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Greenock Morton Football Club


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  • 2 years later...

  • 1 month later...
5 minutes ago, munoz said:

Totally skint according to a Soapdodger in my work. He reckons they're in trouble. 

They could always sell some scrap metal. They have our old Love St stand after all.

I would hate to see them fold. 

I wonder what happened with the fan buy out.

https://www.dailyrecord.co.uk/sport/football/football-news/greenock-morton-set-community-ownership-22324991

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Troubled times indeed for Morton, after the death of their longtime benefactor Douglas Rae (owner of sweetie company Golden Casket) his son & successor Crawford does not have the same level of interest in subsidizing the club hence Hopkins departure, Crawford Rae also has less control of the parent company and is looking to bail out of the Morton and get some return on the £2.6M the parent company GC is owed by by the club.

The Morton Community Trust (their SMiSA) are trying to take over thee club - GC has agreed to write off the debt if they are handed the club's assets (the stadium & car park) and have agreed to allow the team to play there for a peppercorn rent and first option to buyback said stadium etc, however Morton would also have to pay for the stadium's maintenance in the meantime which could be significant with such an old stadium and who knows what would happen if they were to default - as ever the devil is in the detail.

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52 minutes ago, Bud the Baker said:

Troubled times indeed for Morton, after the death of their longtime benefactor Douglas Rae (owner of sweetie company Golden Casket) his son & successor Crawford does not have the same level of interest in subsidizing the club hence Hopkins departure, Crawford Rae also has less control of the parent company and is looking to bail out of the Morton and get some return on the £2.6M the parent company GC is owed by by the club.

The Morton Community Trust (their SMiSA) are trying to take over thee club - GC has agreed to write off the debt if they are handed the club's assets (the stadium & car park) and have agreed to allow the team to play there for a peppercorn rent and first option to buyback said stadium etc, however Morton would also have to pay for the stadium's maintenance in the meantime which could be significant with such an old stadium and who knows what would happen if they were to default - as ever the devil is in the detail.

There are quite a lot if similarities between Morton and Carlisle utd down here being they have been bankrolled for years by another company owned by chairman/owner and having an old stadium. I think the break even figure will be achievable for Morton and they can sort themselves out, even if it is them haha 

 

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  • 4 months later...

It'll be an interesting next coupla seasons for them as supporters group MCT are poised to take over this summer. It could go either way for them as they will have to live within budget upon completion of the deal - if they don't make a recovery in the play-offs or bounce back from Div 1 quickly they could turn into one of those famous old clubs (Airdrie, Clyde, QotS) who no longer trouble the top flight - that's if they're not there already (sic). 

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