MORTON’S board have revealed how much the club earned from playing Rangers, as it updates fans on squad numbers and spending needed off the park.
The statement comes amid concern among fans following two home defeats.
The board state: “Everyone at the club has been disappointed with the last couple of results, and it has been frustrating how injuries have hampered us so far.
“We are currently operating with a squad of 18 players, with Michael Garrity out on loan. This squad number has always been the manager’s target, however, there is still some budget available to add to the squad.
“The manager is keen that this money is spent well and not used to panic sign because of a couple of bad results. A good example of this last season was the signing of Liam Grimshaw in September which would not have been possible had the manager not been patient with his budget.
Last month’s cup match against Rangers generated around £235,000 in gate receipts.
The statement continued: “Since the draw for that game was made, we were able to increase the manager’s budget which helped add Alan Power, Jamie McDonald and Iain Wilson to the squad.
“However, as a community-owned club, we also have to be very aware of our spending. Right now, significant investment is required off the park.
“We are in the process of recruiting a general manager, a post which had previously been occupied on essentially a volunteer basis, and once that person is in post, we will be carrying out further recruitment to strengthen our off-field operations.
“This is key to helping the club to grow off the pitch and become a more sustainable business, less reliant on prize money and gate receipts.”
The club, which currently has around 1,200 season ticket holders, also need to start a building fund for investment required at Cappielow in coming years.
The board add: “The context for the business is that, for 20 years, it largely ran at a six-figure loss. In recent years, this loss has been £200,ooo to 300,000.
“Thanks to [sponsors] Dalrada, Morton Club Together, season tickets and cup draws, we will likely post two profits in a row which enables us to start building a rainy-day fund.
“Everyone at the club is working extremely hard to make a success of community ownership to give supporters a club that they can be proud of both on and off the pitch.”