TaunTon Posted February 14, 2021 Share Posted February 14, 2021 As Hamcam says it is rock or hard place (and not entirely unexpected given the recent history of our current absentee landlords). Both options have something to recommend them to avoid the project being effectively stillborn but I think I need some time to weigh it up before choosing between the poisons. Link to comment Share on other sites More sharing options...
Popular Post dunning1874 Posted February 14, 2021 Popular Post Share Posted February 14, 2021 (edited) Before getting into the lengthy wrongs and wrongs of this on GC's part, on a simple matter of fact, why are they talking about £2M being the figure of debt? As I understood it the debt was £2.5M when MCT first entered into the agreement for a 15% stake, we've since had £1M of debt written off, and each time a further £100K is delivered a further £500K will be written off? Either £1M of debt was never written off, in which case we were lied to, or it was but the club has somehow been run at such a colossal loss (with GC covering the shortfall) over the time since MCT first made the debt cancellation agreement that the debt has stood still. In essence, we're being asked to believe the club has made a loss of half of million pounds since June 2019. Having also been handed that same sum in taxpayer's money for free in the last two months, in practical terms that's saying we've been operating at a one million pound loss in a little over 18 months. Unless Hopkin actually had the biggest budget since McInally was in charge or something, how the fuck could that have happened? We've all been over the very few pros and very many cons of Option 1 before. Once the stadium is out of the hands of the club then, unless it was some sort of legally watertight let to buy arrangement where after X number of years and/or Y number of pounds the stadium passes to the club, we're never getting it back. With Option 2, at least the stadium is remaining in the club's hands rather than directly disappearing with the asset strippers. They could dig their heels in and refuse to give the stadium back forever no matter how much money is dangled in front of them, they can’t do that if we ever managed to raise the money to pay off the debt. The problem is that the debt is a realistically unpayable amount and hangs over us anyway just as having no assets would hang over us, while without any expertise I imagine it's a hell of a lot more difficult to get some kind of agreement that binds GC to never fucking GMFC over when it comes to a debt than it is with a lease agreement. You could feasibly lock in 99 years or something of a peppercorn rent, can you do that with no one calling a debt in? With a security over Cappielow guaranteeing that debt, we ultimately find ourselves at risk of the stadium ending up back in their hands anyway. They are effectively valuing the stadium alone at £2 million. We're eating the same shit sandwich of having no real security whatsoever while being at the mercy of people who've never shown any sign of having the club's best interests at heart. They are actively trying to hand the club over in a worse position than it was in on day one of their ownership 20 years ago. Which brings us to the faith Golden Casket are negotiating in here. While it's not ideal and they'd be seriously pushing their luck with it, if it came to it I could just about bring myself to tolerate a deal that sees them take the car park. I want that to stay with the club as well and think they have no right to waltz off with any assets, but if they're determined to play hardball then grudgingly allowing them that one asset is a trade off that could be worth making in return for a debt free club with full ownership of the stadium itself. Their idea of a compromise over Cappielow though? Okay, have the stadium but in return you still owe us the full amount of debt, which is somehow still over £2M despite us having supposedly cancelled £1M. Oh and we're still doing a runner with this other asset as well. That's absolutely outrageous and there's no doubt they know it. They are utterly shameless, you couldn't mark their necks with a blowtorch. They'll be extremely relieved that fans aren't allowed just now, this is well past the point where they'd be met with a smattering of discontented sack the board chants from the Cowshed. Their own reprehensible conduct has taken things well past that point and they know it. They should be hounded out of this club with nothing. Edited February 15, 2021 by dunning1874 12 Brian Wake my Lord, Brian Wake Brian Wake my Lord, Brian Wake Brian Wake my Lord, Brian Wake Oh Lord, Brian Wake Link to comment Share on other sites More sharing options...
TopCat Posted February 14, 2021 Share Posted February 14, 2021 Ive got one main question for Crawford etc.: 'Could the £2m debt (and to a lesser extent the value of the car park land) be reasonably written off in the short to medium term by GC without putting GC at risk?' Gradually writing down the debt in exchange for cash injections was the central idea floated at the formation of MCT. Has this offer to the fans been retracted? The lack of clarity on this aspect (not to mention literally anything else about the club's financial position) still makes taking on a huge liability on trust a wee bit hard to swallow. Motive is key here - is the debt transfer purely to protect the club from insolvency? The club's fate being tied to disinterested family business in perpetuity also isn't an acceptable position if there is no plausible debt exit strategy. Link to comment Share on other sites More sharing options...
hayfever Posted February 14, 2021 Share Posted February 14, 2021 Why are they offering a version that sees the club retain debts that exist as a result of how they managed the club? Dougie ran the club like it was his pet project (including signing players without telling the manager at the time) and now, potentially, the club gets saddled with two million pounds of debt because they don't fancy it anymore? What Carew can do with a ball, I can do with an orange Link to comment Share on other sites More sharing options...
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