I'm not sure what you mean by circular argument... the covenant is a safeguard, as is Council 50% ownership. Having one safeguard is good, two even better.
My understanding is the descendants can buy it back for the 1905 price which was probably 3 shillings and a blackbirds egg.
I have this thought and imagine the last board meeting went like this 80%’ers. - “we need the ground and unless you sort it out we wont put another penny into the running of the club’ 20%’ers - Silence, as they slowly look around the room for comments tea lady “but you havent put a penny in so far” 80%’ers - “errr well, we wont think about ever putting a penny in then, does that work” 20%’ers “deal”