TRVMP Posted May 11, 2021 Share Posted May 11, 2021 Didn't see anyone post on this yet but the club published its most recent set of accounts yesterday. Non-shareholders can view these on Companies House. They're largely moot at this point, given everything that's happened in the last year, but the club's overall debt grew in that time from £2,611,332 to £2,873,032. Of this, the overwhelming majority of the debt was owed to 'group undertakings' (i.e. the gormless Raes still thinking they were getting "their" money back), at £2,703,432. The only thing keeping the club notionally solvent was the valuation of its fixed assets. The freehold property is valued at a shade over £3m, with fixtures and fittings at a further £726,158. It's difficult to overstate just how terribly the club has been run in recent years, and it's sobering to note that this debt continued to balloon in the expectation that the fans were going to one day pay it off. Thank God that got nipped in the bud when it did. Link to comment Share on other sites More sharing options...
Jamie_M Posted May 11, 2021 Share Posted May 11, 2021 32 minutes ago, TRVMP said: Didn't see anyone post on this yet but the club published its most recent set of accounts yesterday. Non-shareholders can view these on Companies House. They're largely moot at this point, given everything that's happened in the last year, but the club's overall debt grew in that time from £2,611,332 to £2,873,032. Of this, the overwhelming majority of the debt was owed to 'group undertakings' (i.e. the gormless Raes still thinking they were getting "their" money back), at £2,703,432. The only thing keeping the club notionally solvent was the valuation of its fixed assets. The freehold property is valued at a shade over £3m, with fixtures and fittings at a further £726,158. It's difficult to overstate just how terribly the club has been run in recent years, and it's sobering to note that this debt continued to balloon in the expectation that the fans were going to one day pay it off. Thank God that got nipped in the bud when it did. Link to comment Share on other sites More sharing options...
vikingTON Posted May 11, 2021 Share Posted May 11, 2021 Morton fans with the club haemorrhaghing £4 million of losses in the all-important second tier. 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...
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