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Morton Club Together Updates


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Kafka's head would be spinning at this. You're arguing that these proposals are designed to 'shield the stadium from creditors' when they consist of either the stadium being used as security for

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

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:

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Exciting times. But what is a 'nominal fee' for rent? How long is it binding for - by what mechanism can the rental arrangements be changed?

Not trying to shoot this down by any means, and I'm sure that MCT (of which I am not a member) have given this all consideration, but I am curious.

The stadium was just resting in my account

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2 minutes ago, TRVMP said:

Exciting times. But what is a 'nominal fee' for rent? How long is it binding for - by what mechanism can the rental arrangements be changed?

Not trying to shoot this down by any means, and I'm sure that MCT (of which I am not a member) have given this all consideration, but I am curious.

They’ve said they can’t disclose exactly what the amount is, but it’s very small.

Its really time protect Cappielow should MCT fall into hardship then it’s protected from any creditors. Was described as “future proofing” to protect Cappielow.

 

it will be written into the lease that Morton will continue to play at Cappielow for as long as MCT own the club.

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Just now, StuartTon said:

They’ve said they can’t disclose exactly what the amount is, but it’s very small.

Its really time protect Cappielow should MCT fall into hardship then it’s protected from any creditors. Was described as “future proofing” to protect Cappielow.

 

it will be written into the lease that Morton will continue to play at Cappielow for as long as MCT own the club.

That's fair enough and it makes sense when phrased that way. As long as it's a watertight agreement then the ground ownership issue doesn't strike me as hugely dangerous.

The only danger would be that if MCT ever had to sell, for whatever reason, the tie between Greenock Morton Football Club Ltd and Cappielow is thus totally severed.

The stadium was just resting in my account

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1 minute ago, StuartTon said:

Also worth saying they clarified that the club will still be responsible for the upkeep costs of Cappielow and the car park, but that all income from both go to the club.

Maybe this still has to be figured out but what happens in the case of capital improvements? Like, purely hypothetically, how would a full rebuild of the WDE be handled, as opposed to just maintaining the relevant safety standards?

Edited by TRVMP

The stadium was just resting in my account

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Lots of unanswered questions in the call and a lot that were answered went off on a tangent without really answering what was asked. 

They've said they'll put more detail on the website within a week so it will be interesting to see what that is. 

The biggest concern to me was that they said any debt this season would be the responsibility of the current owners so I wouldn't expect us to have much of a budget at all. They also said if they aren't in a position to take over in March they'll look to defer it for a year so potentially two seasons on a shoestring with little effort to change things as the current owners won't have to worry too much about the future....

Edited by irnbru
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Hope it works but members contribute around 80k a year and that can drop at any time if people cancel their memberships. Surely it needs a lot more than that to be successful??

We need more fans through the gates and more members for MCT for this to work well. 

Not expecting much this coming season then, Crawford won't want to create any more debt 

Interesting times ahead. 

All in with a Doyle Brunson
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2 minutes ago, TheGoon said:

I am, sceptical, to put it lightly but I’m 100% willing to get behind it. Interesting times. Wonder who the 3rd party was?

Pretty much my thoughts. Just off the call and while I'm excited at the news and lots of talk about how the club can be more efficient, and identifying income generation, it's still of course with sole doubts.

Stadium development for me is the big issue. Stadium improvements need to be high on the list for me. How does community ownership even think about funding something like that?

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Just now, GMFC_Matt said:

If you're sceptical then why not write down your concerns and ask MCT to address them?

Its in none of our interests to sit back and watch this fail

They've said they'll have faqs and answer anything from members on that. I asked 5 or 6 questions on the webinar that they didn't get to so hopefully a lot more detail comes out. 

Initial impressions were some of the board were clued up on what's needed for their part and others liked using buzzwords but didn't really have an answer so just talked for a while instead. 

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5 minutes ago, TRVMP said:

Maybe this still has to be figured out but what happens in the case of capital improvements? Like, purely hypothetically, how would a full rebuild of the WDE be handled, as opposed to just maintaining the relevant safety standards?

That was one of my first thoughts too. From the meeting it is clear to me that capital investment will be required for ground improvements rather than routine maintenance. Separating the club and ground has always concerned me but if what I heard tonight is right then there is some pretty good mitigation. 

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3 minutes ago, GMFC_Matt said:

If you're sceptical then why not write down your concerns and ask MCT to address them?

Its in none of our interests to sit back and watch this fail

I am sceptical at the idea of fan ownership at a club of our size in general, not MCT themselves.

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2 minutes ago, Madton said:

Hope it works but members contribute around 80k a year and that can drop at any time if people cancel their memberships. Surely it needs a lot more than that to be successful??

We need more fans through the gates and more members for MCT for this to work well. 

Not expecting much this coming season then, Crawford won't want to create any more debt 

Interesting times ahead. 

They expect 3 or 4 "patron members" to contribute up to 25k a year so they can be sustainable but that didn't really fill me with confidence either. 

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2 minutes ago, GiGi said:

Sustainability under community ownership might mean we end up at the same level as Airdrie, Clyde or Falkirk.

However other clubs around us are going to need to wake up to the same reality. Inverness, Dundee, QoS etc will fare no better.

MCT are going to have to find significant income sources for this to work in the long term. But since we know who will own the club from here I will be happy to increase my contributions to give it the best shot. Hopefully other people who are able will do so as well, and others who were skeptical of joining will now see a better reason to get involved.

If and when they start supporting non-UK bank accounts, I'll be joining. I'm not opening a UK bank account for this.

The stadium was just resting in my account

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