A consortium of Inverclyde businessmen want a 60 percent stake in Morton and ownership of Cappielow in return for providing the club with a financial lifeline.
Facing a budget short-fall of £335,000 after sponsors Dalrada failed to make promised payments, the cash-strapped Championship outfit could run out of cash by the end of the year.
While a fans’ fighting fund has raised over £70,000, a more permanent solution is needed to secure Morton’s future and avert insolvency.
To that end a consortium, featuring businessmen Raj Samrai, Sandy Easdale, Alex Mcwaters, Puneet Gupta Ian Munro, Gordon McArthur - and four others who wish to remain anonymous - have pledged to inject an immediate lump sum payment of £150,000 followed by £12,500 per month thereafter.
In an offer communicated to the 1150 members of Morton Club Together, the community ownership group, the businessmen promised to make the club stronger, more sustainable and more successful’.
Providing an assurance that that they are not motivated by personal gain, they seek a majority stake in the Greenock side which would effectively bringing fan ownership to an end.
The consortium would also seek ownership of the stadium ‘within four or five years’, but claim they are open to the idea of legal protections which would ‘provide reassurance to supporters and stakeholders that Cappielow will remain a permanent home for Morton and a valuable sporting asset for Inverclyde.”
In return for surrendering majority control Morton Club Together would be granted two seats on the club board, with two consortium directors and three independent directors ensuring that no single stakeholder dominates the governance of the club.
Promising to bring proven business experience and the networks needed to secure new sponsors and commercial partnerships the anonymous members of the consortium include a ‘former Scottish international’, a ‘former Scottish Premier League footballer’ and a ‘lottery winner.'
In the notice sent out to MCT members the group conclude that they “represent a long-term commitment by ten Inverclyde businessmen to support Greenock Morton Football Club through ongoing equity investment, commercial expertise, football knowledge and community engagement.
“Our intention is not to take from the club but to contribute to it. We are committed to working collaboratively with the board, staff and the wider community to help Greenock Morton achieve its full potential both on and off the pitch.”
MCT members have been given a deadline of Friday October 2 to submit any questions, with the group vowing to provide written answers. An MCT EGM will then be held on Monday October 19 to vote on the matter.
