Morgan made his Wrexham debut as a 16-year-old

The Wales Under-21 defender is out of contract but Wrexham would be entitled to a compensation fee if he moved on.

The Dons have made an offer to the 19-year-old, but Smith said: "If MK Dons have got quite a bit of money to pay then we'll obviously discuss it.

"They either pay us up front or we go to tribunal and I would be quite pleased to go to tribunal with them."

Morgan and all the other out of contract Wrexham players have been offered new deals to stay at the troubled club.

And Smith told BBC Wales Sport: "Generally they all want to stay.

"They've got a month now to reply to me, so it's a month of waiting and seeing who taps into them.

"They will get better offers financially, but as I explained to them, there's a quality of life in Wrexham that they shouldn't give up too easily.

He's had offers from all over the country, but he knows how well he's been treated here Smith on striker Juan Ugarte

"It's lovely place to live; we play football the right way; we've got a nice training ground.

"There's a lot of good things going for this club. So they might get a few extra bob, but is it worthwhile moving your family, putting your children in new schools and everything else that goes with it?

"So I think hopefully I'll have the majority of the squad with me next season."

Juan Ugarte's scoring exploits have brought him to the attention of many rivals.

The Basque striker has said he wants to stay at the club, and Smith believes he owes the debt of gratitude to the club that resurrected his career by signing him from non-league Dorchester last November.

"He's had offers from all over the country, but he knows how well he's been treated here," Smith added.

"Our financial offer is a good one and he's got to decide where he wants to play.

"Is he going to be as happy wherever and are the clubs that are interested going to have financial problems next season?

"Are they going to be solid? Are they going to be a good place to be?