BUSINESS Consortium’s Morton Offer ‘Not Credible’

AN offer by businessmen to upgrade Morton’s stadium in return for ownership of Cappielow and a majority shareholding in the club has been dismissed as a non-starter.

Morton Club Together (MCT), the current majority shareholders, told its members that an email was received before Christmas from an individual representing an unknown consortium of businessmen.

MCT stated: “This email offered to invest money into upgrading Cappielow and its infrastructure, and in return be gifted ownership of the stadium and be given the shares to become majority shareholder in the football club.

“The proposed investment is much lower than the current value of Cappielow.

“Had this offer been a credible one, as the current majority shareholders, MCT would have gone out to its members and sought their views on the matter.

“However, this offer is not deemed to be in the best interests of MCT, our members or the football club.”

The statement continued: “The club would lose ownership of the stadium, the club would no longer be community owned and there would be no working capital invested into the football club.

“As the nominated representatives of the club majority shareholder, the MCT board can confirm it will not be progressing any further with this offer.

“If the club had received a credible offer then it would be put to you, our members, for your consideration.”