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There is more than just the options proposed which could be a suitable solution to this issue.  I'm surprised that the legal experts involved with MCT, or even our own legal expert, Professor Dork McChrisendale hasn't pointed to an alternative remedy.

 

We may seem cold, or we may even be
The most depressing people you've ever known.
At heart, what's left, we sadly know
That we are the last truly British people you'll ever know.

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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

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:

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

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28 minutes ago, Ton4life said:

Agree MCT have collected our money and used it to right off debt as agreed with GC.

Now GC have showed their hand and this is their ultimate route to maximum capitalisation.

Dougie's legacy is top business opportunist and triumphing Hugh Scott. In other words he looked like our saviour but turned out to be worse than HS.

We need to play hardball and get the Inverclyde Council fully on board, by blocking any change of use for the land.

Bottom line is this is not going to be cheap and what ever deal we accept the GC group must be fully removed in the deal.

While money is currently at it's best rates for years, if MCT can raise the capital, it will take the a significant part of the MCT funds to buy the stadium which also needs significant investment in the next five years to provide a reasonable fan facility. 

While this is the direction I would like us to take I am also concerned that the playing budget will have to be reduced and could result in us ending up in the seaside leagues for the next 20 years.

Maybe as said above we should go for the nuclear option and start again.

Must mention the Goverment now looks like the £500,000 grant has not help Morton but strengthened GC options.

I really develop hatred for anyone but this family %$£@!!!!

The bit in bold. Nonsense. 

He might've been many things, but worse than HS is not one of them. 

TIME FOR CHANGE!

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48 minutes ago, Ton4life said:

We need to play hardball and get the Inverclyde Council fully on board, by blocking any change of use for the land.

As I mentioned before, the current land designation for recreational use may actually work against us in the long term.

Although the current designation of recreational use substantially deflates the value of the land and will certainly deter the HSs of the world from trying to make a make a quick buck by selling it on for redevelopment, it may actually be attractive for speculative Property Developers to take a longer term punt on it. They buy now cheap, then sit on it for a few years as Cappielow gradually becomes more and more derelict.  By then the original reasons for the recreational use designation will no longer valid as GMFC as tenants would have been been turfed out years earlier, in which case there would be a lot of pressure on IDC to re-designate the use of land for development, especially if a concrete proposal was put in front of them that brought jobs and/or investment to the town.

Granted there are if and buts in the above scenario, and while it may not be a probable outcome, it would I believe be an entirely possible one, and an additional concern in any option where GC retain ownership of Cappielow. Unless of course watertight legal guarantees were made that GC could not sell Cappielow in perpetuity, but I'd be astonished if GC would sign up to such a permanent commitment. They obviously want to hold on to Cappielow for a reason, and as a sleeping asset for capitalisation in the future if needed, is the only plausible explanation I can think of. 

Same goes for the 1 pound per week rent. Unless that's also guaranteed in perpetuity that's also a concern, because if it isn't there's nothing to stop them from charging commercial rent at some point in the future. 

The MCT guys are obviously not daft and I'm sure they also share these concerns and are getting proper expert legal advice, but I just don't have a good feeling about this at all. 

Edited by Cet Homme Charmant
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52 minutes ago, Jamie_M said:

Sick of this. This IS Dougie's legacy.

Oops, should have italicised the word legacy. We’re singing from the same hymn sheet, but those less informed, still view Dougie as being a saviour of the club, with his name printed on the inside of the jersey and displayed on the street signs across the road.

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5 hours ago, Scott said:

Would be interested to see what happened if MCT told Crawford and GC to GTF and just pulled out. 

This is my preference.

"CORNBEEF IS A BELLEND"

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10 minutes ago, LargsTON said:

This is my preference.

Same and I said as much in the survey.

MCT Consultation Survey – Morton Club Together

On the 'pick option 1 or 2' question, I didn't select either and just filled in the comment box.

MCT have been given a choice between having the club's only physical asset - and one of only two valuable assets, along with SPFL membership - taken from it; or not having the debt written off (something that even the Raes' most fervent critics never imagined they'd do prior to yesterday.) Neither of these choices is in any way acceptable in their current form. The first one might have been acceptable if there was a clear path to ownership for significantly less than market value, but as far as I'm concerned, GC are doing two things by introducing this second "option": poisoning the well away from anything in MCT's favor, and showing that they have no regard for the future of Morton. These are not acceptable positions to negotiate with and as such negotiations need to end immediately.q

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The stadium was just resting in my account

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MCT bit Crawford's hand off at the first option last year even though it represented poor value, leaving them no wriggle room when they went back to negotiate to have the stadium remain.

Sticking £2m back on for the stadium but keeping the car park is a stretch I didn't even think they would go to.

Shysters. Chancers. GTF.

And if MCT continue to bend over and be shafted, they are proving to be a not fit for purpose alternative.

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13 minutes ago, Jamie_M said:

MCT bit Crawford's hand off at the first option last year even though it represented poor value, leaving them no wriggle room when they went back to negotiate to have the stadium remain.

Sticking £2m back on for the stadium but keeping the car park is a stretch I didn't even think they would go to.

Shysters. Chancers. GTF.

And if MCT continue to bend over and be shafted, they are proving to be a not fit for purpose alternative.

I never found the Raes to be that personable or enjoyable to spend time with but they seem to enchant anyone they get on the club's board. It's quite impressive, it has to be said. They have MCT eating out of their hand. That takes ability. 

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The stadium was just resting in my account

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3 minutes ago, TRVMP said:

I never found the Raes to be that personable or enjoyable to spend time with but they seem to enchant anyone they get on the club's board. It's quite impressive, it has to be said. They have MCT eating out of their hand. That takes ability. 

As I mentioned earlier, as it seems they're the only show in town at the minute, I'm not sure that MCT fully realise just how strong their negotiating position is. They should be the ones calling the shots, not tugging the forelock. 

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I was always concerned that MCT appeared when GC were looking to plug their losses and seemed to find a willing partner who in turn sold this to the fan base.

Starting to think I have been sending GC £240/year when I thought I was helping to keep Morton going.

Unless MCT step up to the mark soon and demonstrate leadership and an understanding of property ownership and management this is going tits up and GC are taking my cash with them.

I understand MCT are a voluntary group and their chairman has had major health issues but surely their risk management consultants would have identified such weaknesses and had a strategy to deal with concluding this buyout.

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3 hours ago, TRVMP said:

Let's remember that the car park wasn't mentioned in the original July 2020 announcement - only Cappielow was, with the understanding that it was (ha ha ha ha ha!) to prevent the vultures from taking it if Morton fell into bother. Of course they'll now say the car park was implied - was it really? Who knows?

 

The car park is owned by GMFC although Dougie once tried to say differently when it suited him. So it would be implied.

 It didn't cost a great deal when it was bought as, and I think it was some Scottish Gov agency that was selling it, couldn't find a buyer as the land is contaminated having been a coal yard in days gone by. 

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.
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9 minutes ago, 9 Strathblane Crescent said:

The car park is owned by GMFC although Dougie once tried to say differently when it suited him. So it would be implied.

 It didn't cost a great deal when it was bought as, and I think it was some Scottish Gov agency that was selling it, couldn't find a buyer as the land is contaminated having been a coal yard in days gone by. 

Does GMFC Property Ltd actually own *anything?*

The stadium was just resting in my account

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57 minutes ago, Tubes said:

He would be getting an absolute hounding if fans were allowed into games. 
 

 

I miss a lot of things right now, but I really do miss a good toxic atmosphere at Cappielow. He's so fortunate there's no supporters in this season. 

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