MYSTERY investors are looking to pump cash into Morton with MCT chiefs aiming to bolster funds by selling stakes in the club.

Morton Club Together board member Gordon Ritchie has revealed there have been a number of people and groups interested in investing in the Cappielow club - but he says the potential investors must remain anonymous at the moment for commercial confidentiality.

Fans' investment group have called an extraordinary meeting to be held at Cappielow on Tuesday June 7 to seek permission to sell groups of shares to individuals and companies.

Mr Ritchie says they are looking to get the green light from members to pave the way for the fans' group to reduce its shareholding to a level below 75 per cent.

Trust bosses say they will maintain majority ownership, which will not drop below 50.1 per cent, and the move will help generate extra investment to bolster the first-team budget.

He told the Tele: "There's interest from one company which wants to actually purchase a large block of shares, roughly 14 per cent.

"Although the board can legally sell that block of shares without the members' approval, we don’t think it is appropriate to do that because we asked for permission to sell 14.8 per cent on the basis it would be individual small investors of a couple hundred each, so we want to take it back to membership to see if a deal is done.

"We are still a long way from having a deal done.

"If the deal is done, could the membership approve that, so that is what we are asking them to do in the first instance.

"On the back of that there have been a couple of other people who have shown an interest in buying smaller blocks of shares, maybe five per cent of the shareholding, which then if all of those deals came together would reduce our shareholding below 75 per cent, so on that basis we legally have to get the members permission to do that.

"There has been interest, but I am not prepared to name the people involved, for reasons of commercial confidentiality, but there has been a reasonable amount of interest."

MCT was set up in 2019 and took over the Ton last September.

With the club now debt-free, Mr Ritchie believes the fan ownership has worked well in a short space of time to make improvements to Cappielow and help back manager Dougie Imrie in the transfer window.

He said: "Any club in Scotland faces budgetary constraints, Morton is no different to that.

"If we can significantly increase the revenue that comes into this football club every year, that has to be exciting both on and off the pitch, because it allows us to some of the work that we want to do to the stadium, and it allows us to continue to support Dougie as first team manager with a larger playing budget for next season and beyond."

MCT said all pledges from members contribute to the club’s budget and will continue to do so, and any potential buyer would be required to match those of the current members.

The statement confirmed that the club will continue to maintain majority ownership and will still be a community-owned club of the MCT members.

Morton Club Together said: "The MCT board seeks permission under Article 4.4 to reduce its shareholding to a level below 75 per cent of the total shares in Greenock Morton FC Ltd.

"We are seeking permission to sell groups of shares in the club to individuals and companies who have expressed an interest in investing in the club.

"In doing so, we will maintain majority ownership (our ownership will not drop below 50.1 per cent).

"In this way, we can secure additional and ongoing funding for the club and for the first team budget.

"In an example of this proposal, if an individual or company purchased five per cent of the available shares, we would require them to match your MCT contributions.

"So if MCT continues to contribute around £180,000 per year, the individual or company purchasing that five per cent share would be required to contribute £18,000 each year. In the ideal scenario, every £1 each MCT member contributes becomes a £1.80 contribution to the club budget.

"To confirm, we will continue to maintain majority ownership and continue to be a community owned club, owned by you, our MCT members.

"We are recommending to the membership that you approve this motion."