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Morton Club Together Updates


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For a business to create a separate property holding company is not unusual.  I just assumed that when the Raes bought the club this included the property assets. In the accounts for GMFC Ltd, I am sure the stadium is the single largest fixed asset. In such circumstances, the Raes as the acquiring party would under due diligence have reviewed all aspects of the title and must have known of the gap in ownership hence a bit 'strange' it was not previously resolved. That said at least it is being addressed by MCT now.

Disappointing the update does not address the issue of squad recruitment. I do not expect chapter and verse on who we are after but I would have thought there was scope for some comment on why we appear to have missed out on targets to date. Are we really the bottom-feeders in the Championship in terms of contracts and money or is it linked to the delay in the takeover and no-one being willing to commit? 

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3 hours ago, HamCam said:

is it linked to the delay in the takeover and no-one being willing to commit? 

The only person who thinks that is the case is you so I'm not sure why MCT would address your nonsense tbh. 

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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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22 hours ago, TONofmemories said:

Dear members,

We've got some more information on the progress of the takeover for you in this week's update.

Firstly, the terms of agreement for the use of the car park have been finalised and are ready for signature. They will not, however, be signed until all the other documents are ready.

The title issue is near completion. As we indicated, there is one small area of land that has been occupied by the club for many years, but which it does not own. The club has been in negotiation with the legal owner of that land, and it looks likely that we will purchase that land for a nominal sum. This is unlikely to delay the takeover, as it is a separate land transaction.

We have been asked questions about why these issues were not resolved when the Rae family purchased the club 20 years ago. At that time, the club was purchased, but not the land. The land has always been owned by Morton. Had MCT purchased the club alone, these issues would not have arisen. This is why we believed that we could complete the transfer by 1st June. The change to the plan, to keep the stadium within the club’s ownership with no standard security over it, has necessitated a change in the timetable. 

In order to protect the stadium from any future predators or creditors, the stadium will be owned by a separate property company (owned and controlled by MCT). That triggers the “first registration” to transfer the old Sasines titles into a new and neater Land Register title. This has significantly increased the legal work required to complete the deal, which has led to the delay. Be assured that these additional steps are being taken only to protect the stadium and the club in the long term.

The next few days will see much activity on the ground. The car park and stadium will have to be photographed to show their condition at the date of transfer. This small step alone will take a full day to complete. Once the photos are agreed between parties, the last stages of fine tuning can be completed.

We cannot put a timescale on this, but we can confirm that these issues are not preventing the preparation for the season. 

We will issue another update when there is some further movement.

Club News

We hope you enjoyed our first three points of the league season if you were at New Douglas Park last Saturday or watching at home. The roar from the away section when Gozie Ugwu's goal went in was a sound that's been sorely missed.

You'll have seen the club update this week regarding the changes in the protocols when attending Cappielow going forward. If you missed that you can read it here, but it's a hugely welcome step to getting your match routine back to a level of normality. An attendance of up to 5,000 is now allowed for our matches going forward and should we require an increase on that we can liaise with Inverclyde Council to request it. They'll also be a further update in due course on the return of the hospitality offering.

Chris Ross, the new General Manager, started this week and you can find an interview with him here about his initial thoughts and why he wanted to join the club.

No match action for our men's team this weekend but our women's team will be looking to bounce back from that disappointing derby defeat at Cappielow last weekend. Spectators are allowed in their away match against Renfrew if you can make it along to New Western Park.

Thanks,

MCT Comms Team

Are you the MCT Comms Team?

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HAVE A NICE DAY Y'ALL

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9 hours ago, RealTonKid said:

Have we binned Interstadia? I was looking to see if I could purchase my ticket in advance for Saturday using the website, but there’s no option to do so.

I think interstadia have binned themselves, but we're still stuck using their system anyway. Hopefully a solution can be found soon, because it seems like the lights are out at interstadia (and they were very dim to begin with).

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13 minutes ago, HamCam said:

What happened to the weekly update?  Surely not another example of promises being undelivered?

Dear Members,

We hope that those of you at yesterday’s game enjoyed being back with less restrictions, despite the extremely disappointing result.

It was great to see 1429 people back in Cappielow along with 291 tuning in to the TonTV stream.

We are also aware that the current ticketing situation is not good enough for a football club in 2021, and will be working on longer term solutions to improve this significantly.

Attention now switches to our next match next Saturday at Firhill to face Partick Thistle in the cinch Championship.

For the women's team, it was a much more positive weekend and it was great to see them kick start their season with a 6-1 win over Aidrie today.

On off-field matters, we thank everyone for your ongoing patience as we work to get the deal finalised.

There is not a huge amount to update on in terms of significant changes in the situation, but work continues to be carried out by our lawyers to push us closer to completion.

We will continue to provide these weekly updates to members and provide you with information around ongoing progress.

AGM

A reminder that the MCT AGM will take place at 7pm on Monday 13th September.

For those of you wishing to attend in person or online please register by clicking here and following the instructions.

Please ensure you select the correct ticket when registering.

Thanks,
MCT Comms Team

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