The Red Devils boss was speaking in his pre-match press conference ahead of this weekend's Barclays Premier League clash with Bolton Wanderers at Old Trafford.
The 18-year-old winger is widely regarded as one of the best young players to emerge from the club's famed youth academy, and has attracted interest from a host of rival clubs in this country and abroad.
"His [Ravel's] agent has been working hard to get him another club," confirmed Ferguson. "We've offered him terms which he has refused."
Morrison has made three substitute appearances for United this season, including cameos against Aldershot and Crystal Palace in the Carling Cup.
But despite the promise he has shown in his short time at Old Trafford, Ferguson is open to the idea of offloading the talented forward even after turning down an offer from Newcastle.
"His demands are unrealistic as far as we're concerned," he continued. "We've rejected an offer from Newcastle. It's all down to how that progresses."
Even though Morrison could leave on a free transfer in the summer United would be entitled to compensation in the region of £300,000 for development costs as he is aged under 24.