MORTON bosses say that they're in urgent need of significant investment to strengthen off-field operations and not the team after running up consecutive six-figure annual losses.

The club responded to fan fears that had grown over the last ten days as a result of back-to-back defeats against Arbroath and Partick Thistle.

The consecutive losses led to manager Dougie Imrie admitting that he thought he'd have to work with a squad of only 17 players.

In a bid to allay fears about the club's financial situation, the board revealed in a statement plans to make Morton a more sustainable business in the wake of financial losses in the region of £200,000 to £300,000.

The statement read: "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.

"In addition, it is no secret that Cappielow is a structure which is going to need investment in the coming years, some of which will be required sooner rather than later.

"We need to start building a fund for these works and ensuring that we have the finances to make improvements where necessary.

"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.

"All that being said, 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 £200-300,000.

"Thanks to Dalrada, MCT, season tickets and cup draws, we will likely post two profits in a row which enables us to start building a rainy-day fund."

The Cappielow top brass admitted that they were left disheartened after the recent defeats, but believe that it's down to key players being unavailable.

The board claims that the number of players that Dougie Imrie desired was a squad of 18, and with Michael Garrity out on loan, they say that there is still room for manoeuvre to add players.

One source told the Tele that Garrity was moved out in order to try and clear room for more funds, even with the draw of the money spinning Rangers tie that was revealed to have made just shy of £250,000.

The statement continued: "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.

"Last season we were fortunate with very few players out injured over the course, whereas this year we have lost several early doors including Jack Baird, Grant Gillespie, Jai Quitongo and George Oakley.

"For any squad in our division, losing multiple key players is extremely challenging.

"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."