"Obviously Reading have gone down now for the time being but Wigan are holding their own and you need an ambitious chairman, an ambitious manager and a good set of players.
"They have good backers and we have a similar sort of person behind us.
"Everyone wants to play at the top level and there are players here capable of playing in the Premier League - but I think this club is going to go to the top level.
"We have come to West Brom and proved what a good side we are."
Ferguson, son of Manchester United manager Sir Alex Ferguson, made his mark last term when he led Peterborough to promotion from League Two.
Now Posh are challenging strongly to move up into the Championship at the first attempt.
Morgan, 23, added: "As long as the chairman sticks with it, which I am sure he will, I can't say where this club is going to go.
"He has put a lot of money into this club and all the players and staff are thankful of that.
"It must not be nice seeing a loss every month coming out of your own bank account but he has stuck with it - and we'd like to think we are repaying him for that."
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