The Bewilderedbeast Posted December 14, 2020 Share Posted December 14, 2020 Don't know if this has been posted elsewhere, can't see anything obvious. So here it is. KEEP CAPPIELOW PARK IN THE HANDS OF GREENOCK MORTON. Do you agree? http://chng.it/59hHvgfS Link to comment Share on other sites More sharing options...
capitanus Posted December 14, 2020 Share Posted December 14, 2020 Signed. *insert signature here* Link to comment Share on other sites More sharing options...
Alibi Posted December 14, 2020 Share Posted December 14, 2020 If we want to own Cappielow, the first step would be to find out what it is actually worth. I know GC have a value of £3 million in their books (is that Cappielow or does it include the car park site?) but as is often said, anything is only worth what someone is prepared to pay for it. GC presumably would like to monetise their assets but they must know that nobody is going to hand them £3 million (unless I win the lottery on a rollover). Is anyone able to tell me what Cappielow Park is worth - not as a football ground but as a development site, because nobody else other than a supporter or group of supporters is going to buy it as a football ground. As a development site, I doubt it is worth a lot - given that there would be extensive site clearance costs just to make it developable. In essence, the stands, terraces, pitch etc. probably have a negative value to ot potential purchasers. Without Morton, it is probably pretty much unsaleable. "Any nation given the opportunity to regain its national sovereignty and which then rejects it is so far beneath contempt that it is hard to put words to it." Link to comment Share on other sites More sharing options...
bigB Posted December 14, 2020 Share Posted December 14, 2020 Question for MCT (a) Find out what the ground is worth. And (b) And do a feasible study to see if we could afford to buy from GC. And then ask GC if they would sell it over a set period of time. Link to comment Share on other sites More sharing options...
piehutt Posted December 14, 2020 Share Posted December 14, 2020 1 hour ago, Alibi said: If we want to own Cappielow, the first step would be to find out what it is actually worth. I know GC have a value of £3 million in their books (is that Cappielow or does it include the car park site?) but as is often said, anything is only worth what someone is prepared to pay for it. GC presumably would like to monetise their assets but they must know that nobody is going to hand them £3 million (unless I win the lottery on a rollover). Is anyone able to tell me what Cappielow Park is worth - not as a football ground but as a development site, because nobody else other than a supporter or group of supporters is going to buy it as a football ground. As a development site, I doubt it is worth a lot - given that there would be extensive site clearance costs just to make it developable. In essence, the stands, terraces, pitch etc. probably have a negative value to ot potential purchasers. Without Morton, it is probably pretty much unsaleable. It would be very difficult to put a price on this without testing the market. Obviously the £3 million is in a set of audited accounts so it would have originated from a valuation at some point. If it's the ground and car park, that is a fairly big site and would have good development potential given the redevelopment of that side of Inverclyde over the past few decades. But if GC are looking to exit and recoup a chunk of the hole in their balance sheet, there is surely a negotiation to have at some point with the logical conclusion being that they will want to sell the asset back to the club. It will be interesting to see the terms of the lease and if there is meaningful rent (i.e. possible that peppercorn means the minimum to avoid paying tax on a benefit in kind, rather than just a nominal £1). If it is just £1, then that is surely a huge benefit to Morton and MCT. Also if the lease has a future sale price worked out and MCT having 1st refusal on that at a pre-determined date. Let's say there's a 10 year lease and MCT get the option to purchase at £xxxx. If MCT can't purchase at that point, they will have to renegotiate the lease, perhaps at more commercial rates - especially if Crawford has since retired and GC has others in charge. It can't be Crawford's plan to keep the stadium under his control and not try and recoup some value in the future, hence I'd be hopeful the lease may provide detail on that. No doubt if MCT had a LOT more money or support he'd have been pushing for a clean break and some of the debt to GC being paid down now, with the stadium transfer not necessary. Twitter... tweet tweet Link to comment Share on other sites More sharing options...
HamCam Posted December 14, 2020 Share Posted December 14, 2020 1 hour ago, Alibi said: If we want to own Cappielow, the first step would be to find out what it is actually worth. I know GC have a value of £3 million in their books (is that Cappielow or does it include the car park site?) but as is often said, anything is only worth what someone is prepared to pay for it. GC presumably would like to monetise their assets but they must know that nobody is going to hand them £3 million (unless I win the lottery on a rollover). Is anyone able to tell me what Cappielow Park is worth - not as a football ground but as a development site, because nobody else other than a supporter or group of supporters is going to buy it as a football ground. As a development site, I doubt it is worth a lot - given that there would be extensive site clearance costs just to make it developable. In essence, the stands, terraces, pitch etc. probably have a negative value to ot potential purchasers. Without Morton, it is probably pretty much unsaleable. Worth is a personal concept and therefore the more appropriate question is what would it be valued at. Nobody knows with certainty what the figure would be as a development site for alternative use but that is a question that, I have no doubt, the Rae family have at the back of their minds. Link to comment Share on other sites More sharing options...
hayfever Posted December 14, 2020 Share Posted December 14, 2020 What happened to the stadium move/redevelopment feasibility study that was being carried out a couple of years ago? I'm not imagining that am I? Or was it something the Trust did which is why we never heard of it again? Edit: Answered my own question Morton's plans for new stadium | Greenock Telegraph In 2015 Greenock Morton Community Trust won a grant of 25k to conduct a feasibility study which might take six to nine months. Can't wait to see the results when it's finished... What Carew can do with a ball, I can do with an orange Link to comment Share on other sites More sharing options...
piehutt Posted December 15, 2020 Share Posted December 15, 2020 12 hours ago, hayfever said: What happened to the stadium move/redevelopment feasibility study that was being carried out a couple of years ago? I'm not imagining that am I? Or was it something the Trust did which is why we never heard of it again? Edit: Answered my own question Morton's plans for new stadium | Greenock Telegraph In 2015 Greenock Morton Community Trust won a grant of 25k to conduct a feasibility study which might take six to nine months. Can't wait to see the results when it's finished... It's tough to see the club ever raising the funds for this, no matter how well run. If / when the club have the land or have control of the land, it would be worth developing the car park with 5G pitches to rent / train / generate some cash flow. But a new stand with the bells and whistles to make it worthwhile would be millions. Twitter... tweet tweet Link to comment Share on other sites More sharing options...
hayfever Posted December 15, 2020 Share Posted December 15, 2020 10 hours ago, piehutt said: It's tough to see the club ever raising the funds for this, no matter how well run. If / when the club have the land or have control of the land, it would be worth developing the car park with 5G pitches to rent / train / generate some cash flow. But a new stand with the bells and whistles to make it worthwhile would be millions. Is there any concern here about the announcement of funds given for a feasibility study, and then no study ever appears to have materialised? Or at least the results don't appear to have been published anywhere? What happened to the 25k? What Carew can do with a ball, I can do with an orange Link to comment Share on other sites More sharing options...
cmdc Posted December 15, 2020 Share Posted December 15, 2020 36 minutes ago, hayfever said: Is there any concern here about the announcement of funds given for a feasibility study, and then no study ever appears to have materialised? Or at least the results don't appear to have been published anywhere? What happened to the 25k? The £25k was all spent on the feasibility study (and that kind of money doesn’t take you all that far down the road into these things). But the study wasn’t into redevelopment per se. It was about the feasibility of various options for Community Trust’s growth - whether it should continue to work as is, grow steadily with eg new Trust specific facilities, undertake more rapid growth eg with a major capital project at Cappielow. There was an interim and final report put to the GMCT trustees. The report, if I remember correctly, recommended the least ambitious of the various options - in effect, continue as is. Our view was that we had outgrown that position and would continue to explore something more ambitious, be that bespoke GMCT facilities or a larger project with GMFC. Link to comment Share on other sites More sharing options...
capitanus Posted December 16, 2020 Share Posted December 16, 2020 23 hours ago, cmdc said: The £25k was all spent on the feasibility study (and that kind of money doesn’t take you all that far down the road into these things). But the study wasn’t into redevelopment per se. It was about the feasibility of various options for Community Trust’s growth - whether it should continue to work as is, grow steadily with eg new Trust specific facilities, undertake more rapid growth eg with a major capital project at Cappielow. There was an interim and final report put to the GMCT trustees. The report, if I remember correctly, recommended the least ambitious of the various options - in effect, continue as is. Our view was that we had outgrown that position and would continue to explore something more ambitious, be that bespoke GMCT facilities or a larger project with GMFC. Worz me drone? Thorz me drone. ^^^^^^ *insert signature here* Link to comment Share on other sites More sharing options...
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