The Third Division side's board explained that results had not been good enough for the investment they had made.

The Greenock club are currently fourth in Division Three, three points behind leaders East Fife.

The board are now on the look-out for a more experienced manager.

McPherson was appointed Morton manager in March 2002 but could not prevent them from being relegated from the Second Division.

He enjoyed success as a player with Rangers, Hearts and Scotland before moving to play in Australia.

The news of his sacking came on the same day that Morton midfielder David Hopkin announced his retirement after a number of serious injuries.