A great example of how to run a football club is Sevilla in La Liga. Albeit on a much larger scale but they were in financial ruins in the late 90’s early 00’s and were in the second tier of Spanish football. What they did was put in a place a solid structure focused on youth and clever scouting/use of the transfer market as well as clever appointments in key roles ie manager and director of football. From there they got promoted, improved year on year, unearthed rough diamonds, produced fantastic youngsters and eventually developed into a top side which went on to win many titles.
Morton need to do something similar. There is no reason why Morton cannot compete for promotion to the top flight if of course they are run correctly.