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Unless they announce a deal with added caveats based on relegation, either the deal is significantly improved or declared null and void, then MCT are being taken for mugs. Again.

I'd also like to know how they think they can fund the club in the scenario that we are relegated. There has been a lot of hope pinned on their £100k of cost savings, all of which and then some will be obliterated with the drop in income from relegation.

Edited by Jamie_M
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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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The key points of the new deal are:

  • The full debt currently owed by Greenock Morton to Golden Casket will be written off.
  • A new company will be set up and ownership of Cappielow, as well as Golden Casket’s 75% ownership of Greenock Morton will be transferred to this new company.  The new company will be owned by Morton Club Together, ensuring Cappielow is in the control of the fans.
  • The above will mean that Morton Club Together will own approximately 90% of Greenock Morton – Golden Casket’s 75% and the current 15% held already by Morton Club Together.
  • Ownership of the car park will remain with Golden Casket and the club will be permitted to use the land as a car park when required. This agreement is at the discretion of Golden Casket and can be withdrawn in future.
  • Funds currently held by Greenock Morton will remain with the club for community ownership.  This includes a significant proportion of the government grant which continues to help the club get through the Covid pandemic and providing a strong financial foundation. A portion of this money has been used to date for Covid testing and day to day running of the club through the pandemic.
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My initial impression is this is as good a deal as we're going to get. Golden Casket keep the car park but we get the rest. It is what it is. 

This seemed to be the most obvious solution from the start. 

 

 

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2 minutes ago, SpoonTon said:

My initial impression is this is as good a deal as we're going to get. Golden Casket keep the car park but we get the rest. It is what it is. 

This seemed to be the most obvious solution from the start. 

Agreed, although I'll wait to see if any issues on the legal/ownership side emerge before responding to the survey. It looks to me like the best realistic option available though and a significant climbdown from the previous two 'options'. 

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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Not 100% sure how we’ve gotten to that new deal from where we were, but I’ll take it. Read through the document there too and pleased with a lot of the sounds being made. Have my doubts about us becoming sustainable as quickly whilst balancing it with relative success on the pitch - but it looks to be our best way forward anyway.  

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While GC deserve fuck all and it's them that should be dropping £2m into the account as a goodbye and an apology for their shit show, the compromise of them getting the car park and nothing else seemed like a wishful best case scenario based on the previous two scandalous options.

As long as there are no hidden skeletons in the detail and the Raes are completely gone without exception then it's time.

As the Goon said, surprised to get to this point from the previous offers and still have some concerns over the fact that MCT seemed to be on board with the previous offers but credit where it's due because that is significant movement.

Makes it crystal clear that GC were being absolute chancing cunts. 

 

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Someone's going to need to walk me through why they are getting the car park.

edit: To be clear, I think MCT have done very well to get us where we are today. But I'd like one of the Raes to explain, in detail, why they felt this necessary.

Edited by TRVMP

The car park was just resting in my account

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Yeah happy with that, a lot of detail in the business plan and all sounds pretty positive.

Hopefully we can get a few more signed up and a few increased contributions from existing members. I'll happy increase mine once it goes through.

Find it a tad amusing that we talk about going for a leaner better quality squad as every penny counts in the same month we gave Easdale a new 1 year deal. Really hope his uncles give us at least 3/4 times his salary to make that farce worthwhile.

Regardless of what league we are in, we need to be ruthless in who we retain. If we are talking about better quality, then catch ye later Kalvin, Robbie, Sean, Cameron and co. If we offer new deals to these guys, it will just piss off every member and throws the business plan out the window straight away.

 

All in with a Doyle Brunson
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I don't think we'll ever be able to prise the car park from GC's grubby mitts. They've earmarked it for future development. Let it be known that the Raes were a blight on this once-proud club.

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9 minutes ago, Madton said:

Yeah happy with that, a lot of detail in the business plan and all sounds pretty positive.

Hopefully we can get a few more signed up and a few increased contributions from existing members. I'll happy increase mine once it goes through.

Find it a tad amusing that we talk about going for a leaner better quality squad as every penny counts in the same month we gave Easdale a new 1 year deal. Really hope his uncles give us at least 3/4 times his salary to make that farce worthwhile.

Regardless of what league we are in, we need to be ruthless in who we retain. If we are talking about better quality, then catch ye later Kalvin, Robbie, Sean, Cameron and co. If we offer new deals to these guys, it will just piss off every member and throws the business plan out the window straight away.

 

That would be his dad not his uncle. 

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40 minutes ago, Jamie_M said:

While GC deserve fuck all and it's them that should be dropping £2m into the account as a goodbye and an apology for their shit show, the compromise of them getting the car park and nothing else seemed like a wishful best case scenario based on the previous two scandalous options.

As long as there are no hidden skeletons in the detail and the Raes are completely gone without exception then it's time.

As the Goon said, surprised to get to this point from the previous offers and still have some concerns over the fact that MCT seemed to be on board with the previous offers but credit where it's due because that is significant movement.

Makes it crystal clear that GC were being absolute chancing cunts. 

 

My thoughts exactly. A fucking shameless gang of robbing bastard's.

There's a storm on the horizon

And for that I can't see the sun

For I'll keep a waiting on the pavement

For the ice cream van to come

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44 minutes ago, TRVMP said:

Someone's going to need to walk me through why they are getting the car park.

Ae, absolutely agree, there is no way the deserve it nor should we be surrendering such an asset so freely.

Unfortunately, with how the negotiations have gone, that ship has likely sailed leading to this being seen as a better than expected position.

 

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11 minutes ago, Jamie_M said:

Ae, absolutely agree, there is no way the deserve it nor should we be surrendering such an asset so freely.

Unfortunately, with how the negotiations have gone, that ship has likely sailed leading to this being seen as a better than expected position.

 

Yep. I said it at the time, the Raes have played a blinder on this. Start from a completely unreasonable position of strength and work your way down to something that looks like a concession by comparison. "We're going to have MCT subsidize the running of the club and in exchange for this we'll take the car park in lieu of their paying the debt that we said we were going to wipe off anyway" would have been, as an opening gambit, laughed out of the room. Yet now it looks absolutely amazing in comparison to what we were going to get.

Fair play to them, hopefully whatever they have planned for the car park is worth disgracing DDF's name among the admittedly small percentage of Inverclyde residents who are Morton fans.

The car park was just resting in my account

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Excellent news.

I hope we can all focus on moving forward together. We have just be offered a great opportunity and now is the time to take it. We don't know about the future, but focus on minimizing our risks, work within our limits and we should be fine. As a group we have much to do, lessons to be learned and mistakes to be made. It will take time to get it right, so let's be understanding and conduct ourselves as we would expect others to.  

As for the car park, forgetaboutit...., it's behind and frankly draining to read about it time after time.

In case your wondering, yes I am available to pick the team for Friday...LOL

 

 

 

 

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