Mort told The Journal: "The calibre of player we want to bring in is someone with a lot of Premiership experience or Champions League experience and they are in short supply. We are at a stage where we don't want to just bring players in to add to the squad, we want players who are going to be in the first team. We are not just trying to add numbers, we are trying to add quality.
He continued: "The debt was certainly higher than we thought. The club's finances were not in as strong a position as we first thought when we arrived, but that's something we will work with over a period of time. It obviously wasn't a positive thing to find out that the business isn't in as good a financial health as we believed. It's not a criticism of the previous regime, their heart was in the right place to do what they could to bring success to the club, but we'll look at the debt and get it to a level which is suitable for the size of the club and its revenue.
"It has not been a hindrance to what we are doing in the transfer market and for me the two are separate. We are doing lots of things on the financial side and buying players is just one of those, the debt is another. The debt has not stopped us from trying to buy the players we want to improve the squad."