Leaderboard

“We need money” “Can I buy the new training gear?” ”no”

FTFY

They’d better not moan about being skint then.

The usage is secondary to the ownership. The ownership of assets with a new capital value attached to them opens up new lines of finance. Unless there's something in the covenant between MCT and GC to prevent this (and I think such a covenant is unenforcable) there's nothing to stop GC securing credit against upgrades paid for by MCT. Hypothetically, if we ripped down the WDE and built a luxury hotel and spa in its place - something the East End of Greenock is surely crying out for - that asset will belong to GC, even if MCT are responsible for the operating expenses and income. And, as you say, if their commercial interest is in the land, they can secure credit against that tomorrow if they want to, and we have no recourse. I mean, the agreement that Morton will play at Cappielow as long as MCT own the club - that's an agreement between MCT and GC, not between MCT and some hazy notion of Cappielow. If GC have Cappielow foreclosed upon, or just opt to sell it one day (bearing in mind that Crawford won't be around forever, and he's not a dictator today anyway - I don't believe that a rental agreement can preclude sale in perpetuity), then the covenenat just disappears into thin air. I have no doubt that people at MCT have thought about this and are acting in what they believe to be Morton's best interests (while also being realistic about how much money they have) but at the end of the day we're a few steps away from a very, very precarious position, and while I don't think Crawford is eager to pull the carpet out from under Morton, others in GC's future may well be, or at least forced into the reluctant position of doing so. What safeguards will there be beyond promises?

Then why the fuck does it even exist?

Good performances from Tiffoney! Didn’t realise how slow Lamie was! Looked as though he had lead in his boots! Reminded me a bit of the defender who limped his way through the Aberdeen semi-final, can’t remember his name.