McCarthy has only been at Wolves for 18 months (Getty Images)

Wolves' promotion push has faded in recent months and they now sit seven points adrift of the play-off places.

Morgan told BBC WM: "I'm not going to answer the question because it's an irrelevant one. We're here as a team and Mick's part of that.

"We're all in it together and we're not that far off the play-offs."

Morgan added that he shares the supporters' disappointment at the current situation.

"It's just as frustrating for the club, the players, the manager and myself but nobody goes out to deliberately not win a game.

I urge the supporters to get behind us. Give us a real shout because we can still do it Wolves chairman Steve Morgan

Wolves' new owner added that he feels, with a bit more luck, the club's fortunes can still turn around because of the strength of the nucleus of the side at Molineux.

"We've had an appalling run of injuries but we have a great young team and they respond much better to fans getting behind them.

"So I urge the supporters to do so. Give us a real shout because we can still do it.

"Wolves is a big club and we should be in the Premier League."