"George [Rolls] and Phil [Law] - I've got to give them credit - said it was a massive opportunity and I couldn't really shy away from it."
The Cambridge board have pledged to make the money from the transfer available to manager Gary Brabin to spend on new players.
Morrison becomes the 10th player to leave the Abbey over the summer, but believes his old club still have a chance of making the Blue Square Premier play-offs again this season.
"I think it will be a difficult season because of all the changes and the new manager coming in, but I can't see why they can't keep in the play-offs," he said.
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