MORTON legends Allan McGraw and Andy Ritchie have thrown their weight behind an ambitious fan ownership bid.

The duo have both endorsed the Morton Club Together (MCT) initiative, which aims to raise £400,000 to deliver fresh investment in the playing squad.

In return, the supporters' group will receive a 15 per cent stake in the side.

Chairman Crawford Rae has pledged to reduce his family's 90 per cent shareholding if the funding target is met.

McGraw, affectionately known as 'Mr Morton' in recognition of his service to the club as a player and manager, says he is right behind the fan ownership idea, which is being led by Ton supporter Graham McLennan.

Allan said: "It seems to be the way to go nowadays. "We don't have the crowds we used to - I don't know if it's TV killing it or not.

"We certainly don't have the people going to games and that's unfortunate. "There's more money going out than there is coming in. "I spoke to Graham about what he's proposed and what they're aiming to do is very good. "The club hasn't got the money now and it's a good way of getting money in - the money's not for him, it's for the club.

"This seems to be happening all over Scotland now.

"I hope they make it."

Fellow Morton icon Ritchie, known as the 'King of Cappielow' in honour of his goalscoring exploits in the 1970s and '80s, is also fully behind the scheme.

Ritchie, who this month celebrates the 40th anniversary of his Scottish Football Writers' player of the year award, said: "It's a great idea if it can be done.

"I don't think the sugar daddies are out there much longer for football up here.

"The last one they seen down at Gourock was Roman Abramovich when he brought his big yacht in there a couple of years ago and the last time I was down there I don't remember seeing many sheikhs wandering around the town centre.

"If it can be done and looked upon in the proper matter and people are keen to support it - and that's the 64,000 dollar question, whether the punters are really keen to support something like that - and it can sustain itself I'm all in agreement with it.

"Good luck to the boys that are doing it."