Morton Club Together – Moving Morton Forward
Community Investment Proposal
Executive summary: The current challenge and proposed solution
Greenock Morton Football Club – founded in 1874 and one of the oldest professional clubs in the world – faces challenges as it looks to adopt a sustainable business model.
The vision of Morton Club Together is to “Move Morton Forward” by:
o Tackling the current financial challenge by delivering new investment over two years, starting as soon as possible
o Sustaining and positioning Morton to reap the benefits of its recent investment in local community and football projects, and moving Morton towards on-going profitability – a winning, thriving Morton on and off the field
o Enabling new investors in Greenock Morton FC for as little as £10 a month. These new investors will immediately form the second largest shareholding group in Greenock Morton FC and will have a genuine impact and influence, delivered democratically through Morton Club Together
o Uniting, galvanising and channelling the energy and capabilities of lovers of Morton, Inverclyde, community action, the development of young people, and sport as a power for change. Morton Club Together believes that there are hundreds, if not thousands, of people around the world who will want to support this vision
o Working actively and independently, in partnership with the current Morton Board, to drive Morton forward and deliver the Morton Club Together vision
o Having at least one seat on the Morton FC Board to represent the views, wishes and capabilities of all MCT pledgers/investors. Adding value and improving Greenock Morton FC from the inside.
The first step was to deliver a pledging process over an 8 week period, starting on 26 April 2019. This gauged the appetite of potential investors who can securely, safely and anonymously pledge the amount they would like to invest in Greenock Morton FC Ltd. This will quickly demonstrate the chances of achieving the vision of Morton Club Together
While they would, in principle, be welcome by Morton Club Together, we are not aware of any other significant investment propositions currently being developed to address the immediate threat to Morton’s future. If there were any alternative major new investment proposals, MCT believes that an element of community ownership should be retained by Greenock Morton Football Club, to at least the 15% level initially being proposed by Morton Club Together. We see this as a healthy and critical factor in the delivery of the Morton Way and a sustainable and successful Morton
The pledging process was quickly followed by delivering the investment process itself, to starting in August 2019. This will ensure that new monies are immediately available to achieve positive outcomes on and off the field of play, and to ensure that momentum being built is channelled into positive results as soon as possible
MCT FAQ updates at 13/01/2020
Q1. What is MCT
MCT is a small group of volunteers who are committed to helping Greenock Morton achieve success on and off the pitch. There are three directors and also other individuals who help to drive forward the ideas of the company, which are to provide additional resources to supplement the first team playing budget, to assist the club with offers of expertise in our respective fields, and to investigate the possibility of, and move towards, majority community ownership of the club.
Q2. Surely £400,000 of pledges from Morton supporters is too ambitious a target?
A. MCT is ambitious for Morton. For example, we want The Morton Way to deliver at least one major trophy within the next 30 years (2022 would be good, the centenary of Morton’s only other major trophy win – The Scottish Cup!)
We are asking people from the Morton community, not just Morton supporters, to pledge their support, financially and otherwise. Greenock Morton Football Club has a massive impact on the community well beyond Morton supporters, as will The Morton Way. For example, the parents and grandparents of young Inverclyders who engage with the Greenock Morton Community Trust have a vested interest in financially supporting and being an active part owner of Greenock Morton Football Club. Perhaps their grandchild will grow up to score the winning goal for Morton in the cup final? Or maybe they will learn life-skills by volunteering to be one of the many coaches for Morton Community football teams for young boys and girls across Inverclyde? A strong and thriving Greenock Morton FC is a requirement to make these things possible.
What better way to invest in the future of your loved ones than to support MCT as we support and look to take over the club that is central to our community.
We also know that local businesses, sports clubs, community focussed organisations and individuals, who are not necessarily Morton supporters, will see that a strong Morton is good for the community and therefore good for them. This is being reflected in pledges where we know that people and organisations that place a great deal of value in Morton, who are not Morton supporters, have already pledged.
There is also a wider group of pledgers who are not Morton supporters and who do not live in or near Inverclyde. These people want to see MCT succeed because they believe in what we are doing and why we are doing it and, if we prove successful, that the MCT model could be replicated in their community.
Q3: What is the position about the shareholding in Morton
As part of our negotiated agreement with Morton and Golden Casket, we have received a 14.6% shareholding in the club. If we do not achieve a financial contribution of £250,000 over 2 years, a small portion of those shares will have to be returned. We are currently the second largest shareholder in Morton.
Q4 Won’t our investment just be taken out of the club by Golden Casket. What’s the point?
MCT has been gifted the shareholding of GMFC from the current shareholding of Golden Casket Limited, in return for our investment. Therefore Golden Casket will not take any of this money out of GMFC.
All money invested by MCT will remain in the club and be used to meet part of the cost of the GMFC First Team by growing the First Team budget by the equivalent of the MCT investment, which will be paid on a monthly basis. This is a fundamental part of the written agreement that we have with Golden Casket.
Q5 Can MCT prove the agreements with the Morton Board and Golden Casket?
A. Everything relating to the share issue is in writing.
Our approach is honesty, openness and joint working with everyone. If we have misunderstood any of the facts, which we don’t believe we have, then we will hold our hands up, but to date we have seen our position confirmed during ongoing discussions with Golden Casket.
Q6 I’m thinking of pledging and want to find out more. How can I do that?
A. Please contact MCT through our website http://www.mortonclubtogether.com, email us at email@example.com follow us on Twitter @TonClubTogether View some of our vlogs via Youtube Find out more info on our Facebook Page
Q7 Can I volunteer?
A. Yes! Please contact us! We need a wide range of skills on our team to help out.
Q8 What about the club debt?
We have already received confirmation from Golden Casket that they have written off the first £500,000 of the club debt. A further £500,000 will be written off for each £100,000 that MCT contributes to the playing budget. We will soon see the second write-off occur, which will see the debt slashed by 40% due to your contributions.
Q9 Who are the volunteers helping to run Morton Club Together and why are they doing this?
A: Please see details of the MCT Leadership Team
Q10 How is MCT communicating with Greenock Morton Football Club?
A. In addition to our nominee being a board member of GMFC, we are liaising directly with the club with a
series of points that are being raised by our members. Following upon a recent survey carried out of our membership, we have shared the results with the club and many of the concerns are being addressed. You may have noticed a significant improvement in the communication from the club through highlights and interviews after matches. This is one of the matters that we raised on your behalf and have worked with the club to make improvements.
Q11 As a member, what say will I have in the running of the club!
A: Our nominee director will have direct input on your behalf into all the major decisions taken at the club. The board do not decide, for example, which players to sign or what formation we play, as that is entirely down to the manager’s discretion. As a member, you will have the opportunity to vote for new directors of MCT in due course.
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